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@jegga said in So we are about to get taxed up a storm!:
It’s up now and it’s awful . This will probably cost them the next election
https://taxworkinggroup.govt.nz/sites/default/files/2019-02/twg-final-report-voli-feb19.pdf
We can only hope
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@jegga said in So we are about to get taxed up a storm!:
It’s up now and it’s awful . This will probably cost them the next election
https://taxworkinggroup.govt.nz/sites/default/files/2019-02/twg-final-report-voli-feb19.pdf
They have to actually action it first. This is just the working groups recommendations and its over to the coalition to decide/in anything to move forward with.
Apparantly many members of the labour party aren't as keen on the idea as they first were
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@Toddy said in So we are about to get taxed up a storm!:
@jegga read already Jegga. Impressive!
Nah , Kiwiblog has the lowlights up. Highest cgt rate in the world and not inflation indexed . Businesses and other taxable asset owners will have to pay to get a valuation that will determine their cgt when they sell .
Madness.
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@JK said in So we are about to get taxed up a storm!:
@jegga said in So we are about to get taxed up a storm!:
It’s up now and it’s awful . This will probably cost them the next election
https://taxworkinggroup.govt.nz/sites/default/files/2019-02/twg-final-report-voli-feb19.pdf
They have to actually action it first. This is just the working groups recommendations and its over to the coalition to decide/in anything to move forward with.
Apparantly many members of the labour party aren't as keen on the idea as they first were
I bet they aren’t , Cullen is such a bitter mad old loon .
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@jegga said in So we are about to get taxed up a storm!:
@JK said in So we are about to get taxed up a storm!:
@jegga said in So we are about to get taxed up a storm!:
It’s up now and it’s awful . This will probably cost them the next election
https://taxworkinggroup.govt.nz/sites/default/files/2019-02/twg-final-report-voli-feb19.pdf
They have to actually action it first. This is just the working groups recommendations and its over to the coalition to decide/in anything to move forward with.
Apparantly many members of the labour party aren't as keen on the idea as they first were
I bet they aren’t , Cullen is such a bitter mad old loon .
I think they all go cuckoo in the head. Like Bolger wanting to change back many of his employment reforms
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@canefan said in So we are about to get taxed up a storm!:
@jegga said in So we are about to get taxed up a storm!:
@JK said in So we are about to get taxed up a storm!:
@jegga said in So we are about to get taxed up a storm!:
It’s up now and it’s awful . This will probably cost them the next election
https://taxworkinggroup.govt.nz/sites/default/files/2019-02/twg-final-report-voli-feb19.pdf
They have to actually action it first. This is just the working groups recommendations and its over to the coalition to decide/in anything to move forward with.
Apparantly many members of the labour party aren't as keen on the idea as they first were
I bet they aren’t , Cullen is such a bitter mad old loon .
I think they all go cuckoo in the head. Like Bolger wanting to change back many of his employment reforms
Cullen was a fluffybunny right from the start , in his maiden speech in parliament he was mocking the farmers that paid for his scholarship . Until Pam Corkery managed to top it Cullens speech was regarded as one of the nastiest/worst ever maiden speeches from an mp.
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@jegga said in So we are about to get taxed up a storm!:
@canefan said in So we are about to get taxed up a storm!:
@jegga said in So we are about to get taxed up a storm!:
@JK said in So we are about to get taxed up a storm!:
@jegga said in So we are about to get taxed up a storm!:
It’s up now and it’s awful . This will probably cost them the next election
https://taxworkinggroup.govt.nz/sites/default/files/2019-02/twg-final-report-voli-feb19.pdf
They have to actually action it first. This is just the working groups recommendations and its over to the coalition to decide/in anything to move forward with.
Apparantly many members of the labour party aren't as keen on the idea as they first were
I bet they aren’t , Cullen is such a bitter mad old loon .
I think they all go cuckoo in the head. Like Bolger wanting to change back many of his employment reforms
Cullen was a fluffybunny right from the start , in his maiden speech in parliament he was mocking the farmers that paid for his scholarship . Until Pam Corkery managed to top it Cullens speech was regarded as one of the nastiest/worst ever maiden speeches from an mp.
Always looked like a swarmy fluffybunny
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@taniwharugby said in So we are about to get taxed up a storm!:
alot of the focus is on CGT, when it should be about adjusting all the tax brackets, given a good portion of 'middle income' NZ is in the top tax bracket.
Interesting comparison to our side:
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@NTA said in So we are about to get taxed up a storm!:
@taniwharugby said in So we are about to get taxed up a storm!:
alot of the focus is on CGT, when it should be about adjusting all the tax brackets, given a good portion of 'middle income' NZ is in the top tax bracket.
Interesting comparison to our side:
Shows how low our top tax rate is here in NZ by international standards
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@Mokey said in So we are about to get taxed up a storm!:
Our tax brackets are fucked up. Anything under 10k shouldn't be taxed at all, but more than that, having 48k taxed at 30% is ridiculous. Once upon a time that was a half decent salary, nowadays with the cost of living, it's barely average.
It presents no incentive to work harder for minimal gain
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@canefan Yeah, there is not much incentive to move above that 48k mark if the next bracket is 30% tax. Net gain is fuck all. That whole bracket is crap. 48k-70k is a goodish pay packet IF you live outside a city or you already own your own home and aren't subject to Wellington or Auckland or Tauranga rents/house prices.
A salary circa 40-45k is basically minimum wage plus a little more. No fucking way should anything in the 40s get taxed at 30%.
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@Mokey ha yep, on $47,000, boss says we can give you a 3% pay rise this year...
Er, no thanks...
After I lost my job 5 years back, the first full time job I did when I came back was $50,000 and she was a struggle, especially as Mrs TR works school hours a shade over min-wage, and she works those hours so we dont have to pay for after-school care.
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@Toddy said in So we are about to get taxed up a storm!:
Why wouldn't you take a pay rise to go to the next tax bracket? It only means every $ after the bracket is taxed at that amount, not the full pay!
You have a point if WfF is in the mix.
Worked with a clown that wouldn’t finish his apprenticeship because he didn’t want his wff cut.
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@Toddy sadly that makes a big difference for household incomes around that level.
When I got a higher paying job I cancelled it straight away and then they checked at end of the tax year if I was entitled to any...nope.
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@taniwharugby yeah, I always advised clients to take the end of year top up if they were entitled to WfF (if they could afford to). Saw many a tear from people who had forgotten to update the IRD regarding their pay and then having to pay it back.
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@Toddy said in So we are about to get taxed up a storm!:
Why wouldn't you take a pay rise to go to the next tax bracket? It only means every $ after the bracket is taxed at that amount, not the full pay!
Lol my lil sister got a pay rise a few years back and pushed her in to the next bracket and she was upset as she had to pay more tax
So we are about to get taxed up a storm!