Labour govt 2020-23

[artemis]

Wow, $1.3 Billion over 4 years. Did NZ suddenly stumble across a huge financial windfall?! I haven't read anything about income tax increasing, or a capital gains tax coming into being - so how are we paying for this? Or are we just going full 'silly season' until the onset of 'The Great Reset'? I get the feeling Robertson and co aren't even pretending any more. ....

Meanwhile, in other news - ''Treasury & RBNZ say the government will eventually have to consider raising taxes or cutting expenditure to prepare for the next crisis''

Also meanwhile, but not news yet - the brain drain to Australia ramps up a lot because more pay, plenty of jobs especially for the high skilled net taxpayers and open borders. Tax revenue starts to drop .... New Zealand has been here before.

https://www.interest.co.nz/news/1127...xes-or-cutting

[westerly]

As Lee Kuan Yew of Singapore said to John Key once, seems like NZ put in welfare systems without any idea of the outcome.

Great place Singapore. https://www.reuters.com/technology/s...ur-2021-09-06/
Don,t think it appeals to me.

westerly

[BlackPeter]

Great place Singapore. https://www.reuters.com/technology/s...ur-2021-09-06/
Don,t think it appeals to me.

westerly

Sour grapes? I suppose they would not want you anyway ...

[peetter]

Meanwhile, in other news - ''Treasury & RBNZ say the government will eventually have to consider raising taxes or cutting expenditure to prepare for the next crisis''

Also meanwhile, but not news yet - the brain drain to Australia ramps up a lot because more pay, plenty of jobs especially for the high skilled net taxpayers and open borders. Tax revenue starts to drop .... New Zealand has been here before.

https://www.interest.co.nz/news/1127...xes-or-cutting

Taxes are raised every year for last 11 years that tax brackets haven't been adjusted to inflation. That means just this year, we're paying 4-5% more taxes than last year. This increase is made even higher by raising minimum wage, which is now almost at the boarder of 30% tax bracket, add $3 and minimum wage workers are taxed at 30%.

[Balance]

Great place Singapore. https://www.reuters.com/technology/s...ur-2021-09-06/
Don,t think it appeals to me.

westerly

You will be in jail over there with their zero tolerance policy to crime.

[davflaws]

This increase is made even higher by raising minimum wage, which is now almost at the boarder of 30% tax bracket, add $3 and minimum wage workers are taxed at 30%.

I'll have a word with Grant - perhaps he can be persuaded to adjust the lower threshold and push the top rate up a bit to compensate.

[Getty]

I'll have a word with Grant - perhaps he can be persuaded to adjust the lower threshold and push the top rate up a bit to compensate.

I thought you two were a bit close...

[fungus pudding]

I'll have a word with Grant - perhaps he can be persuaded to adjust the lower threshold and push the top rate up a bit to compensate.

39% will do enough damage without pushing it higher.

[dobby41]

I'll have a word with Grant - perhaps he can be persuaded to adjust the lower threshold and push the top rate up a bit to compensate.

Pulling a bit more 'income' into the net would make a big difference.
Quite possible to live off tax-free capital gain and pay no tax at all.

[fungus pudding]

Pulling a bit more 'income' into the net would make a big difference.
Quite possible to live off tax-free capital gain and pay no tax at all.

Rubbish. Try it and you'll see.