National - FFS!

[Bjauck]

Kiwisaver income is taxed, not sure about non-NZ investments though, but proceeds are paid out tax free. Some income from shares is taxed, some effecively not.

TOP has a property tax policy that includes the main home, but it needs to be seen as part of their tax package. IMO it has merit but ain't going to happen this election.

Personally I would prefer a CGT out of a wealth tax or a cgt. However I think the Green Wealth tax, plus options to defer payment, has merit in relation to recalibrating NZ investment priorities as well as broadening the tax base. I think those assets already earning an income should have a credit applied to the wealth tax liability. However the wealth tax rate at 1% over a million and then 2% over $2m is far too high.

I think Spain has a wealth tax rate starting at 0.2% for those who own over the equivalent of $1.25m of net assets. And people in Madrid are given a further allowance to compensate for their high house prices.

[SBQ]

Kiwisaver income is taxed, not sure about non-NZ investments though, but proceeds are paid out tax free. Some income from shares is taxed, some effecively not.

TOP has a property tax policy that includes the main home, but it needs to be seen as part of their tax package. IMO it has merit but ain't going to happen this election.

Overseas share investments (with some exclusions on ASX listed shares), fall under the FIF regime. Yes it's a massive regime and it stinks! I am all for CGT and when Jacinda had that on her election platform, I clearly remember her saying she would introduce CGT. This meant the equalisation of taxation among different asset classes. The max 5% FIF basically operates a bit like a wealth tax but it only factors tax on annual gains with no consideration on tax credit for negative portfolio losses in a year. The Greens wealth tax will be another tax to go on top of that 'a tax on a tax'.

The significance of this wealth tax needs rethinking because it's unfair to say a "couple" living in a house in Auckland would be safe up to $2M net value. UNTIL THE DAY when the one partner dies! and then the surviving spouse would be wacked with an instant wealth tax.

How come there was no response or comment about the "Tax Working Group" that Jacinda wasted $ on 2 years ago? Yes they advised a CGT on residential homes - particularly those landlords that hold for long term (because either 2 or 5 years, no person invests in that short time frame), do sell for 100% tax free on the capital gain. The TWG didn't advise on a Wealth Tax. They also suggested a 'land tax' but that's no different to rates (and frankly speaking, municipal rates operate much like a wealth tax).

The whole NZ tax scheme is a shambles. Likewise with the gov't spending with no performance review. Why is it that many essential services for payment.. are NOT linked to inflation? They do this in Canada - gov't pensions, child allowances, care etc ALL "Indexed to Inflation". Instead in NZ we sit and wait for each respected parties (ie teachers, doctors, etc) to carry on living on a fixed rate pay until it's not enough and then get into union disputes for more pay.

[Bjauck]

...The Greens wealth tax will be another tax to go on top of that 'a tax on a tax'.

The significance of this wealth tax needs rethinking because it's unfair to say a "couple" living in a house in Auckland would be safe up to $2M net value. UNTIL THE DAY when the one partner dies! and then the surviving spouse would be wacked with an instant wealth tax.

How come there was no response or comment about the "Tax Working Group" that Jacinda wasted $ on 2 years ago? Yes they advised a CGT on residential homes - particularly those landlords that hold for long term (because either 2 or 5 years, no person invests in that short time frame), do sell for 100% tax free on the capital gain. The TWG didn't advise on a Wealth Tax. They also suggested a 'land tax' but that's no different to rates (and frankly speaking, municipal rates operate much like a wealth tax).

The whole NZ tax scheme is a shambles. Likewise with the gov't spending with no performance review. Why is it that many essential services for payment.. are NOT linked to inflation? They do this in Canada - gov't pensions, child allowances, care etc ALL "Indexed to Inflation". Instead in NZ we sit and wait for each respected parties (ie teachers, doctors, etc) to carry on living on a fixed rate pay until it's not enough and then get into union disputes for more pay.

Totally agree. The NZ tax system ends up causing a lop-sided investment preference for real estate. The Greens are trying to address the shortcomings in the NZ tax system. They have said it would be tweaked after a review before implementation. However their Wealth Tax plans are set at a low threshold and with high rates. It would actually further penalise those who invest in business and other income producing equities.

Council rates are more like a poll tax. They are reflected in the rent that Landlords charge to their tenants (or taken into account when determining overall profitability of the investment property taking into account expected capital gains and net rent). So both owner-occupiers and tenants (indirectly through rent) end up paying for them.

[dobby41]

If you have premium access Simon Wilson has a few words on the wealth tax.
It's not going to happen - Labour won't accept it.
Greens may be able to leverage a bit though - they do have 6 high priority policies and people have forgotten the other 5.

Given that the payment of the tax can be deferred it won't really impact people.
https://www.nzherald.co.nz/nz/simon-...6XDFLEZJDUWTA/

[fungus pudding]

If you have premium access Simon Wilson has a few words on the wealth tax.
It's not going to happen - Labour won't accept it.
Greens may be able to leverage a bit though - they do have 6 high priority policies and people have forgotten the other 5.

Given that the payment of the tax can be deferred it won't really impact people.
https://www.nzherald.co.nz/nz/simon-...6XDFLEZJDUWTA/

Given that it can be deferred it is a return to death duties, albeit with a brand new name, and in a new packet. Hopefully it will be an end to the Kermit party, who unfortunately have evolved into a very red shade of green.
In fact if you mix red and green you will get brown - so perhaps they should change their monika to The Browns.

[dobby41]

Given that it can be deferred it is a return to death duties, albeit with a brand new name, and in a new packet. Hopefully it will be an end to the Kermit party, who unfortunately have evolved into a very red shade of green.
In fact if you mix red and green you will get brown - so perhaps they should change their monika to The Browns.

Call it what you will.
I doubt that it will end the Greens - they have a place in the electoral landscape.

[fungus pudding]

Call it what you will.
I doubt that it will end the Greens - they have a place in the electoral landscape.

They certainly should have, and if they reverted to an environmental party they would secure their future, and would be more effective in achieving their original goals.
To have some real clout, they should be a single-issue entity, free to coalesce with either the so called left or right.

[BlackPeter]

Given that it can be deferred it is a return to death duties, albeit with a brand new name, and in a new packet. Hopefully it will be an end to the Kermit party, who unfortunately have evolved into a very red shade of green.
In fact if you mix red and green you will get brown - so perhaps they should change their monika to The Browns.

Would not make sense - the brown (as in the SA shirts) is already claimed by ACT.

But maybe we should stay a bit more civilised, shouldn't we? The Greens are not brown, and neither is ACT, though I am concerned about the influence of the corrupt NRA and a NZ weapons lobby focussed just on one thing..

Your language is turning extremist, something I would have expected from some of our worst posters, but not from you. Too much Trump?

[fungus pudding]

Would not make sense - the brown (as in the SA shirts) is already claimed by ACT.

But maybe we should stay a bit more civilised, shouldn't we? The Greens are not brown, and neither is ACT, though I am concerned about the influence of the corrupt NRA and a NZ weapons lobby focussed just on one thing..

Your language is turning extremist, something I would have expected from some of our worst posters, but not from you. Too much Trump?

The suggestion of calling the greens the browns was tongue in cheek. They should simply be known as the Kermits.

[BlackPeter]

The suggestion of calling the greens the browns was tongue in cheek.

OK - we clearly have a different history and upbringing. Where I am coming from the brown colour in politics is reserved for fascists, same as they tend to call in New Zealand Labour "red" and National "blue".

Anyway - maybe we can reduce the name calling of legitimate, decent and democratic parties and just focus on the issues?