The 2017 Election Thread

[Crasherfromwayback]

The last farm I sold I made a Capital gain of 50% in 15 months, yet I paid no tax on the income

Fuck Glenn...you're the man!!!!!

[Crasherfromwayback]

Stalker alert.

If it wasn't actually him quoting one of my own post you might have me

https://www.kiwibiker.co.nz/forums/s...Thread/page135

Hey look! Old 17 year old girl stalker is digging up posts from 2008! Ten years worth of digging. Fancy that! What are the odds?

[jasonu]

She doesn't look too hot when she's doing the possum caught in the headlights backpedal.

and of late that is just about a daily occurrence...



Maybe she'll take an early and extended maternity leave. It's not like that will have any effect on her job performance though.....

[Katman]

Do you think the lower socioeconomic pleb that Labour attract are going to be better off somehow?

And we're all well aware of your contempt for 'lower socioeconomic plebs'.

[Voltaire]

We need some real news media, not some talkback host and his wife along with old git Barry and his Missus.

[sidecar bob]

And we're all well aware of your contempt for 'lower socioeconomic plebs'.

Well yes, they need to pay a bit more tax to prop up all the shit that gets handed to them. I spent my lunchtime yesterday having all the different taxes I need to pay in the next six months explained to me by my accountant, so it's a bit raw at the moment & that didn't include any fuel tax or GST on daily items, just the big lump sum stuff with regard to my personal circumstances. Anyone that has only ever paid PAYE (which your boss collects & pays on your behalf anyway) couldn't even imagine what really goes on once you go much beyond that.
As for CGT on property, I'm fine with paying that, it's just that its going to, in a round about way, come from a non property owning, lower socioeconomic pleb tenants pocket. Having said that, I have tenants that I suspect are far better off than me too.
I can't just pull it out of my arse can I? I take these risks to improve my own quality of life, not to get the bejesus taxed out of me & end up with zero reward so people that are too chicken little to do it can benefit instead.
And wait for the following in the next three years, increased fines for anything that you can be fined for, sold to us as crime disincentive, a rise in GST & a rise in vehicle rego fees, to name a few.
They said no new taxes, but they said nothing about hiking the shit out of existing ones, even though they have introduced a new tax already anyway.

[oldrider]

We need some real news media, not some talkback host and his wife along with old git Barry and his Missus.

Donald J Trump tweets. https://twitter.com/realDonaldTrump?...rymakow.com%2F

[husaberg]

As for CGT on property, I'm fine with paying that, it's just that its going to, in a round about way, come from a non property owning, lower socioeconomic pleb tenants pocket. Having said that, I have tenants that I suspect are far better off than me too.
I can't just pull it out of my arse can I? I take these risks to improve my own quality of life, not to get the bejesus taxed out of me & end up with zero reward so people that are too chicken little to do it can benefit instead.
And wait for the following in the next three years, increased fines for anything that you can be fined for, sold to us as crime disincentive, a rise in GST & a rise in vehicle rego fees, to name a few.
They said no new taxes, but they said nothing about hiking the shit out of existing ones, even though they have introduced a new tax already anyway.

I am a bit puzzled as your comment about capital gains tax.
Because you only need to pay the CGT on property when you sell the property within a defined time frame.
So its not as if you are going to have to pay a tax without getting the income first now is it., what you are referring to do, is too charge your tenants because you are now having to pay a tax on a income that is only realised when a property is actually sold. So that has nothing to do with their property they are renting at all.
As for increased GST it was National that last raised it, They said at the time they raised it in 2010 to pay for tax cuts. Did you moan about that then?
Also as a legitimate business you can claim back the GST you pay or conversely charge the rate higher to cover the cost, so what's the issue with GST its a tax only really paid by people not in business or for non business costs. Poor people on the whole actually pay a higher rate of their income as GST as in their case its spend the necessities of life, Food ,Rent etc yet they have no ability to claim this back.
If Labour was smart about it they would ensure only luxury goods and travel had higher rates of GST plus lower the rates of GST on basic staples of Food, Rates etc.

[Swoop]

I am a bit puzzled as your comment about capital gains tax.
Because you only need to pay the CGT on property when you sell the property within a defined time frame.

That isn't enacted as law yet, so the real behind-the-scenes agenda will come out IF liarbour bring this tax in on property (remember it isn't just "houses" but any investment).
Liarbour love taxes.


A bit like the increase of GST to 15%... If it was soooooooo bad they would have repealed it when they got into government.
No sign of that happening is there...?

[Crasherfromwayback]

A bit like the increase of GST to 15%... If it was soooooooo bad they would have repealed it when they got into government.
No sign of that happening is there...?

That's a lame argument even for you.

[husaberg]

That isn't enacted as law yet, so the real behind-the-scenes agenda will come out IF liarbour bring this tax in on property (remember it isn't just "houses" but any investment).
Liarbour love taxes.


A bit like the increase of GST to 15%... If it was soooooooo bad they would have repealed it when they got into government.
No sign of that happening is there...?

True, but what I was saying was in reply to Bobs doom and gloom analogy.
I think you really need to explain why income in your opinion that is solely derived from short term investments need to be not treated as income?
Especially when you consider that same profit of money placed in a bank earning interest is actually taxed as being income.

[Graystone]

No, that was just today's hand in the taxpayers pocket up to the nutsack.
Wait until next month, when they extend the capital gains tax on investment property out to five years.
I'm not guessing on that one, it will happen.
Also, extending paid holiday to five weeks a year, just like Helens govt took it from three weeks to four. Another 2.5% increase in non productive wages that business will have to find, on top of paying more for everything due to the fuel tax.
Do you think the lower socioeconomic pleb that Labour attract are going to be better off somehow?

In the taxpayers pocket? Tell me, have either of those things been pushed through and legislated?
Here I thought TDL was king of shit analogies...

One can only hope they sort out the investment property bullshit, why not just make it so people pay tax on their investment gains; novel strategy that it may be

[Crasherfromwayback]

One can only hope they sort out the investment property bullshit, why not just make it so people pay tax on their investment gains; novel strategy that it may be

I think I read somewhere that nearly every National politician owned at least two properties? Hardly surprising they don't want to get taxed for doing so eh?

[sidecar bob]

I think I read somewhere that nearly every National politician owned at least two properties? Hardly surprising they don't want to get taxed for doing so eh?

I'd be surprised if it was only two.
Anyway, I was the guy that spent the day running around on an ageing Yamaha Majesty scooter that owes well under a grand, doing his chores today.
I'm not sure how many times I've denied myself the latest Porsche turbo in favour of buying property, but maybe it's time to stop paying tax on property & indulge myself so I look like more of a tool than I do riding my scooter & reduce my tax liability in to the bargain.

[Ocean1]

why not just make it so people pay tax on their investment gains; novel strategy that it may be

Because taxing capital gains on residential property investments makes it more profitable to stick your money in the bank.

According to a local senior agent the market is already bulging with medium to low end properties as investors move equity elsewhere. And you thought you already had a housing crisis.