2011 Budget

[Edbear]

Im self employed

Love it , moneys good , Holidays are fantastic , drink beer anytime I want ...and what I did to the secretary last weekend you could print in a public forum ( it should be IN forum!)
Next week I am jetting out to Bahrain to have a beer with a good friend (JT LeRoy) before returning back to Japan

I have No Idea why you fellas make such hard yards of it .......

Stephen

Some of us a bit wary of Earthquakes and Tsunamis that make NZ seem like small fry...

[Winston001]

Successful people are those that are self-reliant, can take care of themselves and their families, take reasonable steps to protect against future risk, and then apply themselves to helping the rest of society rather than exploiting it...

...it's what's in your heart, your brain, and your actions, that defines value in a human being.

Agreed and well expressed.

Key seems to be someone who's in it for himself, for the glory - he's borderline narcissistic. If he's NZ's idol/ideal, then $deity help us all.

Mmm...oddly enough I don't have that impression of the guy at all. In fact he appears to be very ordinary, no obvious ego, no obvious flaws. In fact I'm surprised he's risen to PM but possibly he's an anti-dote to Helen Clark's firm leadership style. Laidback has its attractions at times - but not for long.

Anyway I don't think we can advance each others opinions by denigrating MPs unless there are obvious faults. Its a no-win argument. Instead we should focus on the bigger issues like how the heck the most remote first-world nation on Earth can continue to provide a safe high-tech home for our children.

[puddytat]

Successful people are those that are self-reliant, can take care of themselves and their families, take reasonable steps to protect against future risk, and then apply themselves to helping the rest of society rather than exploiting it. I don't give a fuck about how many zeroes there are in your bank balance, how big your telly is, or what car you drive - it's what's in your heart, your brain, and your actions, that defines value in a human being.

.

Pretty simple really.....for some.

[Winston001]

...got chatting to an elderly farmer in the local Cossie club. He was saying that it had bee a good year for him this year and was probably going to post his first profit (in something like 30 years IIRC)...

My guess is that the reason he's finally making a profit is that he's run out of write-offs and land buying opportunities.

I suspect that that's the sort of thing Superman is referring to. this guy has increased his personal wealth substanially while never actually making a profit.

Farmers are probably able to call a lot of their living expenses "business expenses" not sure it would be so easy for other type of small businesses though.

Just a quick note: if you aren't making a profit, you aren't making money. The problem is many people think what you express above - I used to as well.

Here's how it actually works: you buy a block of land or building. You borrow the money. In the first year you make mortgage payments of $20,000. You think you can deduct all of that from your gross business turnover right? Wrong. Lets say $10,000 is interest - that is deductible. But the other $10,000 is reduction of debt - and that comes out of your income = taxable.

Its exactly the same for your business vehicle - loan repayments apart from interest are taxable income. Capital sums.

There is a lot more which can be said on the topic but this isn't the best thread for it. I see Labour are attacking farmers now so we can discuss that elsewhere.

[Ocean1]

Instead we should focus on the bigger issues like how the heck the most remote first-world nation on Earth can continue to provide a safe high-tech home for our children.

Send the wee darlings out to work.

I'm tired of supporting the fuckers, time they did a turn.

[steve_t]

Anyway, back to the budget. Wotcha think of Labour's response then?

Did anyone else think Phil Goff's speech was a bunch of generic bollocks and that it sounded like the speech was prewritten ages ago? It didn't really seem to address any parts of the budget itself but more just harp on about the state of the nation and just basically try to rubbish National. Phil Goff just doesn't seem to have anything interesting or with substance to say

[Pussy]

Did anyone else think Phil Goff's speech was a bunch of generic bollocks and that it sounded like the speech was prewritten ages ago? It didn't really seem to address any parts of the budget itself but more just harp on about the state of the nation and just basically try to rubbish National. Phil Goff just doesn't seem to have anything interesting or with substance to say

Yep! Shit talk, as per normal. He's an idiot.

[mashman]

blah blah blah charitable donations

do you think he claimed for his charitable tax incetive?

Did anyone else think Phil Goff's speech was a bunch of generic bollocks and that it sounded like the speech was prewritten ages ago? It didn't really seem to address any parts of the budget itself but more just harp on about the state of the nation and just basically try to rubbish National. Phil Goff just doesn't seem to have anything interesting or with substance to say

by the looks of things he knows how to play the game too. If you can't beat 'em etc... shame though.

pretty much everything you've said

I can't bling you again... fancy being PM

[rainman]

Your brand of pompous pseudo intellectualism is what's gonna keep the left out of power for the next generation.

... praise the lord.

Never understood the right's discomfort with intellectualism... I mean, what's the alternative? Being a philistine? Or is it you think intellectual=academic and you have unresolved teacher issues? Probably got me on the pompous, though.

Here's how it actually works: ...
...loan repayments apart from interest are (paid from) taxable income.

Bear in mind though most of us can't easily offset mortgage or vehicle loan interest against income, at least for the family home/car. With farmers it's somewhat easier to merge business and personal spending, because the home is part of the productive workplace.

It will be interesting to see the reaction to Labour's ETS plans. Although I have a lot of interest in seeing a proper mechanism implemented to address GG emissions, it's an area to move carefully in. There are some very wealthy farmers who can afford it, but will resist any attempts to pay their share/change their practices to address climate change. Theres are also lots of smaller guys who aren't making enough money to get by as it is. Probably politically smart though, most of them won't vote Labour either way.

fancy being PM

No fear, I'd be terrible at it. Really crap at smile, wave and tell the people what they want to hear.

Also I'd tell the (genuine) bludgers to get off their arses, tell the (genuinely) rich to stop being greedy fucks, and tell the rest of the world to go to hell, so I'd be hated by everyone.

[oneofsix]

No fear, I'd be terrible at it. Really crap at smile, wave and tell the people what they want to hear.

Also I'd tell the (genuine) bludgers to get off their arses, tell the (genuinely) rich to stop being greedy fucks, and tell the rest of the world to go to hell, so I'd be hated by everyone.

you sound just like the person we need for PM someone who doesn't want the job.

[Clockwork]

Just a quick note: if you aren't making a profit, you aren't making money. The problem is many people think what you express above - I used to as well.

Here's how it actually works: you buy a block of land or building. You borrow the money. In the first year you make mortgage payments of $20,000. You think you can deduct all of that from your gross business turnover right? Wrong. Lets say $10,000 is interest - that is deductible. But the other $10,000 is reduction of debt - and that comes out of your income = taxable.

Its exactly the same for your business vehicle - loan repayments apart from interest are taxable income. Capital sums.

There is a lot more which can be said on the topic but this isn't the best thread for it. I see Labour are attacking farmers now so we can discuss that elsewhere.

I'm no accountant, Winston but I think you're looking at this as a private individual. If a business buys an asset, the cost of that purchase is deducted before any profits are declared are they not? The farmer pays himself minimum wage 'cos he's just barely getting by but the company he owns has just become worth more. Of course as there is no Capital Gains Tax, so eventually it all ends up in his bank account tax free, yes?

[Ocean1]

Never understood the right's discomfort with intellectualism... I mean, what's the alternative? Being a philistine? Or is it you think intellectual=academic and you have unresolved teacher issues? Probably got me on the pompous, though.

And the pseudo. Don't forget the pseudo.

[Oscar]

Because, as you say, rigor is my thing. It may be prudent for you to revisit your original post at this point, just saying.



Dunno, there's a couple of other explanations that spring to mind, none of which involve altruism.

Anyway, back to the budget. Wotcha think of Labour's response then?

My original point was that MP's (of whatever stripe) can't be in it for the money, and following along - John Key is definitely not in for the money.

Yes, back to the budget.
‎Labour's response is probably as weak as the budget itself.
It was interesting to so the way it was reported - State TV made a fuss of Labour's child protection agenda, whereas TV3 simply reporting that Labour intended to close of a Govt agency to save money.

Both parties responses are not surprisingly targeting the others constituents - National having a go at beneficaries and students, Labour the farmers.

Neither of them seem to have grasped the nettle, but it's hardly surprising in an election year, is it? I'd give the Govt. the edge at the moment firstly as they are showing where the moeny is coming from, and seondly because they're making the most controversial part of their programme an election issue.

[Oscar]

Never understood the right's discomfort with intellectualism... I mean, what's the alternative? Being a philistine? Or is it you think intellectual=academic and you have unresolved teacher issues? Probably got me on the pompous, though.

I have no problems with intellectualism or teachers (I am married to one, my mother ‎was one). I was speaking of “pseudo intellectualism”‎

For example, you say:‎

‎“..thus your initial parroting of party lines is still intellectually weak, and ‎unsubstantiated by any facts.”‎

This was not “a party line” and I don’t see how it was intellectually weak. My ‎conclusion was - it was all over the media for several years, and if it wasn’t true, the ‎truth is easy to find, and there are an awful lot of people who would have found it by ‎now. Notwithstanding that, you have no evidence to contradict the claim.‎

You then crack into your work with this beauty:‎

‎“Key seems to be someone who's in it for himself, for the glory - he's borderline ‎narcissistic..”‎

This is your personal observation and normally I would leave it at that, but for one ‎accusing others of lacking intellectual rigor, making pronouncements like that, giving ‎no evidence for one’s opinion – just silly really, isn’t it? ‎

[mashman]

No fear, I'd be terrible at it. Really crap at smile, wave and tell the people what they [b]"need"[b] to hear.

Also I'd tell the (genuine) bludgers to get off their arses, tell the (genuinely) rich to stop being greedy fucks, and tell the rest of the world to go to hell, so I'd be hated by everyone.

fixed for ya... Sounds like you fit the bill to me ... job's yours.

I'm comfortable with a PM that has that attitude towards the Country too... +1 on the rest of the world... and I can live with you being hated by everyone