Capital Gains Tax

[Joshuatree]

Many do just that ,thats a cert.
A set of cake knifes coming your way

[777]

Many do just that ,thats a cert.
A set of cake knifes coming your way

Another moronic reply from you.

[Joshuatree]

Not all rich people are out to rip off the system but enough are and they employ experts to do just that with loopholes etc etc. Fact.

[BlackPeter]

Not all rich people are out to rip off the system but enough are and they employ experts to do just that with loopholes etc etc. Fact.

People are not better or worse depending on their bank balance. There is a certain percentage of people trying to rip of the system, and this percentage does not change whether they are rich (tax avoidance) or poor (tax and benefit fraud). Plenty of poor people like to work without paying taxes "you don't need a tax receipt - do you?" - not different to a rich (wo)man trying to hide their income overseas. Not sure about the non-performers, though - they might be worse in terms of ripping off the system.

This constant rich people bashing is revolting and dumb. How do you think our (not so) Santa (but) Taxinda is paying all the lollies she distributed if the people paying the tax are going away?

[westerly]

People are not better or worse depending on their bank balance. There is a certain percentage of people trying to rip of the system, and this percentage does not change whether they are rich (tax avoidance) or poor (tax and benefit fraud). Plenty of poor people like to work without paying taxes "you don't need a tax receipt - do you?" - not different to a rich (wo)man trying to hide their income overseas. Not sure about the non-performers, though - they might be worse in terms of ripping off the system.

This constant rich people bashing is revolting and dumb. How do you think our (not so) Santa (but) Taxinda is paying all the lollies she distributed if the people paying the tax are going away?

More revolting and dumb is your consistently snide comments re the PM as if she is personally responsible for all Labour policy. Criticise the policies not the messenger.

The discussion is about whether higher income earners should pay more tax and whether CGT should be paid on unearned income. Not about rubbishing rich people.
In my view NZ at the higher income levels has low taxation compared with other developed countries. As FP says loopholes in taxation are legitimate but wage and salary earners have little access to them. Whether wealthy immigrants are of value to NZ is questionable, A family with a couple of kids is possibly of more value.
Also I think most of the arguments about CGT have little foundation in fact and are more personal objections to CGT especially seeing nothing has been set in concrete.

westerly

[minimoke]

More revolting and dumb is your consistently snide comments re the PM as if she is personally responsible for all Labour policy. Criticise the policies not the messenger.

To be fair Labour has very little policy. Its all being made up on the hoof. 9 years in opposition and nothing to show for it - which is why Labour cant articulate their CGT policy. Leaving it instead to her hand puppet Cullen who is still trying to stick it to rich pricks.

[SBQ]

More revolting and dumb is your consistently snide comments re the PM as if she is personally responsible for all Labour policy. Criticise the policies not the messenger.

The discussion is about whether higher income earners should pay more tax and whether CGT should be paid on unearned income. Not about rubbishing rich people.
In my view NZ at the higher income levels has low taxation compared with other developed countries. As FP says loopholes in taxation are legitimate but wage and salary earners have little access to them. Whether wealthy immigrants are of value to NZ is questionable, A family with a couple of kids is possibly of more value.
Also I think most of the arguments about CGT have little foundation in fact and are more personal objections to CGT especially seeing nothing has been set in concrete.

westerly

You're incorrect about NZ having lower taxes for high income earners. I would be glad to match NZ's income tax, GST, & ACC to Canada's taxation level. It's well regarded Canada is a country known for high taxation - a key reason why I left 20+ years ago. As I mentioned before, absolute #s don't tell the whole story. You need to work out the buying power that a NZD has vs a CAD or USD has in their country?

The problem I have with Jacinda is her BS talk about making NZ's tax system "fair". Like that video link 2 pages ago about the 3 characters who raised their own family and wanted to put up a fence in their community. If the highest earning family member all of a sudden left, moved abroad, then what would that leave for the other 2 resident families?

You would be a fool to believe domestic $ alone is enough to keep NZ afloat. Foreign investment plays a big part of NZ. Almost all the banks in NZ are foreign, they won't stick around if the investment wasn't in NZ. Do you really want to wish that everyone ends up working for the gov't? It's an argument I had at my last social party I went to where a person suggested rich people don't pay enough. He couldn't understand that rich people don't just leave their $ in a bank account and drive fancy cars. Most derived their income from businesses (or investing in businesses) which provide employment. Take away the after tax profit incentive and then what would you have at the end? Remember, this is NZ - $ can easily flow out. What are the reason for those that worked hard to stick around? Canada has plenty of mountains and fresh water lakes ; it's nothing that NZ has is unique around the world.

The question every NZ person should query is; How much of the tax revenue is paid by the rich or top 20%? and more importantly, how much MORE taxes do you expect the Labour Gov't to get from those top 20% before THEY start moving abroad? It's a very simple question.

[fungus pudding]

Not all rich people are out to rip off the system but enough are and they employ experts to do just that with loopholes etc etc. Fact.

If a loophole exists it is perfectly legal to use it. It is not ripping off anything or anyone. It would be plain daft not to apply tax law to the best advantage, whether you are rich or poor.

[Vaygor1]

I found this February 2019 discussion on CGT with Roger Douglas very interesting.

https://www.facebook.com/magictalkra...9582031549755/

It is lengthy, but it is all worth listening to imho, in particular the first 24 minutes.

Disc: Not a Roger Douglas fan by any stretch. As interesting as this discussion is, I offer no view on it.

[Joshuatree]

Share a little before you go it will come back in spades. Cake knives your way.Learn and use.Never too late to become a giver 777