Where does the money for National promises come from?

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Forums › Politics › Where does the money for National promises come from?

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GV27

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#2568984 21-Sep-2020 09:38

Handle9:

You'd need to move the Australian limits down ~30% to have a similar tax system to Australia. Australia's median wage is ~30% higher than NZ so they are able to get the tax take they need with higher thresholds.

Frankly that seems like less of an issue - but there would be an interesting discussion to have about how a lower/zero % threshold plays nicely with WFFTC. It's probably something best done sooner rather than later.

As for National's Budget snaffu... it would be funny if it wasn't so sad.

MikeAqua

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#2568990 21-Sep-2020 09:47

Rikkitic:

MikeAqua:

I'm in the 2% too. If taxes are increased I plan to sacrifice some salary for an extra weeks leave every year (reducing my overall tax contribution despite the tax increase). I can recoup that income by: -

- Ceasing charitable donations;

- Increasing rental revenue (I haven't reviewed rents since Labour's last changes to the Tenancy Act);

- Deferring nice-to-do rental maintenance;

- Stop paying someone to clean our house;

The net effect will be that I'll have more money in my hand and I'll pay less tax despite the increased rate.

I have to wonder what the point of your post is.

That I can avoid any tax increase quite easily and I'll be no worse off, but some other people will be as a result.

Mike

Handle9

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#2571394 21-Sep-2020 15:52

GV27:

Handle9:

You'd need to move the Australian limits down ~30% to have a similar tax system to Australia. Australia's median wage is ~30% higher than NZ so they are able to get the tax take they need with higher thresholds.

Frankly that seems like less of an issue - but there would be an interesting discussion to have about how a lower/zero % threshold plays nicely with WFFTC. It's probably something best done sooner rather than later.

As for National's Budget snaffu... it would be funny if it wasn't so sad.

I don't know but I suspect that what you are proposing would significantly lower the tax take.

The amount of tax collected is a massive issue. Don't collect enough and you have to dramatically cut spending.

Handle9

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#2571400 21-Sep-2020 16:00

MikeAqua:

Rikkitic:

I have to wonder what the point of your post is.

That I can avoid any tax increase quite easily and I'll be no worse off, but some other people will be as a result.

You just need to stop wasting the $25 a week on smokes and booze.

Rikkitic

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#2571401 21-Sep-2020 16:05

Handle9:

You just need to stop wasting the $25 a week on smokes and booze.

A week!? If he's a smoker, it will be a hell of lot more than $25 a week. More like $25 a day! It must be less where you are.

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Handle9

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#2571405 21-Sep-2020 16:14

Rikkitic:

Handle9:

You just need to stop wasting the $25 a week on smokes and booze.

A week!? If he's a smoker, it will be a hell of lot more than $25 a week. More like $25 a day! It must be less where you are.

I guess you missed the facetious nature of my comment, which is generally directed at beneficiaries.

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Fred99

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#2571416 21-Sep-2020 16:25

Handle9:

Rikkitic:

A week!? If he's a smoker, it will be a hell of lot more than $25 a week. More like $25 a day! It must be less where you are.

I guess you missed the facetious nature of my comment, which is generally directed at beneficiaries.

But you're in the UAE? Google tells me that a pack of smokes costs ~ NZ$3.50 there.

Handle9

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#2571418 21-Sep-2020 16:29

Only the expensive ones

Handle9

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#2571419 21-Sep-2020 16:31

To be fair a pint typically costs $15-20 here and I don't smoke.

MikeAqua

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#2571866 22-Sep-2020 11:01

Handle9:

You just need to stop wasting the $25 a week on smokes and booze.

I don't smoke, but I could spend less on booze too.

Mike

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#2572973 23-Sep-2020 16:54

This alternative budget mess seems to be getting worse. It seems like horribly rushed policy made up on the fly. To some extent the government is doing the same thing but if you are going to position yourself as better on the economy you need to get this stuff right.

https://www.stuff.co.nz/national/politics/300114608/election-2020-grant-robertson-tells-paul-goldsmith-to-rip-up-nationals-economic-plan-and-start-again

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Handle9

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#2574482 25-Sep-2020 20:36

Aaaaaaand another $2 billion missed. This is almost tragically inept. This one can't even be blamed on lack of time, it's been policy for a while.

https://www.newshub.co.nz/home/politics/2020/09/paul-goldsmith-admits-he-didn-t-account-for-tax-loss-by-axing-super-fund-payments-in-fiscal-plan.amp.html?__twitter_impression=true

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