Tim Doyle
speaker
1,184 appearances
4 recordings
3 series
first heard Mar 2026
last heard 8 Jun
Tim Doyle’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 4 in all, peaking in Mar 2026 with 2.
Appearances
Well, it can be an extra 100% of the tax amount.
So in 99% of the cases we've filed so far, and we've probably done 500 or 600 of these in the past seven years, there's just been two in the last week since April that IID have started taking this position.
So just to rewind, this is what we mentioned when we were saying IID is getting a lot more aggressive now.
Now, those penalties, they have been remitted down to about 10% of the tax amount, and that's because of their good behaviour.
They haven't had this issue before.
and because they've been willing to engage and so forth as well.
But when you talk to IRD and try and ask them for the remission of their penalties, they're saying, hey, exactly what you said.
Hey, should have known better.
In one case, the client had actively taken out quite a lot of New Zealand dollars back.
He should have turned his mind to the taxable position.
It wasn't like he had sought advice from someone else and got poor advice and chose to ignore that.
So they're saying, hey, there's not enough mitigating factors.
Here's a 10% penalty on the tax amount.
Yeah.
Yeah.
So there are different, more efficient tax vehicles to own crypto through, but it comes back to fundamentally around why are you buying crypto in the first place?
And a lot of people like crypto or the early adopters because it's decentralized, because you're your own bank, because it's deregulated.
However, by buying these ETFs, you're effectively buying shares in a foreign company
And it's centralised.
You're trusting directors of a foreign company to own this and look after this.
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