Nat/act/nzf 2023

[Daytr]

seems at odds with other business assets - that stance

Business premises with land - when sold at end of the business - GST zero rated, some depreciation recovery is assessable on buildings etc if claimed, but no capital gains tax

Some appear to have curious & perhaps convenient view of 'capital gain' etc with little background knowledge of what the usual course on such things has been for decades & decades .. strangely some views become muffled when it comes to certain other assets like their own Kiwisaver gains, the beach property or car or bottle collection & gains on them

For businesses I understand it's only the chattels or fittings that are depreciated. Happy to be corrected.

GST zero rating is not relevant.

I buy a car, it quickly gets depreciated to zero over 5 years, but then I sell it for $20k, that $20k is taxable. If it was a collectable car & it appreciated in value I would pay tax on the capital gain.

You really need to get rid of those stupid emojis.

[Daytr]

Who would have thought ACT, the extreme party of the coalition that's all about the ME rather than the WE had such an atrocious culture and Covid nutbars.
Seems they are up with the Greens in regards party culture.
I suppose at least ACT don't pretend to care.

https://www.stuff.co.nz/politics/350...mpaign-sources

[Bjauck]

In nominal terms only, they will have increased - but in real terms they will be worth a fraction of their replacement cost, i.e. they have depreciated.

NZ’s systemic inflation benefits the taxman. The NZ tax system is only interested in nominal returns. Housing shouldn’t be an exception. Anyway with building depreciation it is just a question of timing, if buildings are over depreciated, the depreciation can be clawed back on sale, if the price realised is more than the depreciated value.

In the absence of a CGT, I think the same should happen to mortgage interest, if it is allowed as a tax deduction. And If the sale price is greater than purchase price, then the interest deducted for tax purposes should start to be clawed back.

[blackcap]

Who would have thought ACT, the extreme party of the coalition that's all about the ME rather than the WE had such an atrocious culture and Covid nutbars.
Seems they are up with the Greens in regards party culture.
I suppose at least ACT don't pretend to care.

https://www.stuff.co.nz/politics/350...mpaign-sources

It's Tova. Grain of salt time.

Not that I am defending Act, but Tova is rather rabid and biased.

[Daytr]

It's Tova. Grain of salt time.

Not that I am defending Act, but Tova is rather rabid and biased.

I don't think she is making up the sources or quotes from the people that worked / volunteered for ACT.

[iceman]

I don't think she is making up the sources or quotes from the people that worked / volunteered for ACT.

Interesting article. But when I read it I don't see anything other than some grumbling from people that didn't get their way during the election campaign. I would say that will apply to all the parties. I imagine many Labour supporters will be unhappy about certain aspects of their terrible campaign. I'd say little to see here.

[nztx]

For businesses I understand it's only the chattels or fittings that are depreciated. Happy to be corrected.

GST zero rating is not relevant.

I buy a car, it quickly gets depreciated to zero over 5 years, but then I sell it for $20k, that $20k is taxable. If it was a collectable car & it appreciated in value I would pay tax on the capital gain.

You really need to get rid of those stupid emojis.

Okay .. thanks for another view & the explanation ... I think I'll stick with the current beancounter

[winner69]

Luxon cuts back on post Cabinet press conferences

Gets responses like this

@biggsibtweets
extraordinary admission of defeat by his handlers, can’t polish this bald ceo turd anymore; run and hide strategy. Clock is obviously ticking

I tend to agree …Luxon not a leader and pretty useless and this govt well enough said

[jonu]

Luxon cuts back on post Cabinet press conferences

Gets responses like this

@biggsibtweets
extraordinary admission of defeat by his handlers, can’t polish this bald ceo turd anymore; run and hide strategy. Clock is obviously ticking

I tend to agree …Luxon not a leader and pretty useless and this govt well enough said

I wasn't surprised by this. I figure after the Ardern/Hipkins all talk and no deliver nonsense we suffered for 6 years that Luxon would rather deljver than be constantly peppered with headline seeking questions that don't generally further the debate or policy. Why let the media set the political agenda?

Luxon's not responsible for the number of largely useless political journos/analysts who need daily headlines. Let the journos do some real work a la Andrea Vance, rather than sitting in the beehive theatrette squabbling over the top of each other for crumbs from the podium of truth.

[Panda-NZ-]

Luxon cuts back on post Cabinet press conferences


I tend to agree …Luxon not a leader and pretty useless and this govt well enough said

All his interviews are like 10 minutes long and pretty much nothing is said.