Labour govt 2020-23

[fungus pudding]

Show me the Tax rule that says that.
It doesn't exist - there is no capital gains tax.
Converting Capital Gains into spending money doesn't suddenly make it taxable income - it is still just converting capital.

I agree with you in a logical sense but that isn't how the tax laws are written.

There is no CGT as such, and therefore no CGT rate, but traders are taxed at their marginal rates on capital gained (aka profit). Converting capital gains into spending money can certainly make for a tax bill. Traders are viewed differently than investors, and regular transactions are more likely to be viewed as trading actvity rather than investing. It all goes back to the original intention - and Mr. Taxman may have his own opinion on that, not necessarily agreeing with yours. There's a lot of grey in the taxman's bible - but you are wrong if you think you can just lie back and live off untaxed capital gains. Not that it matters - cos you can live pretty well off investments, paying tax on dividends, rents, and other investment income, avoiding the need to sell. In fact the fungus rule of survival is ACCUMULATE. Don't trade - don't sell - just keep stacking up income. COLLECT.

[winner69]

Inflation not seen since 1987

Just as well we have Grant in charge …he’ll fix it

[Getty]

Inflation not seen since 1987

Just as well we have Grant in charge …he’ll fix it

Hope we dont hear a crashing sound we haven't had since 1987.

Grant may have trouble fixing that.

[fungus pudding]

Inflation not seen since 1987

Certainly has been around this neck of the woods. Get yourself along to Specsavers!

[Logen Ninefingers]

Sounds like it's lucky the child didn't die; a clear case of child neglect and abuse, yet weakly the charge is 'criminal nuisance'. More 'Woke' policing under this Labour outfit.

So who is responsible for this shocking case? I hope you've been conditioned as I have to blame 'Oranga Tamariki', which seems to be the whipping boy on which abuse is to be heaped. 'Oranga Tamariki' are 'failing us', that's what the media and Kelvin Davis are telling me. We certainly cannot blame the actual perpetrators and their whanau.

https://www.stuff.co.nz/national/cri...e-for-two-days

Toddler who chewed on meth packet barely slept or ate, had no medical care for two days
David Clarkson
14:31, Oct 18 2021

A woman who found her 11-month-old son chewing on a bag that had held methamphetamine did not seek medical attention for more than two days despite the toddler being distressed and barely sleeping or eating.

The child was taken to hospital only after a phone call from the woman to an associate in prison, in which she recounted the boy’s symptoms, was intercepted. Oranga Tamariki staff then went to her home to check on the child’s welfare. Toxicology testing later confirmed the presence of methamphetamine and amphetamine in the boy’s bloodstream.

The 30-year-old woman was initially charged with ill-treatment of a child by not getting her 11-month-old son medical attention, and later leaving her seven-year-old son without reasonable supervision and care. In the Christchurch District Court on Monday she pleaded guilty to the lesser charge of causing a criminal nuisance.

[artemis]

Reckon IRD treating someone as a trader could depend on age of the asset owner and their intention when accumulating the assets. So a retired owner starting to supplement the pension by slowly selling down assets accumulated over many years, popping the proceeds in the bank (and paying RWT on the meagre interest) should not raise a red flag at IRD. Should not, but could I guess.

Common enough for financial advisers to advise liquidate 4% or so a year. Maybe if there are any posting here they could tell us what the tax advice is for that scenario.

[Panda-NZ-]

Ah, the wonders of a socialist society eh?

Vietnam and china place hard limits on the number of kids.

Christians often don't even believe in birth control, catholic bill english for an example (6 kids )

[Panda-NZ-]

There is no CGT as such, and therefore no CGT rate, but traders are taxed at their marginal rates on capital gained (aka profit). Converting capital gains into spending money can certainly make for a tax bill. Traders are viewed differently than investors, and regular transactions are more likely to be viewed as trading actvity rather than investing. It all goes back to the original intention - and Mr. Taxman may have his own opinion on that, not necessarily agreeing with yours. There's a lot of grey in the taxman's bible - but you are wrong if you think you can just lie back and live off untaxed capital gains. Not that it matters - cos you can live pretty well off investments, paying tax on dividends, rents, and other investment income, avoiding the need to sell. In fact the fungus rule of survival is ACCUMULATE. Don't trade - don't sell - just keep stacking up income. COLLECT.

The CGT would simplify the tax system... instead of all this predicting what the IRD will do, there could be a simple flat rate of 10 or 15%.

Many right wing people should be in favour.

[dobby41]

The CGT would simplify the tax system... instead of all this predicting what the IRD will do, there could be a simple flat rate of 10 or 15%.

Many right wing people should be in favour.

You have my vote and I stand to lose if it was introduced.
The devil is in the detail of course.

[Getty]

Vietnam and china place hard limits on the number of kids.

Christians often don't even believe in birth control, catholic bill english for an example (6 kids )

um, er, I'm not sure who you are pandering to Panda, with that deduction from my post.

I can only assume you mean that English Catholics, and in particular Bill English & his wife, bring up their kids better than many, and are less inclined to send the bill to the taxpayer?