Dear Mr English, I don't want a tax cut

[Quasievil]

Bankers that will retire on potentially 1 million dollars a year...

wooo hoooo Im going to be a Banker then when I grow up

[Mully]

b. Pensions are earnings related, not tax paid related to my limited knowledge? you have Kiwi Bankers here don't you? Bankers that will retire on potentially 1 million dollars a year...

Unlikely.

They'll have a State (UK) Government Pension, much like here.

They'll most likely also have a retirement savings scheme - employer and employee contributions - as well, which will subsidise their State Pension.

Keep in mind, of course, that the returns on their pension fund are also taxable.

[mashman]

You must know some really rich people given only 3% of NZers earn more than 200k, can you ask them to get in touch with me as I would love to know how I can I scrape of 170k of my salary and get under the min tax bracket??

I'm not that surprised that I know a few out of 60,000 (REPORTED)... that's only NZ'ers? not people who work in NZ? If you're scraping by, I must be in poverty

[mashman]

Unlikely.

They'll have a State (UK) Government Pension, much like here.

They'll most likely also have a retirement savings scheme - employer and employee contributions - as well, which will subsidise their State Pension.

Keep in mind, of course, that the returns on their pension fund are also taxable.

Sorry, yup, my bad, skim read Smiffy's post and missed the last bit about gummint... cheers for pointing out Mully and went off ranting like a mad man as per... make mine a large humble please...

BUT, what I meant was that those taxes that they haven't put into the coffers most likely go towards their pension...

So yes the pension is taxable, but if they're good enough to hide it from the tax man for X amount of years, I doubt that'll suddenly change when they hit pension age...

[aprilia_RS250]

Meant wipe 170k of my 200k income (BTW I don't earn anywhere that amount though) so I fall under the min tax bracket? Surely if they have such a high income and can write off 85% I could easily do it with my weasly wage then. SO what 's the secret then??

[mashman]

Meant wipe 170k of my 200k income (BTW I don't earn anywhere that amount though) so I fall under the min tax bracket? Surely if they have such a high income and can write off 85% I could easily do it with my weasly wage then. SO what 's the secret then??

And you ride an Aprilia

Dunno. I've never asked them. Always assumed it was just "bad" asset based...

[mashman]

wooo hoooo Im going to be a Banker then when I grow up

sooooo tempting

[aprilia_RS250]

And you ride an Aprilia

Dunno. I've never asked them. Always assumed it was just "bad" asset based...

so you don't really know or understand? You reckon they were selling you porkies then?

[aprilia_RS250]

What's an Aprilia got to do with anything?

[Swoop]

Oh shit. Someone's started Swoop off about Kiwibank again.

Yeah...
Went in to re-register the bike (for the final time) the other day. The queue was back to the entrance door to the Postshop...
Bloody Kiwiwank.

[Mudfart]

Good points, but a little naive if you think those are the alternatives.

I used to think NZ could be like Denmark - fantastic public services (hospitals and the like) but enormous taxes.

I've since come to the conclusion that NZ politicians (of any colour) are so inept, that it'll make no difference. Therefore, I might as well take the money and buy health insurance & burglar alarms to protect me and mine.

(BTW, why shouldn't "clever and hard working" people be rewarded by getting to keep more of the fruits of their labour?)

Nz could be like denmark. my ex was danish so i learned a bit about it. they pay 50.5% tax and get all education incl tertiary, all healthcare, paid for by the state, for the uninitiated.
Take me, I earn what is currently just under the average wage for NZ, and under Aucklands average wage by about $4 P/h, source NZherald.
If I and every average earner pay 33% PAYE plus 12.5% when you spend your money on anything, thats 45.5% already. By the time you add petrol tax, MV rego, ACC levies, and voluntary insurances it comes to well over 50.5%. Infact they call what I do, a JOB.
That is, Just Over Broke. They say the system we have is designed to keep people with JOBS only barely with their heads above the water, and infact promote us borrowing to always be in debt. I can only imagine that with all living costs my total household expenditure per paypacket is currently around 175% due to the amount borrowed. Its not looking good for ever getting a house, or retirement.
So fark it, Im getting a kick ass bike.

[Quasievil]

So you political fuckers, have ANY of you even to BOTHER looking at my new Ride thread and drool over its awesomeness...........No ya fucking havent have ya, did you forget this is a biker site (when it suits me) FFS Im cool as a mutha fucker and you aint even said so !

[Mully]

Yeah...
Went in to re-register the bike (for the final time) the other day. The queue was back to the entrance door to the Postshop...
Bloody Kiwiwank.

There's your problem.

Do it on the interweb. They send the thing to you. The only drawback is if you've let it expire already and you have to wait for them to send you your label.

(plus, post shops don't let you pay credit card anymore, so you miss out on screwing them for the comission and your rewards points)

[Swoop]

Do it on the interweb.

How does one fill in an MR27 form on the interdweeb, to extend the registration period?

[Brian d marge]

Nz could be like denmark. my ex was danish so i learned a bit about it. they pay 50.5% tax and get all education incl tertiary, all healthcare, paid for by the state, for the uninitiated.
Take me, I earn what is currently just under the average wage for NZ, and under Aucklands average wage by about $4 P/h, source NZherald.
If I and every average earner pay 33% PAYE plus 12.5% when you spend your money on anything, thats 45.5% already. By the time you add petrol tax, MV rego, ACC levies, and voluntary insurances it comes to well over 50.5%. Infact they call what I do, a JOB.
That is, Just Over Broke. They say the system we have is designed to keep people with JOBS only barely with their heads above the water, and infact promote us borrowing to always be in debt. I can only imagine that with all living costs my total household expenditure per paypacket is currently around 175% due to the amount borrowed. Its not looking good for ever getting a house, or retirement.
So fark it, Im getting a kick ass bike.

and I think that sums it up very nicely
BTW , has or is Denmark under the watchful eye of the international Bankers?

what resources does Denmark have ?

Stephen