Taxation Insights Quiz
Taxation Insights Quiz
Discover your stance on important taxation issues with our engaging quiz! Test your knowledge and opinions on how dividends, capital gains, company tax rates, and more should be handled in today's economy.
- Evaluate various tax strategies
- Understand the implications of different taxation methods
- Enhance your knowledge on economic policies
Q1. How should we tax dividends in hands of individuals?
Taxed at progressive rates, Refundable franking credits
Taxed at progressive rates, Non-refundable franking credits
Taxed at progressive rates, No franking credits, A deduction for dividends
Taxed at flat rate No franking credits, Only tax gains above the risk-free rate of return,
Q2. How should we tax capital gains (shares, invest. property)?
Capital gains not taxed*
Taxed at single flat rate
Taxed at one of a few flat rates, Flat rate depends on asset type and income level, Deduction for capital gains
Taxed at progressive marginal rate (with other income), Discount applies to income
Q3. What should company tax rate be?
Low compared to other countries (19%), Most individuals (~80%) have a higher rate
Low compared to other countries (22%), Same as individuals (flat rate on ordinary income)
High compared to other countries (28%), Some individuals (~33%) have a higher rate
High compared to other countries (30%), Concessional rate for small businesses (27.5%) Most individuals (~60%) have a higher rate
Q4. How progressive should personal income tax be?
No tax-free threshold and flat (with surtaxes on labour income)
No tax-free threshold and slightly progressive
Tax free threshold and moderately progressive
Tax free threshold and highly progressive
Q5. How should we treat investment losses?
Rental losses can only be used against other rent, Trading (self-employment) losses can offset any income, Carried forward indefinitely
Rental losses can only be used against other rent, All other losses can offset any income
Losses can be used to offset any other income, Carried forward indefinitely
Losses can be used to offset any other income, Carried forward indefinitely
Q6. How should we tax super?
State and private pensions. Private pension contributions are tax-free up to certain limits. Tax if savings in pension levels go above a certain threshold
Three types of pension funds The employer contribution tax rate depends on the region
No compulsory retirement savings. Optional KiwiSaver. Employee contribution taxed at employee’s MTR
Concessional - 15 per cent in, 15 per cent during and 0 per cent out Individuals>$250k – 30 per cent in, 15 per cent during 0 per cent out Non concessional – 0 per cent in, 15 per cent during 0 per cent out
Q7. How should we tax consumption?
High rate, lower rates for certain goods
High rate, few carve outs
Average rate, few carve outs
Low rate, many carve outs
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