IRD and Housing
Recent reports in the media and on the radio indicate that IRD is targeting the small tradesman to curb him from going scott free without paying a tax on his profit from cash (invoice less) jobs. While the move is very much appreciated, I think the the IRD should concentrate more on the bigger fish than try and net the small fry.
We have here a situation where, while the Government will support IRD initiatives to collect small tax amounts (the work involved and expenses for the same would probably not justify the effort) they are doing nothing and want to do nothing about the larger earners / speculators.
Why doesn’t the so called people’s government concentrate on tackling the larger issue of housing prices with the help of new IRD initiatives to tackle the housing speculators? Why are we trying to sidestep the issue and why are we favouring tax avoidance by bigger players and diverting attention to the small earners?
Every small earner, specially the ones whose incomes get deducted by way of withholding taxes at source are duly paying their dues, while those making almost 100% gains in short periods of time are just not taxed.