SaltyNZ: In other words, they won't.

HelloThere: 

The rich don't get rich by giving away money.

Unless if the money is not theirs (eg - tax breaks) where everyone else pays for it and the rich benefit.

quickymart:

 

Strange, I'm currently renting but I don't really feel "grateful", nor do I like thanking him. Might be because my rent goes up next week.

 

And my tenants have not had rent increases in years.

But meantime Rates have gone up, insurance has gone up, compliance has gone up, accountant fees have gone up, interest rates went up, etc etc.

Interest deduction will not mean much to me,  it would mean a delay in any increases at best.

michaelmurfy:

 

HelloThere: 

The rich don't get rich by giving away money.

 

Unless if the money is not theirs (eg - tax breaks) where everyone else pays for it and the rich benefit.

 

Tax breaks ?????

Its a legitimate business deduction that EVERY business gets.

Let me know when all the tax payer benefits others get should be removed too...early child care subsidy, free kids Drs visits, Free kids dental, family tax subsidies, maternity care... all things you (and I ) deem acceptable.

Do you think Tradies should get taxed more because they can get stuff for their own homes at trade prices and not have to pay for labour ? Homeowners can't ...its obviously unfair.

Tradies can deduct their tools, work vehicles, power, insurance, home office, petrol, insurances, etc etc etc etc too even though they are already buying most of it at a cheaper price than you can.

They can deduct the cost of software, get a new computer every 4 years and deduct that too.

Businesses (including landlords) pay ACC levies so people playing sports, car accidents, etc etc can get payouts when injured....

Meantime the disabled will ALWAYS be worse off than you, financially , accommodation wise, medically, mental health wise, they get abused by "good hard working people".

Life has NEVER been fair, nor has it claimed it should be.

sir1963:

 

michaelmurfy:

 

Unless if the money is not theirs (eg - tax breaks) where everyone else pays for it and the rich benefit.

 

 

Tax breaks ?????

 

Its a legitimate business deduction that EVERY business gets.

 

Let me know when all the tax payer benefits others get should be removed too...early child care subsidy, free kids Drs visits, Free kids dental, family tax subsidies, maternity care... all things you (and I ) deem acceptable.

 

Do you think Tradies should get taxed more because they can get stuff for their own homes at trade prices and not have to pay for labour ? Homeowners can't ...its obviously unfair.

 

Tradies can deduct their tools, work vehicles, power, insurance, home office, petrol, insurances, etc etc etc etc too even though they are already buying most of it at a cheaper price than you can.

 

They can deduct the cost of software, get a new computer every 4 years and deduct that too.

 

Businesses (including landlords) pay ACC levies so people playing sports, car accidents, etc etc can get payouts when injured....

 

Meantime the disabled will ALWAYS be worse off than you, financially , accommodation wise, medically, mental health wise, they get abused by "good hard working people".

 

 

 

Life has NEVER been fair, nor has it claimed it should be.

 

So in summary life isn't fair but so long as you get yours it's all good.

sir1963:

 

Tax breaks ?????

 

Its a legitimate business deduction that EVERY business gets.

 

Is it legitimate? Yes.

Is there any other type of business that gets the same levels of access to financing, has a single income-generating asset that it runs at a cashflow deficit which is then usually sold for a tax free gain before the business itself ever turns a profit? No. 

As for 'it wasn't fair' that landlords got singled out for having a deduction denied, the entire tax system is governed by the principle that waged workers can't claim expenses despite doing the exact same job that contractors do. Our tax system is also full of plenty of rules that limit deductions (entertainment, thin cap, etc) so this also isn't a new thing either. 

I still prefer the argument that one house being used as a family home shouldn't generate a tax credit for the owners while the exact same house next door being used in exactly the same way doesn't due to the people who actually live in it owning it. One ends up underwriting the financing costs for the other. 

Handle9:

 

So in summary life isn't fair but so long as you get yours it's all good.

 

Do you have that same belief when it comes to our sports teams ?
My handicapped son would love to play for the All Blacks and make a huge income just playing a game.

You know nothing about me, but yes, I am entitled to what I have, my life choices were good ones.
And you have no idea how much I have put back into the communities I have lived in with voluntary work.

I feel entitled to what I HAVE, not what someone else has.

sir1963:

Handle9:

So in summary life isn't fair but so long as you get yours it's all good.

 

Do you have that same belief when it comes to our sports teams ?
My handicapped son would love to play for the All Blacks and make a huge income just playing a game.

You know nothing about me, but yes, I am entitled to what I have, my life choices were good ones.
And you have no idea how much I have put back into the communities I have lived in with voluntary work.

I feel entitled to what I HAVE, not what someone else has.

Handle9:

Yes you’ve made it clear at length about your feelings of entitlement. At least it’s somewhat on topic for this thread.

as have you.

sir1963:

 

Handle9:

Yes you’ve made it clear at length about your feelings of entitlement. At least it’s somewhat on topic for this thread.

 

 

 

as have you.

 

Chill, fellas.

sir1963:

 

Tax breaks ?????

 

Its a legitimate business deduction that EVERY business gets.

 

And we used to have LAQC's but policy moved on.  Out of interest did you ever make use of this manifestly unfair vessel?  Another other option is to massively oversupply the market then your investment really would be up the creek.

itxtme:

 

sir1963:

 

Tax breaks ?????

 

Its a legitimate business deduction that EVERY business gets.

 

 

And we used to have LAQC's but policy moved on.  Out of interest did you ever make use of this manifestly unfair vessel?  Another other option is to massively oversupply the market then your investment really would be up the creek.

 

Yep, I did have an LAQC. Now losses are held over and taken against future profits. 

Lots of hair dresses , lawn mowing businesses, arts/craft makers, domestic cleaners, and others working from home had them too, as did a friend who plays the organ at funerals. Basically anyone who had a small work from home business had an LAQC. They all STILL claim for home office expenses etc etc etc. The smart ones also have trusts so if the businesses goes broke their home is still protected.

The builder I use for repairs has his "workshop" at home, claims for that (mortgage, power, insurance , etc etc etc on a percentage basis). Gets depreciation on his work vehicles, claims the GST back on everything he uses including petrol, gets trade rates from all sorts of wholesalers that are not his trade related (plumbing, electrical, etc).

Yet to hear about a beef/sheep farmer paying for meat. We got 1/2 a beast that had been butchered because the workers were entitled to one each, each year, cost us less than 1/2 the price of supermarket meat.

But, as my Dad said...if it's so great, you do it, nothing is stopping you having a go. I know a number of people who set up a business who lived of their wife's income until they got established. Some even got housing assistance, community services card, etc, etc because their home income was so low.

If you spent less time worrying about what others are doing, you will have more time thinking about what you could do to improve your lot.

sir1963:

 

Lots of hair dresses , lawn mowing businesses, arts/craft makers, domestic cleaners, and others working from home had them too, as did a friend who plays the organ at funerals. Basically anyone who had a small work from home business had an LAQC. They all STILL claim for home office expenses etc etc etc. The smart ones also have trusts so if the businesses goes broke their home is still protected.

 

The builder I use for repairs has his "workshop" at home, claims for that (mortgage, power, insurance , etc etc etc on a percentage basis). Gets depreciation on his work vehicles, claims the GST back on everything he uses including petrol, gets trade rates from all sorts of wholesalers that are not his trade related (plumbing, electrical, etc).

 

But, as my Dad said...if it's so great, you do it, nothing is stopping you having a go. I know a number of people who set up a business who lived of their wife's income until they got established. Some even got housing assistance, community services card, etc, etc because their home income was so low.

 

If you spent less time worrying about what others are doing, you will have more time thinking about what you could do to improve your lot.

 

This is why I cant take you seriously, because your attitude is so inward you cannot fathom why the IRD got rid of them.  At least now assumedly you will have to pay some PAYE.  

https://www.1news.co.nz/2024/03/13/major-workplace-and-public-holiday-changes-signalled-by-govt/

Not sure what changes they are planning, but doubt it will be good for workers.

With overtime etc with relevant daily pay, I get a few extra dollars an hour when on holiday. Hope by simplifying they don’t mean just get hourly rate when on holiday.

"

She also criticised the previous government in her speech, saying that “policies that were meant to benefit workers have only added to business uncertainty and the costs of doing business.”

She cited the minimum wage increase, the introduction of Matariki as a public holiday, and doubling of sick leave entitlements as examples."

Meant to benefit workers, not sure why statement was preceded with word meant, workers have benefited from those things mentioned as examples.

rugrat:

 

https://www.1news.co.nz/2024/03/13/major-workplace-and-public-holiday-changes-signalled-by-govt/

 

 

 

Not sure what changes they are planning, but doubt it will be good for workers.

 

The previous National government couldn't figure out how to fix it without hurting entitlements to workers. The Act party probably has no problem with that.