Currency

Old Feb 19th 2013, 6:50 am
  #61  
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Default Re: Currency

Originally Posted by Genesis View Post
That would be right in this stupid little country. GST on food so those who are really poor will suffer but anyone who has money to buy gold bars..go on fill your boots!!! It is the one thing that SHOULD be GST'd. I would expect it if I traded gold. It is an utter luxury...tax it!!!!!
Well, I have to say... Anyone who says "Tax something which isn't already taxed to the hilt" has to be mental. Don't you pay enough tax? Too much, maybe?

And if you consider this to be a "Stupid little country", then you're obviously too damned good for it. So you'll be leaving then, and going somewhere "not stupid"? Where might that be?

Last edited by downunderpom; Feb 19th 2013 at 6:54 am.
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Old Feb 19th 2013, 7:38 am
  #62  
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Default Re: Currency

Originally Posted by Genesis View Post
That would be right in this stupid little country. GST on food so those who are really poor will suffer but anyone who has money to buy gold bars..go on fill your boots!!! It is the one thing that SHOULD be GST'd. I would expect it if I traded gold. It is an utter luxury...tax it!!!!!
???? I think the stupidity is a bit closer to home, bullion is like money itself, do you seriously want to pay GST on NZD that you bought with your GBP?? Pay GST on GBP if you go back to the UK....nonsense.

Its getting a bit tiresome to keep hearing how much a certain FX rate shift means to the nearest $50,000 to you, perhaps you need to realise many people on here have much less than that as their total moving fund....but harp on how hard life is won't you.
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Old Feb 19th 2013, 8:58 am
  #63  
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Default Re: Currency

Originally Posted by simonsi View Post
???? I think the stupidity is a bit closer to home, bullion is like money itself, do you seriously want to pay GST on NZD that you bought with your GBP?? Pay GST on GBP if you go back to the UK....nonsense.

Its getting a bit tiresome to keep hearing how much a certain FX rate shift means to the nearest $50,000 to you, perhaps you need to realise many people on here have much less than that as their total moving fund....but harp on how hard life is won't you.
I concur...
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Old Feb 19th 2013, 7:40 pm
  #64  
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Default Re: Currency

Originally Posted by simonsi View Post
???? I think the stupidity is a bit closer to home, bullion is like money itself, do you seriously want to pay GST on NZD that you bought with your GBP?? Pay GST on GBP if you go back to the UK....nonsense.

Its getting a bit tiresome to keep hearing how much a certain FX rate shift means to the nearest $50,000 to you, perhaps you need to realise many people on here have much less than that as their total moving fund....but harp on how hard life is won't you.
But Genesis is right in so far that he points out that the NZ government doesn't care about stable and low food prices (other governments do care).

And I don't mind if Genesis talks about his life here. I would really prefer it if people would stop trying to censor others and just let them speak.
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Old Feb 19th 2013, 7:44 pm
  #65  
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Default Re: Currency

Originally Posted by Assanah View Post
But Genesis is right in so far that he points out that the NZ government doesn't care about stable and low food prices (other governments do care).

And I don't mind if Genesis talks about his life here. I would really prefer it if people would stop trying to censor others and just let them speak.
I'm sure his other posts are valid but to want GST on bullion purchases is just crazy.

I'm all for free speech, with it comes the free right-of-reply.

Touche?
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Old Feb 19th 2013, 8:06 pm
  #66  
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Default Re: Currency

Let's not derail a perfectly good topic by letting the personal jibes creep in please . There is absolutely no need.

Exchange rates are relevant to shed loads of hopeful migrants and expats alike. Young or older. If one has money to move , then it matters.

Pomdownunder - you may like to consider writing a BE article or start an NZ BE thread on the subject of buying and selling bullion. This would be daunting for most .



ps : FWIW . I would like to see GST on food removed for the benefit of all. That's a subject for another thread though.
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Old Feb 19th 2013, 8:14 pm
  #67  
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Default Re: Currency

Originally Posted by Woodlea View Post
You sound like a spoilt brat / ungrateful child, NZ has been bloody good to you, enabling you to be mortgage free and a stay at home dad - get over it!
To be fair, that's a bit harsh. I didn't read it as Genesis was having a moan about his situation but rather reflecting on what it's like for others who aren't in a strong financial position.

In the past when the housing market was strong in the UK a migrant often funded their move abroad with the equity from their house sales. In some cases it really helped give a leg up to folk in their new country. That doesn't seem to be the case as much these days and I've noticed a growing trend in newer BE members having to rent out their houses in the UK (because they either can't sell them or don't have enough equity) and therefore not having as much money to move abroad, so getting a good FX rate is a lot more important in stretching ones limited resources, because they need a cushion when you move.
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Old Feb 19th 2013, 8:32 pm
  #68  
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Default Re: Currency

Originally Posted by Sue View Post
To be fair, that's a bit harsh. I didn't read it as Genesis was having a moan about his situation but rather reflecting on what it's like for others who aren't in a strong financial position.

In the past when the housing market was strong in the UK a migrant often funded their move abroad with the equity from their house sales. In some cases it really helped give a leg up to folk in their new country. That doesn't seem to be the case as much these days and I've noticed a growing trend in newer BE members having to rent out their houses in the UK (because they either can't sell them or don't have enough equity) and therefore not having as much money to move abroad, so getting a good FX rate is a lot more important in stretching ones limited resources, because they need a cushion when you move.
I'm with simonsi on this one

"I'm all for free speech, with it comes the free right-of-reply."
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Old Feb 19th 2013, 8:33 pm
  #69  
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Default Re: Currency

Originally Posted by Woodlea View Post
I'm with simonsi on this one

"I'm all for free speech, with it comes the free right-of-reply."
Indeed, but lets be nice when we do it {{{group hug }}}
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Old Feb 19th 2013, 9:02 pm
  #70  
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Default Re: Currency

I'm interested in the bullion debate but don't want to offend anyone. I moved here with nothing in my 30's (nov 2012) and receive a weekly pension from the UK and although index linked, tax free, it's getting hammered by sterlings race to the bottom. I'd just been mulling over the idea of stopping the pension in NZ, saving it in sterling, buying some bullion (probably 200g a year so not much weight in the luggage) and bringing it back next time I visit family. Or am I wasting my time and better to take the hit?
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Old Feb 19th 2013, 9:51 pm
  #71  
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Default Re: Currency

Originally Posted by BEVS View Post
Pomdownunder
Geez, Bev! You and I both joined this forum the same month, same year! You'd think you know my name by now!

A thread on bullion buying - well, I'm no expert. I just see currencies going the 'Weimar' way: i.e. not worth the paper they're written on, and I look for ways to put MY hard earned dosh into something which will hold it's value beyond any currencies collapse.

This is what the rich people are doing - bullion and real estate. While it's a little difficult to squirrel a couple of hundred acres of prime farmland into the suitcase, a couple of ounces / kilos of gold or silver doesn't take up much room. In fact, you could buy (for example) a single gold Canadian Maple Leaf, that is 9999 fine (99.99% pure) and weighs a troy ounce (just over 31 ounces to the kilogram), and is worth just over a grand sterling, or just over two grand NZ according to http://www.goldprice.org/gold-prices...ld-Prices.html, as I'm writing this.

It's a piece of cake to put one or two of those into plactic pouches and pop them into your pocket.

Now, a proviso - you WILL lose money if you buy and sell like this quickly. There is a premium on both buying and selling gold and silver. It's the dealer's commission, so they make money no matter which way the prices go. You will have to buy gold / silver LONG TERM. I'm talking at least until the end of the year, possibly until the end of 2014 before looking to sell.

And my own personal disclaimer - I'm no professional. This is what I have chosen to do. It's not advice to anyone. Do your own homework, and if you decide to go this route, good luck. I'm buying Canadian Silver Maples, as they are possibly the most easily recognised and traded of the silver coins, and my personal opinion is that silver is presently undervalued. Historically gold to silver value ratio has been 16:1 for many years. Now it's about 40:1 or more. If/when silver comes back into it's own then I expect to make a tidy profit, but like I said, that's MY decision, and I'm putting MY money where my mouth is.
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Old Feb 19th 2013, 10:19 pm
  #72  
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Default Re: Currency

Originally Posted by BEVS View Post
FWIW . I would like to see GST on food removed for the benefit of all. That's a subject for another thread though.
Agreed - GST is a stealth tax - it's tax on top of tax! You first lose bundles via the Income Tax you pay, then you get taxed on that ALREADY TAXED money when you pay GST.

How much is the 'real' percentage of your earnings that go in the various taxes and duties, like petrol duty? 50%? 60%? More? It's WAY too much, whichever way you look at it.
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Old Feb 19th 2013, 10:36 pm
  #73  
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Default Re: Currency

Originally Posted by simonsi View Post
I'm sure his other posts are valid but to want GST on bullion purchases is just crazy.

I'm all for free speech, with it comes the free right-of-reply.

Touche?
Yeah, free speech but some of you get personal, eh? Its not on and is what really pisses me off about this site. Some of you are way too bloody judgemental. I did have a spat back at you that had a personal dig at me but decided not to go to behave like you that do. Why not put me on ignore if you feel I irritate you so much that you get vindictive?
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Old Feb 19th 2013, 11:00 pm
  #74  
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Default Re: Currency

Originally Posted by simonsi View Post
I'm sure his other posts are valid but to want GST on bullion purchases is just crazy.

I'm all for free speech, with it comes the free right-of-reply.

Touche?
Touche it is not. I have no problems with a open discussion but stay on the topic. There was no need to add the second sentence about 'tiresome'.
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Old Feb 19th 2013, 11:28 pm
  #75  
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Default Re: Currency

Originally Posted by Assanah View Post
Touche it is not. I have no problems with a open discussion but stay on the topic. There was no need to add the second sentence about 'tiresome'.
thank you for your kind words.
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