TOP Party one to watch in this election

[Aaron]

Have not read much except this article.

https://www.newsroom.co.nz/top-promi...ce-on-the-side

Investing in the future of NZ an interesting concept other parties may not have considered in their haste to brown nose boomers.

No talk of the Equity Tax and no talk of universal basic income???

Thought I would post here instead of reading TOPs website so I could find out everything wrong with their ideas so I can approach their marketing with an open mind.

Income tax policy seems to be the opposite of ACT with a $15,000 tax free threshold. 45% top tax rate over $250,000 not sure what they are thinking based on what I read all the rich people will leave NZ.

Interesting to hear that Chris Hipkins GST "idea" came from a "focus group". What is a focus group? and should they be deciding policy for all NZ?

Grant Robertson likes the GST idea now he is "in it for us" but David Parker appears to have some integrity and won't say what he thinks. Chippy deserves to lose.

Although Luxon's latest greatest idea is to get foreigners to boost the value of his residential portfolio. This does not appear to consider young NZers or that fact that foreigners buying existing houses adds very little to NZ other than the price of houses. I guess Chris's kids will be OK though.

[dln]

Extended interview with Raf Manji (on BHN)

https://youtube.com/watch?v=qC2bR644WgU

[nztx]

Have not read much except this article.

https://www.newsroom.co.nz/top-promi...ce-on-the-side

Investing in the future of NZ an interesting concept other parties may not have considered in their haste to brown nose boomers.

No talk of the Equity Tax and no talk of universal basic income???

Thought I would post here instead of reading TOPs website so I could find out everything wrong with their ideas so I can approach their marketing with an open mind.

Income tax policy seems to be the opposite of ACT with a $15,000 tax free threshold. 45% top tax rate over $250,000 not sure what they are thinking based on what I read all the rich people will leave NZ.

Interesting to hear that Chris Hipkins GST "idea" came from a "focus group". What is a focus group? and should they be deciding policy for all NZ?

Grant Robertson likes the GST idea now he is "in it for us" but David Parker appears to have some integrity and won't say what he thinks. Chippy is a di*k and deserves to lose.

Although Luxon's latest greatest idea is to get foreigners to boost the value of his residential portfolio. This does not appear to consider young NZers or that fact that foreigners buying existing houses adds very little to NZ other than the price of houses. I guess Chris's kids will be OK though. What a cu*t.

Focus Group = probably a meet up with the skoolkids at one of the local Primary schools
previously aka as a Think tank .. the only problem now being that Labour are incapable of that

In desperate times everyone else are pushing their own concepts for policy and it's lost on Labour
who now know at best they will be possums in the headlights having to roll with punches of the factions
and trojan hijackers, if not completely swept away by Kiwis at large who have basically had a guts full
of Lab/Green BS after past 6 years

[justakiwi]

Yep, first $15,000 of income tax free but tax rate for anyone earning $15,000-$80,000 moves to 20%. Which, for those at the lower/middle of that income bracket, pretty much negates the "tax free" amount.

Not to mention the new Land Tax, which doesn't effect me obviously, but if it did, I sure wouldn't be happy about it.

A land value tax at 0.75% of the value of urban residential land, paid annually.

• Commercial, rural, conservation and Māori land would be excluded.
• Superannuants could opt to defer payment until there is a change in ownership of the property

Then there is Phase 2:

Universal Basic Income:

• Introduce a $16,500 annual tax-free income to all citizens and residents aged between 18 and 65 years, paid weekly. There won’t be any changes to superannuation.

A UBI will enable people to take time out to invest in themselves (e.g. study or retrain). And, it will free many Kiwis from the welfare trap where they are subject to an undignified, punitive and expensive welfare system. Those on welfare transfers larger than the UBI will be topped up to the original.
The introduction of a Universal Basic Income will grow New Zealand's economy, and it is estimated to be fiscally neutral (within 1% of GDP).

Alongside our plan to introduce a Universal Basic Income, we will also introduce several targeted reforms to create a highly progressive tax system:

• Remove tax loopholes and simplify the tax system with a single income tax rate of 35% (for personal, company and trust income).
• Increase the annual land value tax on residential land (established in Phase 1) to 1.25%.

You going to vote for this? I sure as hell wouldn't.

[clearasmud]

Yep, first $15,000 of income tax free but tax rate for anyone earning $15,000-$80,000 moves to 20%. Which, for those at the lower/middle of that income bracket, pretty much negates the "tax free" amount.

Not to mention the new Land Tax, which doesn't effect me obviously, but if it did, I sure wouldn't be happy about it.

A land value tax at 0.75% of the value of urban residential land, paid annually.

• Commercial, rural, conservation and Māori land would be excluded.
• Superannuants could opt to defer payment until there is a change in ownership of the property

Then there is Phase 2:

Universal Basic Income:

• Introduce a $16,500 annual tax-free income to all citizens and residents aged between 18 and 65 years, paid weekly. There won’t be any changes to superannuation.

A UBI will enable people to take time out to invest in themselves (e.g. study or retrain). And, it will free many Kiwis from the welfare trap where they are subject to an undignified, punitive and expensive welfare system. Those on welfare transfers larger than the UBI will be topped up to the original.
The introduction of a Universal Basic Income will grow New Zealand's economy, and it is estimated to be fiscally neutral (within 1% of GDP).

Alongside our plan to introduce a Universal Basic Income, we will also introduce several targeted reforms to create a highly progressive tax system:

• Remove tax loopholes and simplify the tax system with a single income tax rate of 35% (for personal, company and trust income).
• Increase the annual land value tax on residential land (established in Phase 1) to 1.25%.

You going to vote for this? I sure as hell wouldn't.

Yes I could.

[justakiwi]

Why? Serious question.

A single tax rate of 35%??????

Yes I could.

[clearasmud]

Why? Serious question.

A single tax rate of 35%??????

I thought you said 15k tax free then 20% to 80k plus a Universal income of 16.5k

[justakiwi]

Read the rest of what I posted under Phase 2 of their plan.

I thought you said 15k tax free then 20% to 80k plus a Universal income of 16.5k

[Aaron]

[SIZE=3][FONT=arial]Yep, first $15,000 of income tax free but tax rate for anyone earning $15,000-$80,000 moves to 20%. Which, for those at the lower/middle of that income bracket, pretty much negates the "tax free" amount.

You going to vote for this? I sure as hell wouldn't.

I am unsure how you did your sums to come up with this statement even at $44,000 with the Independent Earner Tax Credit you are paying $400.00 less under TOP's policy.

As far as the land tax goes it is simple and hard to avoid so I like it. The rate is quite high at .75% my council rates currently work out at around .04% on GV and I think the rates in my area are higher than most. An across the board capital gains tax would be preferable but that can come in time. Their original equity tax was also pretty radical.

.75% works out at $6,750 on an average house valued at $900,000. Ideally you would want stage two to be implemented sooner so your UBI could cover the tax.

Stage two the flat tax of 35% sounds radical. FP would like this if it were 20%. The 35% rate also means that most of our UBI would have to go into paying taxes if we also have a job so it is not the crazy handout that we first thought it was.

Haven't done the numbers but like the sound of "progressive tax rates"

Interesting that Justakiwi and Daytr have come out against such progressive and fair minded policies. Not so easy being a liberal when it comes out of your own pocket but in justakiwi's case if your financial situation is as you have mentioned on this site this is the party for you.

A "radical centrist party" sounds like a conflict in terms.

Gareth Morgan was too arrogant or not smart enough to realise TOP would have a better chance if they focused on an electoral win and dragged a couple of extra MPs in with the party vote.

Hey Baa Baa what was TOPs party vote when Gareth first formed it?

I don't know what Raj Manji's chances are in Ilam and if he does not win a TOP vote could be a wasted vote as they do not appear to be able to get the 5% threshold.

I will probably vote for them anyway as I do not like the alternatives and any party looking to invest in young people once again is worth a go. You have to start somewhere.

Note to boomers National Superannuation will not be touched.

[justakiwi]

Firstly, not everyone qualifies for IETC - if you are on any kind of income tested benefit, you do not qualify, even if you are also working (part time/casual or whatever). That is currently my situation as for health reasons I can only work up to 15 hours a week. I am currently doing casual caregiving shifts as available, which is taxed at secondary tax rates. And yes, I am receiving financial assistance from WINZ, so do not qualify for IETC. My total income will be well under $40,000 (more likely to be closer to $30,000).

Secondly, do you seriously think saving $400 a year is of any significance right now? That is $7.69/week - won't even buy you a dozen eggs.

As for the phase 2 flat tax rate of 35% - how the hell do you think that is going to benefit anyone on a low income?

I am sorry, but this is probably the last party that I would vote for, in terms of how it would/would not benefit me as an individual. Even if I was not receiving a benefit, and was still working 30 hours a week, I do not see how I would possibly be any better off than I would be right now. But feel free to explain it to me if you think I am wrong.

As for your last statement - this "I will probably vote for them anyway as I do not like the alternatives" is precisely the issue this time round. People are making voting decisions based solely on getting Labour out of government. In other words, they are "settling" for a party they do not actually want to vote for. Which makes a total farce of our political system as far as I am concerned. Voting for "the best out of a ****ty bunch" is not a good reason for voting for a party - regardless of which party it might be.

I am unsure how you did your sums to come up with this statement even at $44,000 with the Independent Earner Tax Credit you are paying $400.00 less under TOP's policy.

As far as the land tax goes it is simple and hard to avoid so I like it. The rate is quite high at .75% my council rates currently work out at around .04% on GV and I think the rates in my area are higher than most. An across the board capital gains tax would be preferable but that can come in time. Their original equity tax was also pretty radical.

.75% works out at $6,750 on an average house valued at $900,000. Ideally you would want stage two to be implemented sooner so your UBI could cover the tax.

Stage two the flat tax of 35% sounds radical. FP would like this if it were 20%. The 35% rate also means that most of our UBI would have to go into paying taxes if we also have a job so it is not the crazy handout that we first thought it was.

Haven't done the numbers but like the sound of "progressive tax rates"

Interesting that Justakiwi and Daytr have come out against such progressive and fair minded policies. Not so easy being a liberal when it comes out of your own pocket but in justakiwi's case if your financial situation is as you have mentioned on this site this is the party for you.

A "radical centrist party" sounds like a conflict in terms.

Gareth Morgan was too arrogant or not smart enough to realise TOP would have a better chance if they focused on an electoral win and dragged a couple of extra MPs in with the party vote.

Hey Baa Baa what was TOPs party vote when Gareth first formed it?

I don't know what Raj Manji's chances are in Ilam and if he does not win a TOP vote could be a wasted vote as they do not appear to be able to get the 5% threshold.

I will probably vote for them anyway as I do not like the alternatives and any party looking to invest in young people once again is worth a go. You have to start somewhere.

Note to boomers National Superannuation will not be touched.