15% GST

[MisterD]

I've always said an Anderton/Jones leadership will blow Kkey and the Nats off the planet. Problem is not many in Labour see this and Labour does have a history of giving away elections.

Skyryder

Anderton and Five Chins? Sounds like a right-winger's wet dream...Kelvin Davis would worry me as a front man for the Union movement but neither of those names do.

Labour also has a history of buying elections...

[mashman]

Anderton and Five Chins? Sounds like a right-winger's wet dream...Kelvin Davis would worry me as a front man for the Union movement but neither of those names do.

Labour also has a history of buying elections...

and the "right wing" has a history of killing off unions... wonder how hard it is for Labour to buy elections... I don't vote, never have in my 21 years of being allowed to... I don't porescribe to anyones politics as they always seem half arsed and the opposite of what the opposition say... ergo no common ground, not for the people, they're all the same with slightly different agendas, nothing changes, nothing gets better...

[Pascal]

in order to actually acheive this for everyone they would need to drop the income tax brackets far enough to offset the 2.5% increase in GST, therefore negating the use of the rise, and obsoleting any additional funds that may be used for increased benefits.

So let's read that correctly. The government is aiming at changing WHERE the tax take comes from. What is the benefit here? It's simple really.

You are no longer punished for working harder and improving yourself and your family's income.
You are punished for spending more.

So what do you do? Upskill. Earn more. More money in hand. More savings. A better retirement. More ability to have a holiday. And more incentive to reduce needless consumption. The choice and the benefit will be up to each individual. If you're one of those that needs a new mobile phone / iPod every three months yeah, you're fucked. If you're sensible and start considering your financial future you're in a way better position.

[Skyryder]

Anderton and Five Chins? Sounds like a right-winger's wet dream...Kelvin Davis would worry me as a front man for the Union movement but neither of those names do.

Labour also has a history of buying elections...

Keys tax package at the last election was just that. Buying votes. He4 also knew that the country could not afford them.

Theother interesting thing than many have no noticed is that when Anderton started weighing in on Westpac and their tax evasion Key shut up. I have it on good authority that Key was advised to back off with Anderton on this issue.

On the Sharples and his co leader.................neither can come close to taking on Shane Jones and they know it. Actually Jones could take on all three.............with ease. There is still a lot of disquet within the Maori Party..............not too mention maori in general over the direction that the Maori Party is heading. The split will come when some will want to go back to Labour. When that will happen is anybodys guess...............but happen it will.


Skyryder

[Pascal]

On the Sharples and his co leader.................neither can come close to taking on Shane Jones and they know it. Actually Jones could take on all three.............with ease. There is still a lot of disquet within the Maori Party..............not too mention maori in general over the direction that the Maori Party is heading. The split will come when some will want to go back to Labour. When that will happen is anybodys guess...............but happen it will.

ORLY?

/10chars

[The Stranger:Me]

Keys tax package at the last election was just that. Buying votes.

Lets face it, he couldn't beat the system used so effectively by herr klark and swallowed by the gullible fools (women, maori, students, fags, grey power and skyryder) for so long that he had to join it.

[mashman]

Lets face it, he couldn't beat the system used so effectively by herr klark and swallowed by the gullible fools (women, maori, students, fags, grey power and skyryder) for so long that he had to join it.

if ya can't be 'em... buy the votes of the business world (15% GST would sound nice to me if i was selling stuff)!!!

[The Stranger:Me]

if ya can't be 'em... buy the votes of the business world (15% GST would sound nice to me if i was selling stuff)!!!

Ok, this is likely a piss take, but on the extremely remote chance that anyone really is stupid enough you actually believe what you wrote, I'll give you the benefit of the doubt this once.
You do realise that the govt takes that 15% don't you. The clue is that it's called a Goods and Services Tax. You will note it's not called GSP.
So it (the GST increase) puts the price of goods and services up thus reducing people's ability to afford goods and services.

[Ixion]

Business has to fund the extra cash flow for the increase too. Not too major unless you're a machinery importer or car dealer .

[Mully]

Business has to fund the extra cash flow for the increase too. Not too major unless you're a machinery importer or car dealer .

Mmm, that's very true.

2.5% extra could be an issue for them to carry. Particularly car dealers holding stock.

[MisterD]

Keys tax package at the last election was just that. Buying votes. He4 also knew that the country could not afford them.

Buyiing votes by letting people keep their own money...gotta love that McCarten-esque spin. It's the spend, spend, spend, policies of Clark & Cullen that the country can't afford and that JK hasbeen scared to touch.

[p.dath]

Ah, do you own a business, shares or a rental property?

I've owned all three, but at the moment I'm sitting out of the share market and the rental market.

You do realise that the profit from buying shares and selling them 10yrs later is not taxable either.
Or your mom and pop business either.

You are correct. I was wrong. Only trading is a taxable activity, and if you sit on something for 10 years you would be regarded as an investor.

35% of our housing stock is rental. Who's going to supply the housing for the me now generation?
As I've previously noted, you take away the investor's return on investment, you know where they'll be seeking to recover it don't you? That's right, from those that can least afford it.

As demand increases and supply remains static prices will naturaly rise. As prices rise, supply will increase until equilibrium is reached again. We have an under utilised building sector, so adding supply would be particularly easy at the moment if the demand existed ...

It's not the 0% interest capital gains tax that attracts people into the market, this is available to business and share owners too, it's the ease with which you can borrow (among other things)
Can you borrow 100% to fund a business? Could you afford to? The banks know damn well that business failure rates are HUGE, this is reflected in their lending.

I agree about the ease of borrowing. However the "rules" for rental property borrowing have somewhat changed in the current climate. I think less people will be getting 100% equity loans approved at the moment for residential property. Of course, if you have other equity to offer as security you can still achieve 100% finance on the equity in a single property.

Mum and pop can go out and get a rental or 2 with $0 deposit easy enough with minimal effort, low risk and a fraction of the compliance costs of running a business.
How many shares or businesses could they purchase with $0 dollars? How would these $0 dollar businesses help NZ?

I read a book late last year where Brad Sugars talks about one of his most profitable activities - where he buys businesses for nothing down, and takes over the debt (such as the remainder of a lease for a shop). He targets business owners who have had enough of the stress and just want to quit. Then he fixes up the business and sells it 3 to 12 months later.

Far more of our recession is related to a recession that started in the states, actually I think NZ has held up tremendously well compared to many other countries, perhaps because of the heavy investment in domestic property - which doesn't go broke and put people out of work.

I agree that a lot of what NZ has felt is due to foreign entities. I disagree that our residential property market has softened the blow. A strong export lead recovery which is created by businesses would have put NZ in a far better position.

Please stop regurgitating the petty jealousies of others and think for yourself.

Ouch. Always with the personal attacks.

Are you taking RRRS in March? I would very much like to meet you in person.

[mashman]

Ok, this is likely a piss take, but on the extremely remote chance that anyone really is stupid enough you actually believe what you wrote, I'll give you the benefit of the doubt this once.
You do realise that the govt takes that 15% don't you. The clue is that it's called a Goods and Services Tax. You will note it's not called GSP.
So it (the GST increase) puts the price of goods and services up thus reducing people's ability to afford goods and services.

the first bit was kinda tongue in cheek.

I thought you could claim GST back? Put that in with the knowledge that there are likely to be personal tax cuts also. People will go out and spend it. Call them what you like... but if there's extra cash in the pockets of some people, they will go and buy things. Goods prices are over-inflated anyway people will pay the same price, but they'll be shifting more units. I'm just saying it's a possibility. whether i believe it or not is neither hear nor there. I'm just guessing because i don't know. But if i was in business, i'd be rubbing my hands around about now in anticipation... national, you have my vote. Economy stimulated blah blah blah...

[p.dath]

Business has to fund the extra cash flow for the increase too. Not too major unless you're a machinery importer or car dealer .

Generally a business should be selling more than they buy, so should be collecting more GST than they pay, so only need to pay the surplus to the Government.

[bogan]

Buyiing votes by letting people keep their own money...gotta love that McCarten-esque spin. It's the spend, spend, spend, policies of Clark & Cullen that the country can't afford and that JK hasbeen scared to touch.

Think he meant buying votes by making promises that he knew couldnt be kept, or at least would be detremental to NZ'rs to keep. TBH the govt should lead by example, how bout trimming thier massive wages down a bit, say to 80k a year, If you cant live on that then get fucked, hell if a party wanted to buy my vote that policy would probably do it!