Labour govt 2020-23

[Bjauck]

It was until National removed it (they are against low and middle class people having savings).

Kiwisaver contributions could have been an attractive incentive in today's job market if it remained untaxed. There's no incentive to provide more than the absolute minimum now.

I thought the only original tax exemption was for employee contributions (paid gross). That from the start, voluntary and self-employed contributions were made out of taxed income, with no rebate for tax, and that income earned within the locked-in scheme was taxed.

There was the annual $1042 maximum credit.

[Panda-NZ-]

I think this tax was introduced by National on employer contributions:

https://www.ird.govt.nz/employing-st...ution-tax-esct

[Panda-NZ-]

Taxation (Annual Rates and Budget Measures) Bill 2011.

This bill amends the Income Tax Act 2007.

The employer superannuation contribution tax (ESCT) exemption for compulsory employer contributions to KiwiSaver and complying superannuation funds is removed. In addition, employers will be required to calculate ESCT at a rate equivalent to an employee’s marginal tax rate.

http://www.nzlii.org/nz/legis/bill/trabmb2011404.pdf

[Bjauck]

I think this tax was introduced by National on employer contributions:

https://www.ird.govt.nz/employing-st...ution-tax-esct

So Cullen gave those who had income from employment, up to a certain %, a bit of a tax exemption. Did Voluntary payments and contributions from the self-employed get a rebate? Tax was levied on income earned within the scheme. IMHO I think GST levied on KiwiSaver fund fees would have been nodded through by him for consistency.

[tim23]

He was right wasn't he.

National = nothing to show for nine years.

There was no legacy from the Key government- oh hold on a failed flag referendum.

[tim23]

Rock star economy.

Eat your Ardern heart out. 🤣🤣🤣

We have lower unemployment now and higher wages so who’s the rock star now?

[Balance]

Rock star economy = National & John Key.

Very very very satisfying to see the green envy on Ardern’s face this week.

A week of shame & disasters for Ardern - cost of living payment becoming an embarrassment & deceit over KiwiSaver tax grab becoming an albatross around David Clark’s neck.

https://www.rnz.co.nz/news/on-the-in...n-t-see-coming

[tim23]

Credit where credit is due. She remains the most popular politician in the country, which is quite remarkable, and says much about her likeable personality. But not surprising she's made it to leader given the hopeless bunch of riff-raff in her Labour caucus. I certainly wouldn't want her replacement to come from their current ranks. Imagine Kelvin Davis, David Parker, Nana Mahuta, Phil Twyford, Willie Jackson, Tamati Coffey, Greg O'Connor etc - as Prime Minister? Be honest --- you couldn't, could you!


See if you could pick a better leader from this sad bunch.

https://www.labour.org.nz/ourteam

There's only one who could replace her from that lot.

You look to have omitted Grant Robertson - I’m actually expecting him to be the leader and therefore PM before next election.

[Baa_Baa]

You look to have omitted Grant Robertson - I’m actually expecting him to be the leader and therefore PM before next election.

Ha ha lol, for sure, Robertson would be a great choice, he doesn't even get a rating on the preferred prime minister polls, zip, nada. Even Peters, Collins and Key get a rating.

[tim23]

Ha ha lol, for sure, Robertson would be a great choice, he doesn't even get a rating on the preferred prime minister polls, zip, nada. Even Peters, Collins and Key get a rating.

Just goes to show people being polled are pretty dumb - those 3 are not even in parliament 😀