National - FFS!

[Logen Ninefingers]

Always nice to know that the wealthy can avoid the “wealth tax” of gst by buying real state, which is where much of NZ’s “wealth” resides!

If you only buy real estate and shares, at what point do you ever get to enjoy the fruits of all your wealth? You can’t eat, drink, sail, or drive shares. At the point where you want to turn some of your wealth into a brand new Volvo, or a sumptuous lunch at a 5 star restaurant, or a brand new sailing boat - that’s when the state clips the ticket to the tune of 15%. And if the wealthy aren’t purchasing these things, then I guess we’ll have to pretend that there are no marinas in the ‘City of Sails’ and no prestige European car dealerships about the place either.

Goodness me, what a hornets nest has been stirred up simply by pointing out some obvious facts.

[Bjauck]

If you only buy real estate and shares, at what point do you ever get to enjoy the fruits of all your wealth? You can’t eat, drink, sail, or drive shares. At the point where you want to turn some of your wealth into a brand new Volvo, or a sumptuous lunch at a 5 star restaurant, or a brand new sailing boat - that’s when the state clips the ticket to the tune of 15%. And if the wealthy aren’t purchasing these things, then I guess we’ll have to pretend that there are no marinas in the ‘City of Sails’ and no prestige European car dealerships about the place either.

Goodness me, what a hornets nest has been stirred up simply by pointing out some obvious facts.

Your facts were opinions? You can walk around your mansion and gardens while others can enjoy flats and have no option but to pay GST immediately on every drop of after-tax income.

[Logen Ninefingers]

You can walk around your mansion and gardens while others can enjoy one room flats and have no option but to pay GST immediately on every drop of income.

‘GST immediately on every drop of income’? Lol. Turn it up, you’re thinking of PAYE.

Again, if you are a wealthy person wanting to do anything besides ‘walk around your mansion and gardens’ then at the point where you want to turn some of your wealth into a brand new Volvo, or a sumptuous lunch at a 5 star restaurant, or a brand new sailing boat - that’s when the state clips the ticket to the tune of 15%. And - like I said in my previous post - if the wealthy aren’t purchasing these things, then I guess we’ll have to pretend that there are no marinas in the ‘City of Sails’ and no prestige European car dealerships about the place either.

[Logen Ninefingers]

Your facts were opinions?

No. Facts are facts.

[Bjauck]

‘GST immediately on every drop of income’? Lol. Turn it up, you’re thinking of PAYE.

Again, if you are a wealthy person wanting to do anything besides ‘walk around your mansion and gardens’ then at the point where you want to turn some of your wealth into a brand new Volvo, or a sumptuous lunch at a 5 star restaurant, or a brand new sailing boat - that’s when the state clips the ticket to the tune of 15%. And - like I said in my previous post - if the wealthy aren’t purchasing these things, then I guess we’ll have to pretend that there are no marinas in the ‘City of Sails’ and no prestige European car dealerships about the place either.

That is true they cannot avoid paye and then gst, by purchasing assets.

In my experience many wealthy folk accumulate their real estate portfolio etc. on the back of frugality and a less ostentatious consumer lifestyle. And yep they often enjoys the fruits of their wealth by being homebodies without getting a Lambo or going to St Moritz! Being wealthy of course gives you more choice as to how much and when the state “clips the gst ticket”.

[Logen Ninefingers]

That is true they cannot avoid paye and then gst, by purchasing assets.

In my experience many wealthy folk accumulate their real estate portfolio etc. on the back of frugality and a less ostentatious consumer lifestyle. And yep they often enjoys the fruits of their wealth by being homebodies without getting a Lambo or going to St Moritz! Being wealthy of course gives you more choice as to how much and when the state “clips the gst ticket”.

Well if you do go and buy ‘a Lambo’ you’ll be a wealthy person and you’ll pay 15% GST (consumption tax) when you do so. Waiting for them to get cheaper isn’t a viable strategy, and if you go ahead and make the purchase there is no way you can avoid this tax.

‘Both the Urus S and Urus Performante are available for sale in New Zealand now, with the S starting at $395,000+orc while the Performante carries a $50,000 premium.’

Someone is buying ‘lambo’s’, someone wealthy. If they weren’t, they wouldn’t be offered for sale here.

[Azz]

You can walk around your mansion and gardens

And pay the council wealth tax.

[Logen Ninefingers]

And pay the council wealth tax.

Good point. Rates have been going up at an exponential rate & it’ll be the same next year and the year after….

[Getty]

Good plan. It’s time to end the inhumane and brutal policy agenda of being charged 15k on my lambourghi.

Very rare brand that Lambourghi.

Fiat Panda is much more common.

I may get a Lamborghini.

[Bjauck]

And pay the council wealth tax.

Services that provide your property with much of its value should be free? My rates contain a significant uniform general charge too.