GST going up, Personal and company tax going down, CGT in investment property

**Tank** · 20th January 2010, 13:30

http://www.nzherald.co.nz/business/n...ectid=10621245

Im guessing that a number of the items are going to be adopted. As they say the current tax system has a lot of problems.

Personally I think that all the above (in the title) are great ideas.

What are your thoughts !!!!!

(Sits waiting for the lefties to moan about 'rich pricks' getting tax breaks)

**madmal64** · 20th January 2010, 13:36

Gets a tick from me.
The proposals seem far fairer than the current system.

**mashman** · 20th January 2010, 13:40

The only one i have a problem with is the GST. After all it's on the "staples" of life and that won't be good news for those who are just surviving. Other than that it doesn't look too bad.

**Pascal** · 20th January 2010, 13:41

I like it in principle. Any tax system geared less towards punishing wealth creation and more towards consumption is better than the 9 years of envy tax we've had to endure.

**wickle** · 20th January 2010, 13:42

it was always the intention that GST would be higher and personal tax lower , at one time I'm shore 20% GST was mention and little or no personal tax was a option, not a bad idea save and make more spend and pay tax.

**yungatart** · 20th January 2010, 13:49

Originally Posted by mashman

The only one i have a problem with is the GST. After all it's on the "staples" of life and that won't be good news for those who are just surviving. Other than that it doesn't look too bad.

If the reduction in personal tax is enough, it should offset increases in GST...well, in an ideal world, anyway...

**rainman** · 20th January 2010, 13:53

Originally Posted by Tank

(Sits waiting for the lefties to moan about 'rich pricks' getting tax breaks)

I/S says it better than I ever could:

Originally Posted by Idiot/Savant

A group of rich, right-wing ideologues wants a more regressive tax system which sticks it to the poor with higher GST while giving tax cuts to the rich and opening new loopholes for them to dodge paying their fair share through corporate fronts.

Screw that.

Originally Posted by mashman

The only one i have a problem with is the GST. After all it's on the "staples" of life and that won't be good news for those who are just surviving.

Most of NZ's problems would be improved by raising wages and employment levels. Not sure how these proposals will do that. More GST will be plenty hard for those at the bottom of the pile, so exempting basic foodstuffs would be better. Might be too complex for us, though.

Originally Posted by wickle

it was always the intention that GST would be higher and personal tax lower , at one time I'm shore 20% GST was mention and little or no personal tax was a option, not a bad idea save and make more spend and pay tax.

Paradox of thrift? Remember spending is what drives the economy.

**Pascal** · 20th January 2010, 13:55

Originally Posted by rainman

Remember spending is what drives the economy.

You can't spend money you don't have.

**mashman** · 20th January 2010, 13:56

Originally Posted by yungatart

If the reduction in personal tax is enough, it should offset increases in GST...well, in an ideal world, anyway...

but not everyone that buys food has a job. Let alone getting the food from those fuckin vans that charge a fortune... in an ideal world, money wouldn't exist!

**James Deuce** · 20th January 2010, 13:56

That'll probably fuck me owning a bike. Srsly.

**mashman** · 20th January 2010, 13:57

Originally Posted by Pascal

You can't spend money you don't have.

but the government are borrowing it at a staggering 250mil per week... So run that one past me again!

**Mully** · 20th January 2010, 13:58

Originally Posted by Pascal

You can't spend money you don't have.

Tell that to my wife.......

On topic: the proposals appear to be better for me. And that's what important.

**rainman** · 20th January 2010, 13:59

Originally Posted by Pascal

You can't spend money you don't have.

Dunno, we seem to have been managing fine with that approach for a while. As have most of the western economies - notably the US.

EDIT: You do know money isn't like gold bars in a vault, right?

**p.dath** · 20th January 2010, 14:00

Originally Posted by Pascal

You can't spend money you don't have.

The nzherald article doesn't really discuss how property tax will be done, but I'm in favour of higher gst, lower other taxes. It provides a good inscentive to save (which NZ needs to re-learn), and everyone as to spend if they want something, so the tax applies to all. GST is simple to administer, and very hard to avoid.