qube 3568 Report post Posted March 30, 2015 http://www.newstalkzb.co.nz/news/national/ird-chasing-trademe-users-details/ Quote Share this post Link to post Share on other sites
Michael. 2312 Report post Posted March 30, 2015 Hardly surprising... You would assume any reputable TM store would be paying taxes on any profits, granted it's probably their main business. There is a wave of pseudo stores though, selling in bulk but not actually titled as a TM store... if they havent bothered with such I'm sure they don't bother keeping their books tidy either, no doubt those would be the ones the IRD wishes to hunt. 2 Quote Share this post Link to post Share on other sites
dkonsta1 109 Report post Posted March 30, 2015 Depends if they will look for the real sellers or just the amateur ones. Let's see.... 1 Quote Share this post Link to post Share on other sites
HSB 282 Report post Posted March 30, 2015 Right you know that saying the only things sure in life are death and taxes? Well.. round of applause to TradeMe for refusing to fold to IRD's initial expansive request for all data. Putting on the breaks on the request and getting it all the way down to 44,000 users (what suggests to me as a high-use user threshold) is really looking out for the client's best interest. Quote Share this post Link to post Share on other sites
actletpone 43 Report post Posted March 30, 2015 Hardly surprising... You would assume any reputable TM store would be paying taxes on any profits, granted it's probably their main business. There is a wave of pseudo stores though, selling in bulk but not actually titled as a TM store... if they havent bothered with such I'm sure they don't bother keeping their books tidy either, no doubt those would be the ones the IRD wishes to hunt. Just because a seller is not titled as a trademe store doesn't mean they are not a genuine seller, nor does it mean they don't keep their books tidy / evade tax. To be a trademe store you have to have pay a minimum of $150 in trademe success fees each month. There is also a minimum store setup fee of $399 and a $79 monthly fee to maintain your store status. To some sellers after success fees and everything else it simply isn't worth it. In regards to the original question, if you have nothing to hide, you have nothing to fear. Right you know that saying the only things sure in life are death and taxes? Well.. round of applause to TradeMe for refusing to fold to IRD's initial expansive request for all data. Putting on the breaks on the request and getting it all the way down to 44,000 users (what suggests to me as a high-use user threshold) is really looking out for the client's best interest. Trademe are concerned about the clients best interest because every dollar they don't receive in fees from sellers who are evading tax is one less dollar of revenue. Quote Share this post Link to post Share on other sites
HSB 282 Report post Posted March 30, 2015 In regards to the original question, if you have nothing to hide, you have nothing to fear. Every single person that I have come across who indulges in lines such as these never run logical arguments and tend to rely on broad brush rhetoric. Oh, and in regards to TradeMe and their commercial position - IRD can in fact compel TradeMe to relinquish that information. See Tax Administration Act 1994 section 16 (1). So, back to my original point, the fact they said no, speaks volumes. Quote Share this post Link to post Share on other sites
actletpone 43 Report post Posted March 30, 2015 Every single person that I have come across who indulges in lines such as these never run logical arguments and tend to rely on broad brush rhetoric. Oh, and in regards to TradeMe and their commercial position - IRD can in fact compel TradeMe to relinquish that information. See Tax Administration Act 1994 section 16 (1). So, back to my original point, the fact they said no, speaks volumes. I don't agree with that line in every circumstance but in this one I do. The IRD are chasing TradeMe users details looking for people who should be paying tax i.e people who have been purchasing items with the intent of reselling them and making a profit. Why is that an issue unless you have been doing so without paying the required tax? Privacy? It's not like the IRD don't already know your address etc and their not going to be interested in what you have been buying / selling unless they have reason to. Whether we should have to pay as much tax as we are required to is a separate issue. Quote Share this post Link to post Share on other sites
Tristan 338 Report post Posted March 30, 2015 no doubt those would be the ones the IRD wishes to hurt. fixed it for ya mate 1 Quote Share this post Link to post Share on other sites
Michael. 2312 Report post Posted March 30, 2015 Just because a seller is not titled as a trademe store doesn't mean they are not a genuine seller, nor does it mean they don't keep their books tidy / evade tax. To be a trademe store you have to have pay a minimum of $150 in trademe success fees each month. There is also a minimum store setup fee of $399 and a $79 monthly fee to maintain your store status. To some sellers after success fees and everything else it simply isn't worth it. Of course... I'm just speculating. Pretty much what most people do on this forum. I can see where you're coming from on the matter, but like anything some people will play it by the book, others wont. Such is life. 1 Quote Share this post Link to post Share on other sites
m325i 705 Report post Posted March 31, 2015 If you buy/sell something with the intent to make a profit you need to pay tax. Pretty simple. Quote Share this post Link to post Share on other sites
westy 614 Report post Posted March 31, 2015 If you buy/sell something with the intent to make a profit you need to pay tax. Pretty simple. That's true. Pretty typical of IRD to chase the low hanging fruit though.... 1 Quote Share this post Link to post Share on other sites
Michael. 2312 Report post Posted March 31, 2015 How dare you suggest this! We're all experts on everything! We're a nice bunch of speculators Quote Share this post Link to post Share on other sites
