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  1. #2621
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    Quote Originally Posted by Aaron View Post
    I think simpletons also pay tax on their nominal wage increases last time I looked. Some of them enter a higher tax bracket through bracket creep as well but as you say owners of capital should not have to pay tax but labour should. So very sensible now that you have explained it to a simpleton like me.

    To say the poor blighter has done nothing at all to cause house price inflation is not exactly true. Of course he has, he has voted national or labour on the basis they don't rock the boat on monetary policy and house prices and lose the boomer vote.
    They should certainly solve the problem of bracket creep - easily achieved by introducing a flat tax.
    Wage earners receive real increases, whereas the hard done by property owner has to suffer the falling value of a depreciating assett which the dopey govt. recently decided to no longer allow depreciation for. So the poor investor now pays tax on his losses.
    No wonder they need to regularly increase rents! Imagine how much it would cost to fly if the airlines couldn't depreciate their planes!
    At least you should have some sympathy for the poor landlords!
    Last edited by fungus pudding; 31-03-2022 at 03:50 PM.

  2. #2622
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    Quote Originally Posted by fungus pudding View Post
    They should certainly solve the problem of bracket creep -easily achieved by introducing a flat tax.
    A flat tax and no capital gains tax. You may have all the solutions for a better NZ FP. Although if I recall you were unable to answer a simple quiz relating to progressive tax so it may be you prefer something SIMPLE you can understand.

    Better talk to ACT re the flat tax, but Labour and National are already onboard with not taxing the wealthy. Both major parties have their lips firmly attached to boomer arseholes (double entendre intended)

    No point voting for any of these parties if you are genuinely concerned about 1st home owners.
    Last edited by Aaron; 31-03-2022 at 03:49 PM. Reason: Simpleton effort to insult FP

  3. #2623
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    Quote Originally Posted by Aaron View Post
    A flat tax and no capital gains tax. You may have all the solutions for a better NZ FP. Although if I recall you were unable to answer a simple quiz relating to progressive tax so it may be you prefer something SIMPLE you can understand.

    Better talk to ACT re the flat tax, but Labour and National are already onboard with not taxing the wealthy. Both major parties have their lips firmly attached to boomer arseholes (double entendre intended)

    No point voting for any of these parties if you are genuinely concerned about 1st home owners.
    When was I unable to answer a quiz on progressive tax?

  4. #2624
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    Quote Originally Posted by fungus pudding View Post
    When was I unable to answer a quiz on progressive tax?
    "ACTs David Seymour I like his style thread". Post number 87.

    Seems we are still arguing about the same thing and you are still wrong.

    Some things never change.
    Last edited by Aaron; 31-03-2022 at 04:20 PM.

  5. #2625
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    Quote Originally Posted by Aaron View Post
    "ACTs David Seymour I like his style thread". Post number 87.

    Seems we are still arguing about the same thing and you are still wrong.

    Some things never change.
    I don't know what question you mean. I looked at that post - but can't see a direct question. Anyay, I'm sure you're happy with your opinion, and that's fine and dandy.

  6. #2626
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    I posted on the wrong thread
    Last edited by Bjauck; 04-04-2022 at 10:15 AM.

  7. #2627
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    Meanwhile in Vancouver, Canada:

    https://dailyhive.com/vancouver/bc-g...ed-development

    A new bill tabled by BC minister of transportation and infrastructure Rob Fleming today will provide BC Transportation Financing Authority with the legal ability to acquire land next to public transit hubs — SkyTrain stations and bus exchanges — to build more housing and community benefits.

    “Public transit isn’t just about getting people from A to B, it’s also about building greener and more liveable communities,” said Fleming. “We will increase the level of affordable housing and services that are integrated into our significant investments in transit.”[COLOR=rgba(0, 0, 0, 0.87)]
    [/COLOR]
    I know Auckland does not have a rapid public transit system like Vancouver, but it's also important that our gov't does not sit around and do nothing. Dream up ideas like building a fancy cycle bridge across a harbour, while social housing queues grow to record levels year after year. I'm disgraced of all the pandering to the rich and wealthy in NZ as they've scooped up ownership in houses and land.

  8. #2628
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    Quote Originally Posted by SBQ View Post
    I know Auckland does not have a rapid public transit system like Vancouver, but it's also important that our gov't does not sit around and do nothing. Dream up ideas like building a fancy cycle bridge across a harbour, while social housing queues grow to record levels year after year. I'm disgraced of all the pandering to the rich and wealthy in NZ as they've scooped up ownership in houses and land.
    There's roadworks everywhere too. Its sad that there will never be a time when there isn't.

    I wish I was colourblind to orange.

  9. #2629
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    Quote Originally Posted by Panda-NZ- View Post
    There's roadworks everywhere too. Its sad that there will never be a time when there isn't.

    I wish I was colourblind to orange.
    Same here in Christchurch. Today I ended up in a detour that took me over 30 mins extra to get to my destination (right around 5pm rush hour time).

    One thing I can't get use to driving around NZ is when going from 1 residential suburb to another, it always seems like i'm "driving residential". A strong contrast to in Canada where streets and avenues are gridded with major 4 lane road ways that separate the suburbs. Houses have back alley access which facilitates very well to future planning of sub-dividing / 'Lane House' development. We certainly use land in NZ in an inefficient way when it comes to subdividing lots. Cumulative if you add up every titled lot that has a dedicated driveway to access the back section, this would amount more land coverage than to have an alley way.

    In 4 months time the Resource Mgt Act will be updated to allow higher density building on exiting titled lots. This is long overdue but NIMBY fear that such houses will be over cramped and ugly in appearance.

  10. #2630
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    Default Canada is Doing More

    Trudeau has updated Canada's 2022 Budget:

    https://budget.gc.ca/2022/home-accueil-en.html

    Under Savings, the new scheme that attracted my attention is:

    • Budget 2022 proposes to introduce the Tax-Free First Home Savings Account that would give prospective first-time home buyers the ability to save up to $40,000. Like an RRSP, contributions would be tax-deductible, and withdrawals to purchase a first home—including investment income—would be non-taxable, like a TFSA. Tax-free in, tax-free out.
    Unlike NZ, if a person earns $50K / year but pays $15K in that in income taxes, they can choose to allocate say $10K of that towards the TFFHS scheme and only pay $5K in income taxes. Furthermore, ALL of the gains in that portfolio grows 100% tax free. Upon time of withdrawal, those funds will go towards the purchase of the individual's 1st home. We have nothing like this in NZ.

    • Budget 2022 proposes to double the First-Time Home Buyers’ Tax Credit amount to $10,000, providing up to $1,500 in direct support to home buyers, applying to homes purchased on or after January 1, 2022.
    The FTHBTC would be comparable to NZ scheme below:

    http://kaingaora.govt.nz/home-owners...st-home-grant/

    However the Kiangaora has some hitches. You HAVE TO BE paying into Kiwi Saver for at least 3 years and the amounts you get towards the purchase is capped based on how many years in the KS scheme. This is different to Canada's FTHBTC where the Cdn Gov't GIVES you $10,000 of tax benefit (because it's only natural a person working, would be paying taxes, and no bank is going to lend $ to someone that doesn't have a job) - so effectively, they are getting the full $10,000 being paid towards the house purchase. In addition to the $1,500 freebee grant which normally pays the conveyance fees. So in comparison, NZ's kaingaora is a joke.

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