Bemused at his reaction to his comment about paying almost no tax, entrepreneur Sam Morgan has blogged a response, elaborating on why the government gets virtually none of his coin.
Yesterday, he wrote:
These days I donate all of my taxable income to my
Bemused at his reaction to his comment about paying almost no tax, entrepreneur Sam Morgan has blogged a response, elaborating on why the government gets virtually none of his coin.
Yesterday, he wrote:
These days I donate all of my taxable income to my charitable foundation. Last year, from memory, this was $25m or so. You can read more about my foundation's work here: www.jasmine.org.nz.
The result of my donating all my income to charity is that I have have almost no income to tax. I intend to give most of my money away within my lifetime and most countries, including New Zealand, permit tax-free charitable giving. I support any policy that encourages charitable giving, particularly from the wealthy who can achieve more with their giving.
Read Mr Morgan's full post – including his take on capital gains tax, here.
The NBR Rich List puts Mr Morgan's wealth around $290 million.
