FP, and here I was thinking that you have income from commercial properties. Isn't that a business?
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FP, and here I was thinking that you have income from commercial properties. Isn't that a business?
No. The IRD do not recognise property investment as a business. I think the same applies to shares, but not sure.
I should add that one of the great benefits of this is that I am not required to pay any ACC premiums. I only mention that because it's likely to reduce Belgarion to a blubbering mess.
"Put bluntly ... American made this bed of vipers" - Belge.
You should read a bit of history Belge, the conflict was not caused by Bush(es) but by the great schism in Islam between the Sunnis and Shias, the argument about the succession to Mohammed in the 7th/8th century. The conflict has been occurring and will occur independently of anything the West does or does not do.
The only chance to do something constructive was after Saddam was toppled. At that point Iraq should have been divided with defensible borders between the Kurds in the north, the Sunnis in the west and centre and the Shias in Baghdad south. In fact that is what is now happening whether Obama etc like it or not. But it would have saved countless lives and treasure if it had been done at the end of the 2nd Gulf War. The possibility was raised in a muted sort of way at the time but rejected out of hand by then world leaders without any sensible reason given for rejecting it.
Nouri al Maliki, just doesn't get it, he has a very limited mentality and world vision. His only thought seems to be to become a Shia version of Saddam and alienate the Sunnis and Kurds as much as possible.
Man I'm busy at the moment trying to run a business and working full time for another org. to boot. I'm doing it for me and my taxes will feed the useless and needy while belg complains it's not good enough. I should work harder to feed more useless lazy buggers. I've just about had enough of your moaning belg to last me a whole year and all in the last 24 hours. Then I think, just let him roll and feel his pain. I'll run with that, but will give you some advice and that is - Labour must look at itself, not blame National for the pathetic results D.C achieves. belg, keep on blaming National, because that wont fix the broken Labour Party. The way I see it, that's a big win, win, win but not for you belg. EZ and belg are part of the very reason Labour is in the crap right now, just look at how they blame National for their lack of popularity and everything else. The Labour Party is total crap, they are the useless party supporting useless and lazy kiwis. One of their favorite words is scab, well that's how I see the loonie left, scabs all of them as they are so negitive geared. Over half the population can't be wrong and that is why your next Govt. will be a National one again. Thank goodness for that too.
belg & EZ, get your laughing gear around that!!!
Cuzzie
dont be so grumpy. Im working so have not got time to post stuff. But got two days off next week and will post some brilliant stuff, which Im sure youll disagree with
Many thanks for that Sgt Pepper. Cuzzie doesn't quite grasp that Labour want to see everyone employed, or doing useful things. Being part of a fairer economy. If that means temporarily helping some out at a difficult time, then that is also OK.
I was graced with a bit of propaganda from Bill English today.
Quote:
Good afternoon (voter's first name)
New figures out yesterday show our economy grew by 3.8 per cent in the year to March 2014. (and before that it was going backwards)
New Zealand is now the third fastest growing economy in the OECD. (at last something to crow about)
This progress is no accident. National is a united team with a clear plan to build a stronger economy and manage the Government’s finances responsibly. That plan is working. (It should do, with the dairy and logging cheque going up through a happy circumstance, and we waited five years to see it).
Our next challenge is to lock in the gains of the past six years and turn them into more jobs and long-term prosperity for families. (Forget that unemployment was a lot lower under Labour, National is all about reducing jobs and holding down wages)
If we stick to our plan, we can deliver more for families and wages will will keep growing faster than inflation. We can stay in surplus and reduce debt. (The BIGGEST FIB of all, National has brought us all more govt debt and huge deficits for 5 years, while Labour had achieved the opposite)
But a divided Labour-Greens coalition spending money they don’t have would take us down a very different path. (Labour was fully funded the whole time they were in office last time, and grew the tax take. Prove Labour-Greens would be divided)
There are now just three months to go until the election on 20 September and we can’t take anything for granted. Only another strong, stable National Government can keep New Zealand moving in the right direction. (We have been moving in the wrong direction, the stats prove it. Labour/Greens need to get in, if NZ is to go ahead again)
Sincerely
Hon Bill English
PS. Help us tell New Zealand we’re on the right track. Click here to like or share this graphic on Facebook. (And if you do that, you are a fairly big mug for believing all this rubbish).
Sgt Pepper, you are not so one eyed as a couple on here and would love to hear what you have got. Let's hope its positive and factual, not more National did this crap. Talk about Labour and their future for NZ and if it is the good oil, I will congratulate you on your effort. Here is the thing though Sgt Pepper, you know and I know that is just not going to happen. BYW, I like your freestyle writing in your post not. It suits your smartphone, but not here.
Just for a bit of light relief, I see the Green Taliban are up in arms that N Smith is passing a bit of legislation to enable a fraction of the wind-throw native trees on the west coast to be lumbered for fine furniture, jobs for the coast, and about $100m of revenue, instead of letting them rot on the ground. Nick Smith said on the telly that there will still be 95% of the wind throw left to rot and feed all the wormies....
The comment by the Green spokeswoman (I think behind the beard was a woman) was tourists would be upset seeing chainsaws being flung about in our native forests.
FFS - get a life jerks
While the arguments here concern which party is more at fault over the Chinese businessman and his donations to either party, for me the fact that politicians on both sides appear to be happy to welcome wealthy Asian and other people into the country purely on the size of their bank balance and against the advice of immigration officials is the major concern.It is hard enough to make a miilion in NZ but in Asia it must be a lot more difficult. The fact that the busnessman in focus appears to be buying favours from politicians by donating large sums of money to either party and the parties are happy to accept them is not something I can be comfortable with NZ was once considered corruption free compared with the rest of the world. It appears to no longer be so.
westerly
It still is compared to a the rest of the world Westerly. This is an asian way of doing business in any country. Not just here.
Belg. Have a whisky or wine or whatever your poison is.You'll let small mined NZ politics (from both sides) kill you. Shouting down at the opposition has not worked for Labour to change peoples opinions and it wont work on here I'm guessing.
""What is most frustrating iceman, and a sad indictment of the NZ voting public, yourself included, is that you all lap up the media reports and planted spin as if it were fact and question nothing. You simply take it all as fact ... much like a teenage, schoolyard gossips. A shame.""
instead of pontificating on a website that deals in trading shares which is generally the realm of nat voters.......
why not get in your PAV (ponsonby assault vehicle) even though your a north shore boy...... and educate some of the tens of thousands of labour voters living in south auckland
they might actually listen to you and believe the words you say on top of your soapbox.
when i hear minto gasbagging in media ...... and reading your pontification on this forum...... I wonder who is more smarter?
at least minto gets his word out to those who agree with him,...... as a majority of folks who frequent this site wont be swayed by your 1000s of left wing comments.
10 plus years you have been spouting left wing anti right, anti america, anti god, and anti many other things........ yet live in the middle of gods owns richest suburbs,
with a supposed top 5% salary and investment strategy..........
im just a simple guy......... but you would be better off spending your time not on this site.......... 1000s of posts....... but going to the south auckland suburbs and educating the folks there about how bad the current government is.
that way..... you would earn respect as you put your foot where your mouth is......(or whatever that saying is...... positive saying)
having said all the above......
I respect you a hell of alot!!...... I know you can out talk me, out think me, and out speculate me......
you a richer than me, and probably have a better life than me........
but you seem to be lost somehow........
and some of the stuff you write....... or write about is truly worrying.
maybe you need to get in car and spend a week driving around to places that you normally wouldnt go to and see what
is happening in this land of ours.
My missus has...... over the 7 years that i have know her and fallen in love with..... ""encouraged" me to take drives around NZ and see NZ from a different point of view.
Which is why I dont vote from my pocket anymore...... (from a different post)
ps....
she earns $15 an hour and has a car in her own name...... thats it
yet she is rich way beyond me in so many way........
and I have a great career and a good size farm in south aucks.
yet it seems you have even more than that and still you come across to many readers as a lost....... or troubled soul.
I respect you belg...... but feel you need a reality check.
I hope you dont take offence...... yet it is a pointed statement at you.
The funny/ wierd/ strange ....... maybe good...... thing..... you have also helped me LOOK at things differently.
cheers
An extract from Team America World Police that could be termed apt:
"We are dicks, were reckless arrogant stupid dicks, and the liberal left are pussys. And the greens are just arseholes. Pussys don’t like dicks because pussys get fcuked by dicks but dicks also fcuk arseholes. Arseholes who just want to siht on everything. Pussys may think they can deal with arseholes their way but the only thing that can fcuk an arsehole is a dick with some balls. The problem with dicks is sometimes they fcuk too much or fcuk when it isn’t appropriate. And it takes a pussy to show him that. But sometimes pussys get so full of ****e they become arseholes themselves because pussys are only an inch and a half away from arseholes. I don’t know much in this crazy crazy world but I do know that if you don’t let us fcuk these arseholes we are going to have our dicks and pussys all covered in ****e."
**** = the word beginning with s that mean poo.
Through your rose tinted glasses EZ, Labour is 100% the truth and National is 100% propaganda. Why then is Labour polling so low and National so high. Are you saying Kiwis are mostly thick, because that's what you are implying. Kiwis are smart and that is the Key, those who are not so sharp at the pointy end ponder their next attack commonly known as propaganda. Who is D.Cs puppet master? The propaganda king himself - Matt McCarten FFS.:eek2:
Remember this: A secret memo on secret trusts I've posted it three times now and no response from any loonies. That's a propaganda king in action EZ, no need for that crap from National, they just stick to the proven - you know - results. Results, that's something Labour only dream about. Keep dreaming - keep dreaming.
team america puppet movie...... was on tv wendesday nite, missus bought me the movie on TM and was delivered today....... lots of laughs and will watch again tonite.
missus really liked the puppet sex scene...... hope to copy the moves tonite!!
""" no strings attached""
Yes, Labour and the Greens have released some terrific policies in the last few weeks. National would like voters to forget about those, because they don't have much insight to offer in return. Guffaw guffaw..they don't have to, according to them.
Have a look at this insight into dirty practices by National.
http://thedailyblog.co.nz/2014/06/20...snt-resigning/
Both eyes closed will not give you vision grasshopper (EZ). I was never going to read your link and you were never going to take my advice.
So it's me celebrating in three months and it's you coughing up 1K. I wonder who's right and who is wrong? I wonder if EZ will ever work that out. Old dogs - new tricks and all that, there is no fool like an old fool. If National ever ended up where Labour finds itself right now - I'd jump & that's the difference between you & me right now. Why don't you get angry at your team letting you down instead of going down with the ship and blaming others for your captain hitting the rocks?
Doesn't seem the best way to get the best people in your Parliamentary team
Rather like balancing the deck chairs on the Titanic to get the right gender / ethnicity balance
Why oh why did you just not declare this Labour....
http://www.nzherald.co.nz/nz/news/ar...ectid=11279089
Unlikely after the latest revelations by the "right wing foreign owned ba..ards" at the Herald.
Labour is unbelievably hypocritical. Obviously they sold this guy his residency granted by Damian O'Çonnor.
http://www.nzherald.co.nz/nz/news/ar...ectid=11279089
Labour..... Going - Going
Gone!!!:p
That's right FP. People who are interested in Politics, as we all are on this site, should recall that National achieved 26% in 2002 yet they survived and thrived. Labour will do the same. One would be extremely foolish to say we will never see a Social Democratic government in NZ again. Every day in power is a day closer to your demise, no one knows what form it will take. However the big risks for continual National Government are as follows
1. The loss of John Key
2 . Media turns against an incumbent government- a much underrated risk for any government in my opinion.
3.the TFAC factor Time For A Change
4.Economic cycle reverse.
5. Internal party friction
it's nice to be here in Brisbane, enjoying the weather - 25 deg - and the food and the ambience of a large city where everyone seems to be enjoying life - but - there is still the anti- govt. anger and guess what? -it over Chinese buying real estate that was not marketed to locals and several other points that might be nz news. However, this govt. appears unpopular to a degree that must make them seriously envious of John Key.
Nothing to do with that, it'll be about fewer jobs being available to Australians, after a change to more Neo-liberal policies. If they step further away from carefully targeted support for strategic jobs and capability, it'll get worse over time. The fact is that neoliberal policies have not worked better than social democratic policies in any of the countries it has been tried in, and NZ has first-hand experience of that. We were the subjects of the first experiment on an entire country, started in 1984.
Ray White surfers has just finished a property expo in Hong kong. Lots of interest apparently.
You are being a bit disingenuous there EZ. You know full well that NZ Labour has proposed policies to introduce CGT and restrictions on immigration. They have clearly tied these policies to property demand and residential property valuation inflation.
Australia is proof that both policies have failed to stem increases in house prices to any measurable degree !
But how can you be sure that if these measures like CGT were not in place, that it would be the same? I argue it would be worse. Labour's homebuild policy will do a lot more for the economy, and provide a lot of lower priced houses where they are needed.
Meanwhile it's tough in the provinces, some of them anyway. Just started reading "Inequality, A New Zealand Crisis".
More waking up to a fragile manufacturing sector.
http://www.stuff.co.nz/business/farm...export-baskets
Meanwhile - Statistics NZ said on Thursday that New Zealand's gross domestic product grew by 1 per cent over the March quarter and by 3.3 per cent over the March year.
"New Zealand is still rocking. More here. Real stats not Labour Bloggers theories or excuses.
That happens by good management, not luck. Thank Goodness for National.:)
Iceman
Interested in your observation that we have in effect a Social Democrat government now. Now of course JK would retort that he is just being pragmatic, as, the argument goes, a number of policies which are expensive are in effect embedded and that politicians tamper with them at their peril. Notwithstanding this it raises some potentially difficult issues for the government.
Will we see more assertive push back from influential National Party members who may not be happy with having a default Social Democratic government, especially if they perceive this third term is their only chance to roll back some of the large expensive policies, i.e WFF, 20 hours Free early child care, extensions to paid parental leave. etc etc. Will they find it more difficult to raise funds from previously generous benefactors who may want to see much more of their policy implemented for their support than just "National in power and keeping Labour out". I could be wrong, but I see some serious behind the scenes difficulties arising trying to reconcile John Keys " pragmatism" (i.e. I do whatever it takes and spend whatever it takes to stay in power and cement my legacy). All fine when an economy is expanding and government revenues increasing but when the current economic expansion stagnates and then reverses, as all cycles do, the gloves will come off and they may find that many of Nationals influential supporters with deep pockets may all of a sudden have short arms.
I doubt it. They haven't reacted in the last six years.
A bit of background about the IPSOS polls. Labour needs to show voters that they are a real option. Labour campaigners know that already.
http://www.thepoliticalscientist.org...fairfax-polls/
Iceman, last I heard there is no proof of a donation to Labour by Liu anywhere near that size. On the day Mr Liu mentions, no fundraising was carried out. Surely if $100k was paid over for one bottle of wine, there would have been some memory of the event. Entire fundraisers for Labour don't raise that kind of money. It wasn't a National party event, after all.
But here's the cunning plan. Real or not, here we are blogging about it. Crosby-Textor and National are flinging mud to see if any of it sticks. That's all, but it's a dirty trick.
The first part of your post is no doubt accurate. I think Liu is away with the fairies but your last paragraph is also way off beam. Labour has been stirring for months and really brought this on themselves. Mallard in particular has been quite despicable on occasions.
Very true FP.
But I do also note that a Herald Editorial says they have seen a signed affidavit from Mr Liu.
EZ, before you write this whole saga off, lets wait for this thing to play out. It is very clear that Labour has got lots of dirty laundry that is yet to be aired !
Sad it has come to this but like FP correctly points out, Labour brought this on themselves when they started talking about corruption !
FP and Iceman, yes I'm happy to wait and see what happens. It could turn in Labour's favour of course.
Google runs a highly profitable business here in NZ. With revenue ramping up, they've conspired to offshore most of the income through fees, and end up paying under $300,000 of tax here. Legal under the current system, but Labour would work on that.
http://www.nbr.co.nz/article/google-...land-md-158111
On our rock-star economy, Liam Dann.
Yes EZ it is a really difficult and unfair issue this multinational tax avoidance. It is not something that NZ will sort out on their own, whether Governed by Labour or National. It will take a concerted international effort lead by the big boys, if there is going to be any chance of making this fairer. I hope some sort of solution will be found.
Do you think National, the IRD as well as many other counties are ignoring this? It is a problem for many countries and it is not easy to find a solution. Labour, with their deadbeat finance spokesperson, a failed businessman with a bad reputation and a pile of enemies, will not solve this in spite of all the piss and wind they produce.
Like you and other posters, we are all basing all comments about this matter on what we read and hear. A signed or sworn affidavit is a serious document in my books and in a powerful political situation like this one, I have to assume such a document is based on facts, until proven otherwise. We will just have to wait and see how this distraction plays out. One thing is for sure, there will be no winners.
They might be winding you up Belg. As a small business owner for many years with an extremely competent chartered accountant, I can assure you there is no legal way of either "gaming or milking" the system. I'm sure that there are illegal ways but any individual or entity trying to do this runs huge risks and 99.9% of accountants will actively discourage any activities in this vein. Do some small business try? Probably but not many and I would guess that the vast amount of taxpayer fraud is from individuals operating in the "black economy" and people double dipping with unpaid work and welfare fraud. The fact that small business are generally complex and require an accountant to do the taxes means that a vast majority will toe the IRD line because the accountant is keeping an eye on problem areas. As a small business owner, with your livelihood and your business viability and the responsibility of keeping people employed on the line....a vast majority of small business will be oriented to doing the right thing. The IRD has the resources to extract the biggest bang for the buck so you can bet that if "small business" fraud or "milking" was an issue, then they would deal to it. I'm afraid its just an other urban myth. I would ask your two sources to point out in detail where this milking is occurring. Legal deductions that are a cost of doing business obviously cannot be defined as a rort since they have passed the acid test of political (multi party) scrutiny
Accountants do not work like that. Your imagination is running wild. However no doubt some self employed use their vehicles for a bit of private use. No doubt some salary and wage earners use work vehicles for unauthorised purposes, do various private errands while doing other jobs with the vehicle, pinch stationery from the office, make private phone calls on the business phone, photocopy things at work without telling the IRD. All such things deprive the IRD as well as the boss so it's doubly bad. Probably the biggest tax dodgers are the one-man-band tradesmen and home service men who do the odd-job and do not declare it. This apparently is often at the instigation of the client. The IRD have the odd drive on this but the only way to stop it is to do away with taxing income (or substantially reduce it) and have a higher consumption tax like GST.
This is referred to as "generalizing from the particular" belg. Making broad sweeping statements from a few scraps. Akin to saying all rugby players are boofheads just because there are a few idiots. There will always be a few debateable or just wrong claims. You have to remember that most normal owners wont run the risk of a possible audit for the sake of a couple of hundred dollars saved. Audits are costly, stressful and incredibly time consuming. Again if this was a major issue The IRD would be all over it.....they don't..so guess what ..it isn't. As far as finding a "tame" accountant...I have more respect for that profession than you obviously. Also accountants will value their good name/reputation with the IRD and would just be stupid to endanger that for the sake of pacifying a customer. Your major point seems to be one of envy....i.e. salary and wage earners don't have the luxury of claiming similar deductions that business owners can. Back to my main point which is the IRD over a long period of time and countless political tinkering and law changing has decided that this is the way it is. I suggest that if you feel hard done by you could start your own business, employ some staff and "see how the other half lives". The perceived greener grass that you are suggesting small business is greedily consuming is just a figment of your imagination.
Belg don't throw the toys out of the cot.....what assertions have I made about you? Simply responding to your comments which you started off by saying that business owners were selfish, scurrilous and ripping the system off. Keep on subject please and don't divert from the issue by introducing non relative bits. I would be crushed if you give me negative rep by the way:( :). Anyway this small business BS seems to have taken away from the politics so I don't want to hijack the thread. I still love you even when you get hyped.
""The mud stuck.
I was lunching with about 20 imaginary people yesterday and they, without exception, believed what I read to them by the shills in the NZ Herald's Political section.
I had to point them at the Business section where Fran O'Sullivan sets the record straight, chastising the NZ Herald shills at the same time.
Fran O'Sullivan: Unfounded resignation calls should be far from Cunliffe's mind
The howls of outrage I heard in my head were pretty vociferous and the NZ Herald lost no readers and the National party have lost All my swing votes. The phase "not in NZ" was mentioned quite a few times. quite a few times.quite a few times.quite a few times.quite a few times.......
sorry that was mean..... but it is the way I read it.
I think belg you need to read the last several weeks of posts you have written and think about what it is your writing and who you are directing to or at.
there is a link on the herald about stress..... you need to de stress and spend less time on the computer..... therefore we can once again read your posts without cringing, which is what is happening now........ you are and have been a valued and prolific poster for many years..... but it seems the value of your posts is diminishing while the prolification is increasing.
cheers
The mud shouldn't stick, if it's make-believe.
http://www.nzherald.co.nz/nz/news/ar...ectid=11279513
Back to real policy.
Quote:
Labour will:
• back Kiwi businesses by ensuring that government agencies buy more Kiwi-made products, keeping thousands of jobs in New Zealand;
• support hi-tech manufacturing through accelerated depreciation;
• strengthen innovation, including through research and development tax credits;
• reform monetary policy to achieve a fairer and more stable exchange rate to give manufacturers a chance in international markets;
• change the tax settings to direct more capital investment into the productive economy, rather than speculation in housing;
• introduce measures to increase the national savings pool and improve access to capital for businesses;
• contain or reduce structural costs to businesses, starting with electricity prices;
• promote growth in specific sectors through Labour’s Economic Upgrade policies, including timber processing;
• work to lower unnecessary compliance costs for businesses where consistent with workers’ rights, environmental standards, and quality assurance;
• give manufacturers a stronger voice in trade negotiations;
• recognise manufacturing’s role in creating jobs and adding value in national, regional, and industry development policies.
• A healthy, growing export manufacturing sector is vital to building a wealthy New Zealand and creating well-paying jobs for our people.
When the current government came to power, manufacturing was New Zealand’s largest employer. Now, it’s the third. Since mid-2008, 42,000 manufacturing jobs have been lost.
Six years later, there is no sign of a recovery in manufacturing employment – factories are still closing. There are 1,700 fewer manufacturing companies than in 2008.
Since mid-2008, annual manufactured exports have fallen by $2.6 billion, or 19%, after inflation.
We’re exporting more of our raw commodities overseas, rather than manufacturing them into value-added products here in New Zealand.
Manufacturing is the only major sector of the economy that hasn’t yet recovered to its pre-recession level of output.
The regions that have been hardest hit by the decline in manufacturing since 2008 are also the ones with the lowest rates of growth.
The Government’s lack of attention to export manufacturing is holding New Zealand back and denying Kiwis jobs.
The Parliamentary Inquiry into Manufacturing
revealed the causes of these serious problems:
• An over-valued currency, contributed to by out-dated, ideologically-driven monetary policy,
• Tax policy settings that favour investing in property speculation rather than the productive economy,
• Government policy that is at best indifferent and, at worst, hostile to manufacturing,
• Ministers and officials who refuse to acknowledge there’s a problem.
Tackling these issues and getting manufacturing growing again will mean higher export receipts, a smaller current account deficit, less international debt, more jobs, and higher wages for New Zealanders.
Labour are bringing out new policy on the issue today. Why not confront it head on?
http://www.nzherald.co.nz/business/n...ectid=11280992
Not at all. I don't think they'll get in anyway, and it won't matter to me if they do, although I would feel sorry about the damage to the country. The next govt. will be National with NZ First. A few baubles in Winston first's direction and hey-presto, one new govt. which at least will be better than Cunliffe and crowd.
P.S. Still waiting for this amazing plan to scuttle international companies who choose to pay tax where it is most favourable to do so, but all we've heard so far is some short sighted plan to raise income tax on rich pricks.
Apparently anyone earning over 150k is a rich prick who should be punished. The Civilian party have a better proposal than that!
FP, the handbrake is on right now. If we weren't exporting desiccated cow's milk and pine logs at higher prices than normal, we'd be in big trouble.
CGT should pull back house prices a bit, or at least slow the rate of increase. The Kiwibuild program will have a lot more of an effect in Auckland.
Is this the item you were offended by?
http://www.nbr.co.nz/article/labour-...earners-158236
See comments at the end of this National-friendly article. I think the top tax rate will only apply to earnings above $150,000 for each person. 36% sounds fair. And the tax rate for trusts is to be moved up under Labour, also fair. If the top 2% of income earners pay say 22% of all tax (and we'd need to check they don't mean just income tax) then surely they also have over 22% of the wealth too.
Mr Liu has gone quiet over the imaginary $100k wine issue, as has Mr Key.
No he hasn't read this: Liu: $100k not just for wine That explains that then. What the article does not explain is Rick Barker's & David Cunliffe's memory lapse.
The Herald last week revealed Cunliffe wrote a letter for Liu's residency application, despite Cunliffe's previous denials, and also Mr Barker's dinner with Liu on the Yangtze River after Rick Barker said he hardly knew the guy. Does Labour breed pinocchios or something?
I wasn't aware that I was offended by anything, but if I am it is your blinkered view that everything Labour does or says is fine, but everything National says or does is wrong. Neither party has a monopoly on good ideas, or bad. Your posts are never objective. Look at policies - not parties. I bet you continued to vote Labour through the eighties when they introduced market policies, because 'it was Labour, therefore good'. It is interesting to see current Labour appear to have learnt that the only advantage of high income tax is to appease the jealous, hence dropping to 36% rather than the previously proposed 39%. That's still a backward step, but not as damaging to the economy.
If you think CGT will lower house prices have a look at Rowling's spec tax. and what it did to prices. I've always been grateful to Rowling - a complete fool who gave me a wonderful start in the commercial world. However I am not against CGT provided it is properly designed. The devil will be in the detail.
And yes, as I have said before, Liu is a complete ****er.
All this will do is get people to do a bit more structure, though it will be hard to get around tax avoidance arguments.
I hope you have all been sensible like me and have set up your investments in a company. My prediction is that for the rest of my lifetime, the company tax rate will be significantly less that the top marginal tax rate.
Snow White, Superman and Pinocchio were walking together along the road when
they came across a beauty contest.
"I think that I will enter this" says
Snow White
Sometime later she comes back looking very pleased with
herself and proudly announced that she had won first prize.
The three
companions then continue on their way and sometime later come across a strongest
man competition.
"I'll have a crack at this says superman".
Sometime later superman reappears and without trying to appear to full
of himself tells his friends that he too has won his competition.
The
three then continue on there way and eventually come across a worlds biggest
liar competition.
"This one's for me" says Pinocchio and off he
goes.
Sometime later a clearly disconsolate Pinocchio re emerges and
somewhat plaintively asks his friends
"Who the hell is David Cunliffe?"
The reality is that Chinese who are wealthy businessmen gained their position by a methodology that is totally foreign to most Judeo-Christian Europeans. We were constantly being told that to do business with the Chinese we must understand the Chinese and their methods and act accordingly. I have no doubt that many to the Left and to the Right play this game in varying degrees. Years ago ( late fifties) when I worked on liners, The wisest passengers, first class, Tipped their steward at their very first contact and received top service in return. " you scratch my back and I'll scratch yours" was started by the higher apes who still follow the practice. Trying to use it as a political weapon is pillow fighting.
That's probably right. PIEs are good for those like me who can't be bothered with companies. I reckon National will announce a tax free threshold soon. I hope they do, cos I can hardly wait for EZ and Belgarion to tell us what is wrong with that as a policy.
The trouble with a tax free threshold is it would probably mean having to get everyone to complete a tax return each year. They are continually down sizing the IRD at present.
The system currently handles multiple rates so a 0 rate shouldn't be a major issue. The real issue is that you think it benefits low income earners but they pay no net income tax due to WFF etc.
If/When National does announce tax cuts, I expect it to me minor drops across the board and/or increasing the threasholds (eg. Reduce bottom rate to 10% and increase the range it applies to, no change to 33% rate but up the threshold from $70k to $80 or $90k.)
He sai they'd look at it if the books remained good.
If the sun stopped shining we'd be in trouble. If Australia attacked us, we'd be in trouble. If nobody ever died we'd be in trouble. If swine flu, sars, bird-flu or mad-cow disease broke out in a big way we'd be in trouble. If the millennium bug really hit us in 2100 we'd be in trouble. If tourism, trade, and a million other things stopped all at once we'd be in trouble. Not things sensible people worry about though.
"Silly" tax proposals - they sound fair to me, I aspire to paying some at the top rate most years. Company tax being lower is a bit of a side issue, as when the money is taken out privately, it has to be topped up taxwise, to the appropriate amount. Good on you for noting, Harvey Specter, about net income tax for the lower paid being low. Total tax paid, that's a different matter.
I see even John Key has thought about quitting. He's certainly aged while he's been in office, but so have we all. Will we look back on his tenure and say how benevolent he's been, how many world-leading and great policies he's helped put in place for NZ? Or will we simply remember a government that hung in there grimly through the aftermath of the GFC and ChCh earthquakes, and borrowed like mad to cover their ineptitude?
Here's your chance, National Party voters, to bask in the glory of your leader, by purchasing his new biography. Carefully timed to affect the election, but as this Trademe listing shows, not all of us believe everything we read about the National Party and its MPs. Great questions on this listing.
http://www.trademe.co.nz/Browse/List...x?id=746833501
The CGT policy from Labour is becoming more popular, especially in Auckland.
http://www.nzherald.co.nz/markets/ne...ectid=11282563
And then we have anonymous editorials from people like this person, who will be in the top 2%, and so, directly affected by the top tax rate, writing an opinion piece in the Herald. It pushes all the buttons for the right-leaning readers, and seeks to persuade swinging voters.
http://www.nzherald.co.nz/nz/news/ar...ectid=11281696
One particularly good comment after this right-wing editorial..
Quote:
Another day, another anti-Labour Herald editorial.
Normal lower-to-middle working class people have borne the brunt of the global financial crisis, and continue to do so regardless of how many commentators mouth off about this 'rockstar economy' of ours, which was primarily set in motion by speculators, finance companies, banks, and captured regulators.
There are over 200,000 children in endless, circular poverty here, we have record levels of debt, currently around $70bn, welfare has been cut to the bone and will probably get cut further, jobs are increasingly being automated, water, air and land environments are being abused by people who can make a healthy profit doing so, GST has been raised (after JK promised he wouldn't) which disproportionately impacts the poor, various infrastructure and resource extraction projects have not created even half the jobs they were promised to, asset sales have helped drive up the price of electricity, inequality at record levels... I could go on and on.
Bottom line: the rich need to be taxed more heavily, for redistribution/social justice, and paying down this record debt. Not a huge amount more, just a little can make the difference.
j-mcdonald - 08:43 AM Thursday, 26 Jun 2014
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Their total tax is still very low. If you consider that they receive more 'tax credits' than they pay in tax, GST is therefore the only major tax they pay (I wont count vice taxes like alcohol and tabacco, though you could argue fuel tax should be included too). So even if they spend their entire income, their 'tax rate is still only a max of 15%, less the tax credits they get on their income. Now as the media keeps telling us, they spend all their money on rent (GST exempt) and have no money for food of clothing, that means they aren't paying any tax at all. So while I qualified my statement with 'income tax' as that is the easy one to prove, the statement probably still stands for all taxes.
I dont see why the left compain about Nationals borrowing, when Labour would have done exactly the same. Sure the is the 'tax cuts' (which theoretically were meant to be revenue neutral but I dont think they were) and Labour would have increased taxes (what would more tax have done to the economy?).
I personally think people dont understand how this will impact houseprices. Yes CGT will reduce the increase in house prices but only because it will have an effect on economic growth, and hence wage growth. The 'family' home is still exempt which is over 60% of the housing stock and most investors are in for the long term so they dont sell anyway. The quick flick guys are meant to be tax now (but probably file false returns) so they will probably try to claim the lower 15% going forward compared to the 33% they are meant to now.
Note: I would be in favour of a CGT if it had no exemptions, though I would argue for roll over relief (carry forward you gain untaxed into your next house). I am not entirely convinced the admin costs warrant it and the extra tax will just be wasted on the lefts follies, when it should really be a revenue neutral change with tax rates (at the lower end?) fallling as the capital gains tax take starts to roll in.