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16-03-2017, 12:34 PM
#11881
Originally Posted by fungus pudding
Capital gains taxes are complex. One biggie is whether private homes should be exempt. But the bigger one in my view is whether an item can be sold exempt as long as the funds are repatriated in a like for like item within a specified time frame, as is the case in USA. That makes it fair and workable in my view.
Can't see a CGT on the horizon (other than the bright line test), especially as NZ is now producing fiscal surpluses. Neither National or Labour are proposing it anyway. Though Labour will increase the bright line test to 5 years.
Even in the Labour CGT policy, now defunct, many assets were excluded leaving lots of wiggle room to spend up large, or invest in highly productive assets like art, jewellery, flash kitchens, classic cars, boats. Rather than non productive assets like farms, shares, businesses and commercial or rental property.
(Well. you'd think they were non productive, since so many seem to want a punitive approach.)
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16-03-2017, 01:02 PM
#11882
Originally Posted by fungus pudding
Capital gains taxes are complex. One biggie is whether private homes should be exempt. But the bigger one in my view is whether an item can be sold exempt as long as the funds are repatriated in a like for like item within a specified time frame, as is the case in USA. That makes it fair and workable in my view.
It is tricky with capital gains as you would want to encourage the reinvestment of asset proceeds into productive assets. However it tends to be the wealthier who benefit from capital gains, whilst the poorer are more dependent on fixed interest and/or other taxable income.
So even with a tax-free threshold but excluding capital gains, a flat tax plus GST, may mean that the tax system becomes regressive with the wealthier ending up paying a smaller percentage of their income in taxes than poorer people who spend larger proportion of their after-tax income on items subject to a further 15% GST.
GST - a regressive tax
http://theconversation.com/factcheck...come-tax-45052
Last edited by Bjauck; 16-03-2017 at 01:14 PM.
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16-03-2017, 07:53 PM
#11883
Originally Posted by RGR367
Okay eZ, here's your chance. What will stop inequality or even diminish it from your Labour's Party perspective? As I said, I'm still with those uncommitted voters right now so kindly enlighten me/us. Thank you in advance.
RGR367, I hope I can help. The Labour Party policy platform is a good place to start.
https://d3n8a8pro7vhmx.cloudfront.ne...pdf?1459459622
That's a lot to read, and I've decided I need to do that as well.
Look at these latest polices that have been announced, they are all about equality for everyone.
http://www.labour.org.nz/announced_policies
An older one that I'm keen on, is the 2014 R&D tax credit policy, reimbursing SMEs and upwards for 11-15% of their R&D costs each year. This was audited, but one of the tests for such part-grants was, is it being protected with a patent or trademark? It boosted applications in that year by a noticeable amount, even though only 300 businesses in NZ applied for the grants. It was a small carrot to get NZ businesses moving in the right direction, smarter exports. National cancelled this policy within days of getting into office, and used the saved funds towards tax cuts at the top end.
Think about KiwiBuild, the jobs and training that will create - the smart use of recycled funds that a govt can access at low interest rates. And then the govt will reap the extra taxes for the added industry, and can recycle more. Three years of post-secondary training for everyone. The ability to exchange that for cash to start a business, with mentoring. That's brilliant, and it will solve the housing crisis, as long as immigration is also brought under control.
Labour has had nine years to think about the future of work, they have formed some great policies. Now it's up to thinking voters like you to let them bring those into action, with environmental guidance from the Greens of course.
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16-03-2017, 08:32 PM
#11884
Originally Posted by elZorro
RGR367, I hope I can help. The Labour Party policy platform is a good place to start.
https://d3n8a8pro7vhmx.cloudfront.ne...pdf?1459459622
That's a lot to read, and I've decided I need to do that as well.
Look at these latest polices that have been announced, they are all about equality for everyone.
http://www.labour.org.nz/announced_policies
An older one that I'm keen on, is the 2014 R&D tax credit policy, reimbursing SMEs and upwards for 11-15% of their R&D costs each year. This was audited, but one of the tests for such part-grants was, is it being protected with a patent or trademark? It boosted applications in that year by a noticeable amount........
You sure you don't mean a noticeable number eZ? I think perhaps your state-run school education is showing there.
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16-03-2017, 09:07 PM
#11885
Originally Posted by fungus pudding
You sure you don't mean a noticeable number eZ? I think perhaps your state-run school education is showing there.
Surely a common mistake, FP. Like thinking that a flat tax would convert all the high-rollers away from their tax havens. Ask John, see if it would make any difference.
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17-03-2017, 12:17 AM
#11886
Originally Posted by elZorro
Surely a common mistake, FP. Like thinking that a flat tax would convert all the high-rollers away from their tax havens. Ask John, see if it would make any difference.
A common mistake in a country which would benefit from better education systems. It's sad they don't teach English grammar in state schools any longer. I recently sat in with a group of university students on one of their tutorials. there was only one of eight who knew what a verb, adjective, noun etc were. They had never been taught. I'll bet none of them would have known the difference between an amount and a number either.
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17-03-2017, 07:25 AM
#11887
Originally Posted by fungus pudding
A common mistake in a country which would benefit from better education systems. It's sad they don't teach English grammar in state schools any longer. I recently sat in with a group of university students on one of their tutorials. there was only one of eight who knew what a verb, adjective, noun etc were. They had never been taught. I'll bet none of them would have known the difference between an amount and a number either.
Like knowing when to use fewer and less. I saw Eddie Maguire's show the other day - Australian English gramma standards don't seem to be much better. Only shows that now is not to the time to have lass tax and fewer taxes. Increase the funding for education and health!
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17-03-2017, 08:00 AM
#11888
Originally Posted by fungus pudding
A common mistake in a country which would benefit from better education systems. It's sad they don't teach English grammar in state schools any longer. I recently sat in with a group of university students on one of their tutorials. there was only one of eight who knew what a verb, adjective, noun etc were. They had never been taught. I'll bet none of them would have known the difference between an amount and a number either.
But help is on the way for the education system. Chris Hipkins, Labour's education spokesman indicated in an interview on Radio Live yesterday that due to some Wellington highschool boys writing derogatory statements about girls and girls protesting about them, Labour would consider making "sexuality education" as part of the curriculum to deal with this terrible problem. Host Alison Mau said stance on this issue would decide her vote in this year's election. Bill obviously got it wrong thinking superannuation, economy, tax and housing would be election issues. Labour has their finger on the pulse on this one
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17-03-2017, 08:10 AM
#11889
I've given up on what I used to regard as the mis-use of the English language - " the amount of people"; the current fashion of pronouncing verbs such as "contribute" in the same way as the noun, etc. I now accept that for right or wrong, language evolves over time. I feel much better now!
Last edited by macduffy; 17-03-2017 at 08:12 AM.
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17-03-2017, 08:43 AM
#11890
Originally Posted by Bjauck
Like knowing when to use fewer and less. I saw Eddie Maguire's show the other day - Australian English gramma standards don't seem to be much better. Only shows that now is not to the time to have lass tax and fewer taxes. Increase the funding for education and health!
Or find better ways without increasing spend.
You are right; Aussie grammar is also bad. Strange as it may seem to some, American kids are far more articulate, and well grounded in grammar, albeit some American grammar is 'foreign' to us - but they know their rules. British grammar is the worst by far, 'it were broke' which I heard the one and only time I watched a few minutes of Coronation Street. Two words wrong in a three word statement" Only in England!
Less/fewer - amount/number, all part of the same rule.
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