NZ 2023 Election Thread

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#3121828 30-Aug-2023 11:39

JPNZ:

You maybe missed this part?

"National is promising to:

Inflation adjust income tax brackets.
This would mean income tax brackets would move as inflation moves, delivering tax cuts for all workers - not just families or low income workers."

I did. Annually? Read today that Tova said this was a one off. Thats good news then

invisibleman18

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#3121830 30-Aug-2023 11:41

This is from the document released:

Full document here: https://assets.nationbuilder.com/nationalparty/pages/17859/attachments/original/1693346887/Back_Pocket_Boost.pdf?1693346887

GV27

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#3121831 30-Aug-2023 11:43

invisibleman18:

This is from the document released:

At least once every three years, including in 2026, we will assess the impact inflation has had on the average
tax rates faced by income earners, with a view to making adjustments to tax thresholds that are affordable and
responsible in light of the economic and fiscal conditions at the time.

That should really be automatic. But it's a damn sight better than what we're being offered, which is nothing from Labour. Sadly that is a very low bar.

tdgeek

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#3121836 30-Aug-2023 11:59

with a view to making adjustments to tax thresholds that are affordable and
responsible in light of the economic and fiscal conditions at the time.

So not "Government Guaranteed"

GV27

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#3121837 30-Aug-2023 12:04

tdgeek:

with a view to making adjustments to tax thresholds that are affordable and
responsible in light of the economic and fiscal conditions at the time.

So not "Government Guaranteed"

No, but still better than never which is what we're being asked to live with now. GR is suggesting nothing at all pre-2026 when it comes to tax rates, and the minimum wage level is almost certain to hit the 48K threshold, which is verging on criminal.

At least National is sort of getting ahead of that, but indexation should be automatic tbh.

cruxis

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#3121840 30-Aug-2023 12:14

Running the numbers far out that is a biggest bribe for someone "middle class" like myself. If I dump it into my modest mortgage which I will be doing, I get one hell of a bribe.....What is the catch..

$250.00 a fortnight
Interest saved

$22,360
Time saved

6 years, 2 months
New expected end date

14 Mar 2030

I just have to, not get sick or injured, robbed, and wiped out by climate change😋 etc

tdgeek

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#3121841 30-Aug-2023 12:17

GV27:

No, but still better than never which is what we're being asked to live with now. GR is suggesting nothing at all pre-2026 when it comes to tax rates, and the minimum wage level is almost certain to hit the 48K threshold, which is verging on criminal.

At least National is sort of getting ahead of that, but indexation should be automatic tbh.

Yeah, I get that. All past Govts should have had them indexed. The out clause will probably mean that they get kicked down the road for the reasons they state

End of the day, we probably cannot afford tax cuts even though they are more then due to us, so we will ongoingly reduce Govt spending and services until we can grow our economy. Which we dont really seem to do anyway. We import most of our needs.

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GV27

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#3121843 30-Aug-2023 12:23

tdgeek:

End of the day, we probably cannot afford tax cuts even though they are more then due to us, so we will ongoingly reduce Govt spending and services until we can grow our economy. Which we dont really seem to do anyway. We import most of our needs.

The problem is the populace you're taxing can't afford to not have any tax relief when inflation runs red-hot and pay rises don't keep up.

And the amount we spend on government services doesn't seem to have direct bearing on the quality of the services we actually get.

If that was the case, we should be living like Scandanavian Kings what what Labour has spent in the last three years.

tdgeek

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#3121844 30-Aug-2023 12:23

cruxis:

I just have to, not get sick or injured, robbed, and wiped out by climate change😋 etc

Yep lol. No room for any of that malarky methinks

Thats not a jab at National, NZ is so small its not funny, no minerals to dig out of the ground and sell, its hard work for any Govt. Hence we whine about how many sectors, and affordability that has declined over many decades. Then we have natural disasters to suck up more $

tdgeek

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#3121847 30-Aug-2023 12:25

GV27:

If that was the case, we should be living like Scandanavian Kings what what Labour has spent in the last three years.

In that case, Chris Luxon can fix everything, easily, if its just down to annual billions upon billions of wasted money that he wont do?

GV27

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#3121849 30-Aug-2023 12:29

tdgeek:

In that case, Chris Luxon can fix everything, easily, if its just down to annual billions upon billions of wasted money that he wont do?

That's the spirit, we'll make a believer out of you yet TD 😂

Although to be fair, Grant Robertson did suddenly magic up $4b of savings once we got close to the election and his credibility was on the line, so it's not hard to believe that a sharper knife would find more.

tdgeek

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#3121858 30-Aug-2023 12:45

GV27:

That's the spirit, we'll make a believer out of you yet TD 😂

Although to be fair, Grant Robertson did suddenly magic up $4b of savings once we got close to the election and his credibility was on the line, so it's not hard to believe that a sharper knife would find more.

:-)

Law of Diminishing Returns would make it difficult I expect

ockel

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#3121861 30-Aug-2023 12:52

tdgeek:

Yeah, I get that. All past Govts should have had them indexed. The out clause will probably mean that they get kicked down the road for the reasons they state

End of the day, we probably cannot afford tax cuts even though they are more then due to us, so we will ongoingly reduce Govt spending and services until we can grow our economy. Which we dont really seem to do anyway. We import most of our needs.

Simon Bridges introduced a members bill in 2021 (defeated by Labour) that would have seen indexation every 3 years. Bill English proposed lifting the bottom two thresholds in the 2017 Budget and IIRC intended to index if returned to power in the 2017 election. Its not a new concept just one that doesnt suit the party that represents the worker (sic)

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sen8or

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#3121863 30-Aug-2023 12:57

tdgeek:

GV27:

That's the spirit, we'll make a believer out of you yet TD 😂

Although to be fair, Grant Robertson did suddenly magic up $4b of savings once we got close to the election and his credibility was on the line, so it's not hard to believe that a sharper knife would find more.

:-)

Law of Diminishing Returns would make it difficult I expect

It wouldn't surprise me if that $4bio in savings was by playing around with the margin of error, thats about all they represent....

GV27

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#3121868 30-Aug-2023 13:08

tdgeek:

:-)

Law of Diminishing Returns would make it difficult I expect

Never was a problem for GR when it came to writing cheques.

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