Go Back  British Expats > Living & Moving Abroad > New Zealand
Reload this Page >

Income Tax Reduction - Any possibility?

Income Tax Reduction - Any possibility?

Old Nov 10th 2011, 12:03 pm
  #1  
BE Enthusiast
Thread Starter
 
Joined: Jun 2008
Posts: 457
msi geek is just really nicemsi geek is just really nicemsi geek is just really nicemsi geek is just really nicemsi geek is just really nicemsi geek is just really nicemsi geek is just really nicemsi geek is just really nicemsi geek is just really nicemsi geek is just really nice
Default 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.
msi geek is offline  
Old Nov 10th 2011, 6:15 pm
  #2  
BE Forum Addict
 
Jan n Neil's Avatar
 
Joined: Mar 2009
Location: Christchurch
Posts: 2,077
Jan n Neil has a reputation beyond reputeJan n Neil has a reputation beyond reputeJan n Neil has a reputation beyond reputeJan n Neil has a reputation beyond reputeJan n Neil has a reputation beyond reputeJan n Neil has a reputation beyond reputeJan n Neil has a reputation beyond reputeJan n Neil has a reputation beyond reputeJan n Neil has a reputation beyond reputeJan n Neil has a reputation beyond reputeJan n Neil has a reputation beyond repute
Default 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).
Jan n Neil is offline  
Old Nov 10th 2011, 7:43 pm
  #3  
you dewty owld maan!
 
Joined: Oct 2005
Location: is practically perfect in every way
Posts: 5,565
lardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond repute
Default 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
lardyl is offline  
Old Nov 11th 2011, 5:15 am
  #4  
HAPPY AS...
 
hazeandsteve's Avatar
 
Joined: May 2006
Location: Taupo
Posts: 1,068
hazeandsteve has a reputation beyond reputehazeandsteve has a reputation beyond reputehazeandsteve has a reputation beyond reputehazeandsteve has a reputation beyond reputehazeandsteve has a reputation beyond reputehazeandsteve has a reputation beyond reputehazeandsteve has a reputation beyond reputehazeandsteve has a reputation beyond reputehazeandsteve has a reputation beyond reputehazeandsteve has a reputation beyond reputehazeandsteve has a reputation beyond repute
Default Re: Income Tax Reduction - Any possibility?

Don't vote.....it only encourages them
hazeandsteve is offline  
Old Nov 11th 2011, 8:23 am
  #5  
BE Forum Addict
 
Bo-Jangles's Avatar
 
Joined: Jun 2005
Location: In a large village called Auckland
Posts: 4,968
Bo-Jangles has a reputation beyond reputeBo-Jangles has a reputation beyond reputeBo-Jangles has a reputation beyond reputeBo-Jangles has a reputation beyond reputeBo-Jangles has a reputation beyond reputeBo-Jangles has a reputation beyond reputeBo-Jangles has a reputation beyond reputeBo-Jangles has a reputation beyond reputeBo-Jangles has a reputation beyond reputeBo-Jangles has a reputation beyond reputeBo-Jangles has a reputation beyond repute
Default Re: Income Tax Reduction - Any possibility?

Labour have mooted a $5,000 tax-free zone and say:

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.
http://www.ownourfuture.co.nz/cost-living

BUT likelihood of them getting voted is seeming highly unlikely.
Bo-Jangles is offline  
Old Nov 11th 2011, 4:08 pm
  #6  
BE Forum Addict
 
Genesis's Avatar
 
Joined: Sep 2006
Posts: 4,282
Genesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond repute
Default Re: Income Tax Reduction - Any possibility?

Originally Posted by hazeandsteve View Post
Don't vote.....it only encourages them
I'm not going to. Labour is a vote to give more to those who don't deserve it and a vote to national and they will sell all the family silver. I am staying at home.
Genesis is offline  
Old Nov 12th 2011, 12:54 am
  #7  
Truth is the safest lie.
 
Charismatic's Avatar
 
Joined: Jul 2008
Location: @ the beach.
Posts: 6,737
Charismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond repute
Default 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.
Charismatic is offline  
Old Nov 13th 2011, 2:08 am
  #8  
you dewty owld maan!
 
Joined: Oct 2005
Location: is practically perfect in every way
Posts: 5,565
lardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond repute
Default Re: Income Tax Reduction - Any possibility?

Originally Posted by Charismatic View Post
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.
Tax income derived from assets not income from work and reduce GST, is my simple minded opinion. However, in the long term this will be a problem as people will then have less incentive to invest in NZ companies, which is what we really need. Better than selling off good government assets though.

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????
lardyl is offline  
Old Nov 13th 2011, 3:42 am
  #9  
Truth is the safest lie.
 
Charismatic's Avatar
 
Joined: Jul 2008
Location: @ the beach.
Posts: 6,737
Charismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond reputeCharismatic has a reputation beyond repute
Smile 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.
Charismatic is offline  
Old Nov 13th 2011, 7:41 am
  #10  
you dewty owld maan!
 
Joined: Oct 2005
Location: is practically perfect in every way
Posts: 5,565
lardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond reputelardyl has a reputation beyond repute
Default 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.
lardyl is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.