Nat/act/nzf 2023

[Balance]

In the meantime, isn’t it wonderful to know and see young NZers with skills, ambition, drive and options move to Australia so that their families and they can have a great future, away from the divisive & ever impoverished society & country Aotearoa has become?

Police personnel, nurses, doctors, professionals and NZ’s youth - move to Australia. Don’t waste your lives in Aotearoa pushing shxt up hill. The entitled parasites, losers and beneficiaries in their hundreds of thousands are not worth your time and energy.

Even Chris Luxon’s daughter is in Australia pursuing her career and future - what does that tell you?

https://www.stuff.co.nz/nz-news/3502...o-moved-aussie

“It’s as simple as this – I can’t make ends meet here. I’ve been in the police force for nine years, and I’m essentially being paid the same as I will at the end of my first year in Australia."

Swanepoel has a simple message for those considering following his lead: “Do it”.

“If it’s right for you and your family, do it. It’s infinitely better. Life is brilliant."

[Bjauck]

Well it's the nature of forums that people will disagree.

I don't think people relying on fixed interest as income would be impacted much at all, as $180k in interest or dividends is pretty substantial.

It would though take income from high income earners who are the biggest spenders & give it back to them in times of recession etc.
Currently we just suck out billions of dollars from indebted Kiwis & that money paid away doesn't beneft anyone. Whereas at least this money would be paid in tax that would benefit all Kiwis.

But as I said it's not a cure-all and yes a CGT should be introduced, no argument, I am more arguing for a better & fairer way to control inflation.

As incomes increase, doesn’t the percentage saved increase too? NZ’s issue is to encourage those savings to be invested in business and shares rather than land.

Sure in high interest environments, those who benefit are different from those in low interest times. At least the gains earned by investors with high interest income is actually taxed. However in low interest environments the gains earned by indebted households by way of capital gains on housing is untaxed.

The main issue is the fact that many households become over-indebted just to be able to afford NZ’s overly expensive housing. In low interest rate times, their wealth is leveraged skywards - tax free. However in high interest times they face income crunching mortgage interest payments and the spectre of negative equity in their homes. Meanwhile term deposits and other fixed interest investments are over-taxed both in high and low interest rate environments! And all through this NZ has a low productivity economy, which trains for other countries its talented young people, who priced out of home ownership in NZ.

It is good when disagreements can lead to constructive discussion. Is part of your proposal, to make interest payments to investors tax-free in low interest times as a quid pro quo for your extra tax in high interest earning times?

[Daytr]

As incomes increase, doesn’t the percentage saved increase too? NZ’s issue is to encourage those savings to be invested in business and shares rather than land.

Sure in high interest environments, those who benefit are different from those in low interest times. At least the gains earned by investors with high interest income is actually taxed. However in low interest environments the gains earned by indebted households by way of capital gains on housing is untaxed.

The main issue is the fact that many households become over-indebted just to be able to afford NZ’s overly expensive housing. In low interest rate times, their wealth is leveraged skywards - tax free. However in high interest times they face income crunching mortgage interest payments and the spectre of negative equity in their homes. Meanwhile term deposits and other fixed interest investments are over-taxed both in high and low interest rate environments! And all through this NZ has a low productivity economy, which trains for other countries its talented young people, who priced out of home ownership in NZ.

It is good when disagreements can lead to constructive discussion. Is part of your proposal, to make interest payments to investors tax-free in low interest times as a quid pro quo for your extra tax in high interest earning times?

The point you appear to be missing is to tame inflation more quickly and more fairly.
The cost of high interest rates on the economy and those paying the interest is huge and is drawn out because it takes years for the full impact to roll through the fixed term mortgage book.

By having a floating top tax rate and yes up or down, the impact would be much quicker.
If the economy was sluggish and inflation was in check, yes the top tax rate would be lowered to encourage more spending etc.

The reason NZ has a fixation with property is as you say, because of the lack of a CGT. I'm not suggesting one without the other.

Productivity issues however are a little more complicated than just the deficincies of the tax system

[Daytr]

In the meantime, isn’t it wonderful to know and see young NZers with skills, ambition, drive and options move to Australia so that their families and they can have a great future, away from the divisive & ever impoverished society & country Aotearoa has become?

Police personnel, nurses, doctors, professionals and NZ’s youth - move to Australia. Don’t waste your lives in Aotearoa pushing shxt up hill. The entitled parasites, losers and beneficiaries in their hundreds of thousands are not worth your time and energy.

Even Chris Luxon’s daughter is in Australia pursuing her career and future - what does that tell you?

https://www.stuff.co.nz/nz-news/3502...o-moved-aussie

“It’s as simple as this – I can’t make ends meet here. I’ve been in the police force for nine years, and I’m essentially being paid the same as I will at the end of my first year in Australia."

Swanepoel has a simple message for those considering following his lead: “Do it”.

“If it’s right for you and your family, do it. It’s infinitely better. Life is brilliant."

Well it tells me that she doesn't trust Daddy will do the right thing.

[Bjauck]

The point you appear to be missing is to tame inflation more quickly and more fairly.
The cost of high interest rates on the economy and those paying the interest is huge and is drawn out because it takes years for the full impact to roll through the fixed term mortgage book.

By having a floating top tax rate and yes up or down, the impact would be much quicker.
If the economy was sluggish and inflation was in check, yes the top tax rate would be lowered to encourage more spending etc.

The reason NZ has a fixation with property is as you say, because of the lack of a CGT. I'm not suggesting one without the other.

Productivity issues however are a little more complicated than just the deficincies of the tax system

As I Have explained previously, I think your variable windfall income tax would increase tax unfairness.

Also I am not sure how extra tax on interest “windfall” boosted income would help tame inflation. Two main factors causing inflation in NZ tend to be supply constraints and labour force constraints.

I suspect any extra tax raised would be used either for public works or to reduce tax elsewhere. Extra money for lower income earners would be spent on consumables and would boost CPI inflation, whereas extra money for higher income earners would tend to go more towards investments - not part of the basket of items whereby we measure inflation in NZ.

Productivity issues have several causes. I think tax system issues are an important factor. However electorally dangerous for the party in power to fix!

[Balance]

Well it tells me that she doesn't trust Daddy will do the right thing.

And I agree with her that her dad can do whatever he likes but Aotearoa is too far gone down the gurgle to be salvaged. All he can do is slow down the decline.

Why would she (or anyone with sense and options) live in this racially and socially divided retarding country which specialises in breeding ever more parasites, losers and beneficiaries?

[Daytr]

And I agree with her that her dad can do whatever he likes but Aotearoa is too far gone down the gurgle to be salvaged. All he can do is slow down the decline.

Why would she (or anyone with sense and options) live in this racially and socially divided retarding country which specialises in breeding ever more parasites, losers and beneficiaries?

So you keep saying which is getting rather tedious.
Where I live, I have a great life as many do just enjoying NZs beautiful natural playground.

Stop whining. No one like a whinger.
Perhaps you will also fit into Australia rather well.

[Panda-NZ-]

Taxes on cash interest is pretty brutal.. this is coming from a social democrat influenced poster.

Earn $70,001 and sorry it's a flat 28-33% tax on all of your term deposits (so is worse than paye).

I suppose it does encourage more active investments.

[Balance]

So you keep saying which is getting rather tedious.
Where I live, I have a great life as many do just enjoying NZs beautiful natural playground.

Stop whining. No one like a whinger.
Perhaps you will also fit into Australia rather well.

You sound like the proverbial frog in the pot - water is getting warmer as the heat increases from the fire and you are feeling just great!

If telling the truth is whining, then you must have the 'Ignorance is bliss' mindset then!

A policeman's tale after migrating to Australia:

“It’s as simple as this – I can’t make ends meet here. I’ve been in the police force for nine years, and I’m essentially being paid the same as I will at the end of my first year in Australia."

Swanepoel has a simple message for those considering following his lead: “Do it”.

“If it’s right for you and your family, do it. It’s infinitely better. Life is brilliant."

[Daytr]

Taxes on cash interest is pretty brutal.. this is coming from a social democrat influenced poster.

Earn $70,001 and sorry it's a flat 28-33% tax on all of your term deposits (so is worse than paye).

I suppose it does encourage more active investments.

Isn't it the same as any income tax?