"Bold steps" by the g'ment - changes announced at 2pm today

[Tank]

http://www.nzherald.co.nz/nz/news/ar...ectid=10625089

Will be watching with interest - everyone believes that investment house Capital Gains and depreciation will be impacted (negatively if you have investment homes).

Top rate of tax - plenty suggesting it will drop from .39 to .35, .33 or possibly .30 (unlikely but oh God - I wish).

G.S.T - up to 15%

Working for Families - changes to make up for GST increase.

Will be interesting - what would YOU be doing if it was you having to make the decisions.

[Headbanger]

I'd halve business tax and start putting together free land and tax packages for overseas companies, and I'd be getting regional councils in on the act. If we want a strong economy, strong employment, then we need strong companies, end of fuckin story.


And I'd be pushing immigrants out of Auckland to bolster up the dying regional towns.

Don't give a rats arse about personal tax or GST, they are just hoping to tax us until we break (or fuck off to Aussie) in order to support the welfare state and the grievance industry.

Working for Families is bullshit, I do quite well out of it and even I can see how retarded that shit is.

[firefighter]

I would probably lower the highest tax bracket to 30%, charge the beneficiaries 20% tax, and raise GST to 15%. I'd then remove all GST from fresh fruit and veges, and un-seasoned/processed meat.

Cereals etc of a pre-determined required minimal sugar level would also be GST free.

If Aussie can do it, we can do it better.

Also i'd get rid of fucken secondary tax. If someone wants to work an extra job, they'd no-longer be punished for doing it, and would pay a lower tax rate, by say 5% lower than their full-time job. Therefore those actually making an effort to help themselves out, can actually do so without losing most of it and it being a waste of time.

I'd lower business tax, with tax breaks for first year businesses, and throw this land/investment tax thingee being introduced into the bin. Just because you have rentals and you use your money wisely and work hard for your future, does'nt mean you should be fucked in the ass for it. (perhaps the g'ment wants you to do what your tenants are doing and HP a $20000 car and spend your money that way instead?)

[Str8 Jacket]

The readers opinion makes for interesting reading in the Stuff story.

Until Dokey makes the announements who knows what's going to happen. But I am willing to bet that they will shove the change through ASAP....

[Tank]

. But I am willing to bet that they will shove the change through ASAP....

They have already said that they are ready to go right after May budget - expect April 1 start.

[Tank]

The readers opinion makes for interesting reading in the Stuff story..

I find I dont read them - normally they are the unwashed and uninformed and they just wind me up.

[firefighter]

expect April 1 start.

Says it all really!

[Ixion]

They have already said that they are ready to go right after May budget - expect April 1 start.

I bet any tax reductions will be delayed a year. or 18 months. Timed to come in just before the next election. But any increase in GST will be near immediate.

How will low income earners (not beneficiaries, low paid WORKERS, those abused and forgotten folk) who do not have children, be compensated for a GST increase?

I expect that I personally will be quite happy with the announcements. But the measure of a government is not whether it makes people like me or you happy.

[Ixion]

I find I dont read them - normally they are the unwashed and uninformed and they just wind me up.

Representative of the unwashed and uninformed standing by for winding up duties , baas.

[Str8 Jacket]

I find I dont read them - normally they are the unwashed and uninformed and they just wind me up.

hehe, a bit like KB! It's a shame that they dont just put up peoples posts/opinions without moderating them first!

[mashman]

Hmmmm, what would i do, hmmmm.... okay. I'd ban money, well remove the financial economy that we've all grown to love so much... off shoots should include, no need to have a taxation policy, everyone would be financially equal, crime would most likely drop to next to nothing, can't sell anything if there's no money. I'd introduce a task force to validate the necessity of businesses in the new financial less New Zealand.

Most likely financial institute employees, lawyers, accountants and businesses that provide no essential service to the country will be discontinued, or foreign companies would leave the country, what's the point in investment if there's no financial reward.

Un-employment would go through the roof. As there is no money this won't actually matter.

All i would ask in return is that NZ'ers would all work a 4 day 4 hours per day in their chosen field (that may need a little rework, but that'd be the aim, albeit you can train as a doctor/nurse/firefighter/police person/scientists/anything you fuckin like (skills you can use in a financial world should you wish to travel)). If you used to work in one of the financial institutes, help out a mate, take half of his working day and do it for him. If you know a farmer, take half of his working day. Food will still need to be produced, electricity will still need to be generated, as will any other "utility"...

No longer will a project be constrained by money and by default time. The infrastructure is in place, both governmental and communications wise, the emergency services will still be required, but if it's done correctly we could well become a self policing society. Don't get me wrong, people will still be people, but hopefully most of the idiots will settle given time and encouragement.

And so on and so on... I'd love to do a pros and cons list, but i can't find any cons!

Peace and love mutha fuckas!!!!!!

[Mully]

How will low income earners (not beneficiaries, low paid WORKERS, those abused and forgotten folk) who do not have children, be compensated for a GST increase?

How will those of us who are not "low paid" but are slogging the mortgage hard and therefore have little disposable income be compensated?

The trouble with raising GST and compensating beneficiaries (or anyone, for that matter) is that the cost (both in $$ and in admin) to compensate takes big chunks of the increased revenue.

As for what I'd do:
Keep tax write-offs for rental owners - insist on CGT being paid on sale (if they are "losing" money on the property, Capital Gain must be the reason for keeping it)
First $X of income is tax free (or tax rebatable)
No income tax on banked savings

As already said:
Secondary tax the same (or lower) than your primary tax rate
Lower the top tax rate and the business rate
Tax breaks for businesses starting (preference to NZ-owned businesses)

[Ixion]

How will those of us who are not "low paid" but are slogging the mortgage hard and therefore have little disposable income be compensated?

They would probably be 'compensated" by tax custs - lower taxes means more disposable income,- which the gubbermint then promptly takes back!. But at least they are no worse off.

[slofox]

what would YOU be doing if it was you having to make the decisions.

I'd give me $500,000, that's what...

[Deano]

Should the tax haven that are 'trusts' be abolished ?

That would get a lot of the rich paying their respective tax obligations wouldn't it or am I completely off track ?

I suspect it would never fly though cause most pollies and their mates would have money and assets in trusts.