National - FFS!

[Panda-NZ-]

NZ's deficit is $10b lower today.

Which is much better than Sir john achieved after the GFC.

Let's not waste that on a tax cut for wealthy earners.

[Bjauck]

You claimed some wealthy people paid around 12% on income. Tax is assesed on income - not wealth. And income tax is close to impossible to legally avoid, evasion is illegal, there are limits on gifting. Don't believe everyting you hear - it just ain't that easy to avoid tax on income.

Tax is also levied on goods and services, unrealised capital gains on overseas investment (wealth) , some overseas takeover proceeds (remember DIL.NZX) or demerger shares valuation or proceeds (wealth), some realised NZ investor real estate capital gains if within bright-line period etc.

[fungus pudding]

Tax is also levied on goods and services, unrealised capital gains on overseas investment (wealth) , some overseas takeover proceeds (remember DIL.NZX) or demerger shares valuation or proceeds (wealth), some realised NZ investor real estate capital gains if within bright-line period etc.

How do these clever bods get to pay only 12% on their income? I'm sure I'm not the only one who would like to know.

[Bjauck]

How do these clever bods get to pay only 12% on their income? I'm sure I'm not the only one who would like to know.

It beats me. Looking at the linked item, it must depend on the definition of “income” to mean the broad “economic income” rather than just “taxable income.”
https://www.stuff.co.nz/national/pol...t-data-reveals

[tim23]

Oh no, rich blokes!!!

Those who have been successful?

No way!

Much better to have Comrade Cinders diverse mob wreck and divide the country.

2F 1C

Depends on your definition of success- seems for you it’s all about $ but for others it might be successful relationships, contribution to their community etc.

[Getty]

Depends on your definition of success- seems for you it’s all about $ but for others it might be successful relationships, contribution to their community etc.

Most of them have ticked those boxes as well, and proved they can actually innovate and manage, unlike your favorite Aunty's rag tag team of incompetents.

[GTM 3442]

Thank you 777 and BAA-BAA.

Man there's a lot of dodgy numbers bandied about around tax!?!?

[tim23]

Most of them have ticked those boxes as well, and proved they can actually innovate and manage, unlike your favorite Aunty's rag tag team of incompetents.

You don't know that - you are wildly speculating. They may have been had several failed relationships, given nothing to their community, have convictions, who knows? To assume because people have wealth that they are successful hints at some immaturity from you. And again you don't know about government MPs either.

[tim23]

Thank you 777 and BAA-BAA.

Man there's a lot of dodgy numbers bandied about around tax!?!?

Maybe the point from some of the discussion is that people of more means have greater capacity to use accountants and lawyers to minimise their tax. Like manipulating their income so they qualify for WFF or their children can get student allowance.

[fungus pudding]

Maybe the point from some of the discussion is that people of more means have greater capacity to use accountants and lawyers to minimise their tax. Like manipulating their income so they qualify for WFF or their children can get student allowance.

How do these people, or their lawyers + accountants 'manipulate their income'?