Income Tax Reduction - Any possibility?
Nov 10th 2011, 12:03 pm
#1
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Income Tax Reduction - Any possibility?
Any possibility of Income Tax Reduction in New Zealand after the elections.
Cost of Living is shockingly HIGH in NZ and the current income rates make matters worse.
Cost of Living is shockingly HIGH in NZ and the current income rates make matters worse.
Nov 10th 2011, 6:15 pm
#2
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Re: Income Tax Reduction - Any possibility?
Income tax was cut at the highest rate about a year ago. Can't see any more cuts. The level of income tax isn't bad here although you do have to pay tax on all your earnings, not just after say $12000. But then you get a rebate if you earn under $48000, ish, (but only if you apply).
Nov 10th 2011, 7:43 pm
#3
you dewty owld maan!
Joined: Oct 2005
Location: is practically perfect in every way
Posts: 5,565
Re: Income Tax Reduction - Any possibility?
You are joking?
Let's have a GST reduction instead......
Was listening to the MP3 player walking back from school and heard:
politicians argue
sharpening their knives
drawing up their bargains
trading baby lives
Food for Thought might be the theme of the election
Let's have a GST reduction instead......
Was listening to the MP3 player walking back from school and heard:
politicians argue
sharpening their knives
drawing up their bargains
trading baby lives
Food for Thought might be the theme of the election
Nov 11th 2011, 5:15 am
#4
HAPPY AS...
Joined: May 2006
Location: Taupo
Posts: 1,068
Re: Income Tax Reduction - Any possibility?
Don't vote.....it only encourages them
Nov 11th 2011, 8:23 am
#5
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Re: Income Tax Reduction - Any possibility?
Labour have mooted a $5,000 tax-free zone and say:
http://www.ownourfuture.co.nz/cost-living
BUT likelihood of them getting voted is seeming highly unlikely.
FIRST, LABOUR WILL CREATE A $5,000 TAX FREE ZONE.
This means the first $5,000 you make in personal income a year – whether you are a worker, a beneficiary, or retired on super – will be tax free.
SECOND, WE WILL TAKE GST OFF ALL FRESH FRUIT AND VEGETABLES.
That gives the average household an extra $160 a year to put back into groceries – and makes the healthiest choices more affordable.
This means the first $5,000 you make in personal income a year – whether you are a worker, a beneficiary, or retired on super – will be tax free.
SECOND, WE WILL TAKE GST OFF ALL FRESH FRUIT AND VEGETABLES.
That gives the average household an extra $160 a year to put back into groceries – and makes the healthiest choices more affordable.
BUT likelihood of them getting voted is seeming highly unlikely.
Nov 12th 2011, 12:54 am
#7
Truth is the safest lie.
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Location: @ the beach.
Posts: 7,243
Re: Income Tax Reduction - Any possibility?
Need to charge more tax to stem the deficit at the moment. You can deficit spend your way through a recession but not a depression.
Nov 13th 2011, 2:08 am
#8
you dewty owld maan!
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Re: Income Tax Reduction - Any possibility?
NZ companies to invest in would be a start though........how many decent sized NZ companies are there that are not a division of an Aussie parent group????
Nov 13th 2011, 3:42 am
#9
Truth is the safest lie.
Joined: Jul 2008
Location: @ the beach.
Posts: 7,243
Re: Income Tax Reduction - Any possibility?
So you would expect business in developed countries with higher tax revenues to be starved of capital? Countries like (tax as % of GDP):
Denmark (49%)
Sweden (47.9%)
Belgium (46.8%)
Norway (43.6%)
Finland (43.6%)
…
New Zealand (34.5%)
Greece (33.5%)
Argentina (22.9%)
See I don’t buy that argument about higher taxes driving investors away from developed economies. In fact quite the opposite, those countries with the best quality of life etc. inevitably charge the highest tax rates. You have to spend money to make money.
Same as the "increasing minimum wages will cost jobs” argument, data doesn’t fit the claim.
Denmark (49%)
Sweden (47.9%)
Belgium (46.8%)
Norway (43.6%)
Finland (43.6%)
…
New Zealand (34.5%)
Greece (33.5%)
Argentina (22.9%)
See I don’t buy that argument about higher taxes driving investors away from developed economies. In fact quite the opposite, those countries with the best quality of life etc. inevitably charge the highest tax rates. You have to spend money to make money.
Same as the "increasing minimum wages will cost jobs” argument, data doesn’t fit the claim.
Nov 13th 2011, 7:41 am
#10
you dewty owld maan!
Joined: Oct 2005
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Re: Income Tax Reduction - Any possibility?
I agree C - was just saying the same thing to one of our Swedish Kiwi friends.
But I can see that there are arguments in our case to free up money for NZ investors to provide capital (either through direct investment or via investment vehicles) to NZ business so we can grow truly beneficial NZ owned & operated companies. That would be better for all of us, by taking heat out of property and putting into productive assets.
But I can see that there are arguments in our case to free up money for NZ investors to provide capital (either through direct investment or via investment vehicles) to NZ business so we can grow truly beneficial NZ owned & operated companies. That would be better for all of us, by taking heat out of property and putting into productive assets.
