Our PM Jacinda Ardern (and the government)

To post in this sub-forum you must have made 100 posts or have Trust status or have completed our ID Verification

Forums › Politics › Our PM Jacinda Ardern (and the government)

1 | ... | 94 | 95 | 96 | 97 | 98 | 99 | 100 | 101 | 102 | 103 | 104 | ... | 118

3428 posts

Uber Geek
+1 received by user: 3756

Subscriber

#3011581 18-Dec-2022 16:45

Technofreak:

I'm struggling to fathom how quoting my reply has anything to do with being a landlord. Two very different discussions.

I agree on the issues you raise of being a landlord. However I think there are ways to deal with taxation on upgrades and depreciation. You might need a different accountant.

BOTH are businesses

One does not get to deduct legitimate business expenses.

Technofreak

6657 posts

Uber Geek
+1 received by user: 3477

Trusted

#3011632 18-Dec-2022 17:32

sir1963:

Technofreak:

I'm struggling to fathom how quoting my reply has anything to do with being a landlord. Two very different discussions.

I agree on the issues you raise of being a landlord. However I think there are ways to deal with taxation on upgrades and depreciation. You might need a different accountant.

BOTH are businesses

One does not get to deduct legitimate business expenses.

Let's just wind this back. You've introduced the trials and tribulations of landlords to the discussion after I replied to this statement from you.

Businesses should only be able to claim back the actual tax that was paid in PAYE for an employee, or claim back 30% which ever is the least.

For example someone on part time earning 14K a year will pay 10.5% PAYE or $1470 p.a

Currently the business can deduct that wage at 30%, ie $4,200

If the deduction was limited to the $1470 of actual PAYE tax paid then the tax system would be better off by $2730.

In effect every other tax payer is subsiding employers of low wage earners. Then on top of this the tax payer then pays out for accommodation supplements etc etc etc for these low income earners. They are in essence tax negative.

Effectively you were saying a business was deducting the costs of the tax on wages (10.5%) paid to staff wages at a rate of 30% against the business taxes. I said that isn't correct and that a business pays tax on their profits (income less expenses). In other words they pay 30% of their profit in tax. They don't get to claim anything against the tax they pay.

Now back to your claims about a landlord not being able to claim legitimate expenses. Not true. This from the IRD website.

The expenses you can deduct from your rental income are:

- - the cost of insuring your rental property
  - the rates for the property
  - payments to agents who collect rent, maintain your rental, or find tenants for you
  - fees paid to an accountant for managing accounts, preparing tax returns and advice
  - repair and maintenance costs
  - fees for arranging a mortgage to finance the rental property
  - fees for drawing up a tenancy agreement
  - the cost of getting a valuation required to get a mortgage, but not insurance valuations
  - the costs of taking legal action to recover unpaid rent
  - the costs for evicting a tenant
  - depreciation on capital expenses
  - travel expenses for travelling to inspect your property or to do repairs
  - legal fees involved in buying a rental property, as long as the expense is $10,000 or less.

Sure as you said you cannot claim capital expenses, but neither can any other business, BUT you can claim depreciation on those expenses.

Sony Xperia XA2 running Sailfish OS. https://sailfishos.org The true independent open source mobile OS
Samsung Galaxy Tab S6
Dell Inspiron 14z i5

GV27

5978 posts

Uber Geek
+1 received by user: 4212

#3011872 19-Dec-2022 06:56

There are plenty of business expenses that are limited in nature to some degree. E.g. Thin Cap, the entertainment regime, set mileage rates etc.

And I mean business expenses, not "look-through company that has a single asset, is literally never cashflow positive, posts no profit after deducting financing costs and then makes a huge supposedly incidental tax-free gain when it sells said asset", which was an absolute rort.

sir1963

3428 posts

Uber Geek
+1 received by user: 3756

Subscriber

#3011926 19-Dec-2022 10:49

GV27:

There are plenty of business expenses that are limited in nature to some degree. E.g. Thin Cap, the entertainment regime, set mileage rates etc.

And I mean business expenses, not "look-through company that has a single asset, is literally never cashflow positive, posts no profit after deducting financing costs and then makes a huge supposedly incidental tax-free gain when it sells said asset", which was an absolute rort.

What business is that ?

I know its not being a landlord, I have been paying taxes for years. Oh, and I also pay ACC on it too.

And there is NO capital gains in NZ except for landlords. Last year the average farmer made 800k capital gains, also every private home owner had capital gains for the last 10+ years, all tax free.

And as a business, I will take 70% of the profits over 70% of the losses any day of the week.

marmel

1924 posts

Uber Geek
+1 received by user: 226

ID Verified

Trusted

#3012068 19-Dec-2022 16:48

Youth criminals 'out of control' says top cop as police shot at, homes and shops invaded | Stuff.co.nz

On the one hand it's refreshing to see Police actually stating the obvious, this is getting out of control. On the other, this is going to heap more pressure on Labour, no more softly softly talk from the Commissioner, I can guarantee the thoughts of this District Commander would be the consensus amongst the frontline staff.

tdgeek

30048 posts

Uber Geek
+1 received by user: 9455

Trusted

Lifetime subscriber

#3012091 19-Dec-2022 18:16

marmel:

Youth criminals 'out of control' says top cop as police shot at, homes and shops invaded | Stuff.co.nz

On the one hand it's refreshing to see Police actually stating the obvious, this is getting out of control. On the other, this is going to heap more pressure on Labour, no more softly softly talk from the Commissioner, I can guarantee the thoughts of this District Commander would be the consensus amongst the frontline staff.

Has Labour reduced policing and laws and sentences? I may have missed that...

Lenovo

Shop now for Lenovo laptops and other devices (affiliate link).

marmel

1924 posts

Uber Geek
+1 received by user: 226

ID Verified

Trusted

#3012093 19-Dec-2022 18:21

tdgeek:
marmel:

Youth criminals 'out of control' says top cop as police shot at, homes and shops invaded | Stuff.co.nz

On the one hand it's refreshing to see Police actually stating the obvious, this is getting out of control. On the other, this is going to heap more pressure on Labour, no more softly softly talk from the Commissioner, I can guarantee the thoughts of this District Commander would be the consensus amongst the frontline staff.

Has Labour reduced policing and laws and sentences? I may have missed that...

You might have missed Labour doing sweet FA as well then whilst this issue grew and grew.

GV27

5978 posts

Uber Geek
+1 received by user: 4212

#3012135 20-Dec-2022 06:28

sir1963:

And there is NO capital gains in NZ except for landlords. Last year the average farmer made 800k capital gains, also every private home owner had capital gains for the last 10+ years, all tax free.

Any property bought with the intention of resale has always been subjected to tax on gains upon disposal.

We had years of residential investors selling properties that were never cashflow-positive and never would be for huge capital gains that were apparently just totally coincidental. It was just blatant piss-taking. I'm glad the bright line put a stop to it.

sen8or

1897 posts

Uber Geek
+1 received by user: 1402

#3012140 20-Dec-2022 07:53

tdgeek:

marmel:

Youth criminals 'out of control' says top cop as police shot at, homes and shops invaded | Stuff.co.nz

On the one hand it's refreshing to see Police actually stating the obvious, this is getting out of control. On the other, this is going to heap more pressure on Labour, no more softly softly talk from the Commissioner, I can guarantee the thoughts of this District Commander would be the consensus amongst the frontline staff.

Has Labour reduced policing and laws and sentences? I may have missed that...

For me, it started with the anti-smacking law and has only gotten worse since.

We have kids being returned to "whanau" as somehow, the home conditions that saw them get into a life of crime is seen as a better environment able to provide "wrap around services" than actual consequences for their actions. What a crock of excrement.

Too much attention is given to the why, why is completely irrelevant when a crime has been committed, there is a victim whose life may be shattered as a result of criminal actions, criminal actions should be punished.

I am just waiting for the day when one of these young delights tries it on with the wrong store owner on the wrong day and winds up wearing a cricket bat, I can hear the sob stories now.....

Rikkitic

Awrrr
19071 posts

Uber Geek
+1 received by user: 16319

Lifetime subscriber

#3012162 20-Dec-2022 09:06

sen8or:

For me, it started with the anti-smacking law and has only gotten worse since.

We have kids being returned to "whanau" as somehow, the home conditions that saw them get into a life of crime is seen as a better environment able to provide "wrap around services" than actual consequences for their actions. What a crock of excrement.

Too much attention is given to the why, why is completely irrelevant when a crime has been committed, there is a victim whose life may be shattered as a result of criminal actions, criminal actions should be punished.

I am just waiting for the day when one of these young delights tries it on with the wrong store owner on the wrong day and winds up wearing a cricket bat, I can hear the sob stories now.....

Your statements on this subject make a lot of high-strung assumptions. Can you actually document any of your claims or is all of this just a lot of steam? I am not defending any criminals and I know dairy owners have it tough. I don't understand why they can't at least have defensive weapons like tasers but jumping up and down screeching about it doesn't add anything. My understanding is that youth crime has actually reduced, in spite of the dramatic violent incidents that grab all the attention. I also am not aware of any connection between the anti-smacking law and youth crime. You can get emotional all you like about this, but unless your opinions are based on fact, you are not contributing anything.

Plesse igmore amd axxept applogies in adbance fir anu typos

tdgeek

30048 posts

Uber Geek
+1 received by user: 9455

Trusted

Lifetime subscriber

#3012177 20-Dec-2022 09:22

sen8or:

For me, it started with the anti-smacking law and has only gotten worse since.

We have kids being returned to "whanau" as somehow, the home conditions that saw them get into a life of crime is seen as a better environment able to provide "wrap around services" than actual consequences for their actions. What a crock of excrement.

Too much attention is given to the why, why is completely irrelevant when a crime has been committed, there is a victim whose life may be shattered as a result of criminal actions, criminal actions should be punished.

I am just waiting for the day when one of these young delights tries it on with the wrong store owner on the wrong day and winds up wearing a cricket bat, I can hear the sob stories now.....

Hard to disagree. But I dont see it started with the anti smacking law. Society as a whole has and is going through a massive PC movement. You cannot have a playground unless it complies with a large number of safety laws, to stop a kid getting a bruise. Its everywhere. The lack of consequences for young offenders is just part of this PC movement. Many people have a free reign to offend. I knew a high school teacher, he took 6 months stress leave. Kids just give him a one finger salute and walk off laughing. When we allow society to go to this extreme, and be largely immune to consequences, this is what we end up with

Geekzone

Want to support Geekzone and browse the site without the ads? Subscribe to Geekzone now (monthly, annual and lifetime options).

marmel

1924 posts

Uber Geek
+1 received by user: 226

ID Verified

Trusted

#3012183 20-Dec-2022 09:37

Rikkitic:

sen8or:

For me, it started with the anti-smacking law and has only gotten worse since.

We have kids being returned to "whanau" as somehow, the home conditions that saw them get into a life of crime is seen as a better environment able to provide "wrap around services" than actual consequences for their actions. What a crock of excrement.

Too much attention is given to the why, why is completely irrelevant when a crime has been committed, there is a victim whose life may be shattered as a result of criminal actions, criminal actions should be punished.

I am just waiting for the day when one of these young delights tries it on with the wrong store owner on the wrong day and winds up wearing a cricket bat, I can hear the sob stories now.....

Your statements on this subject make a lot of high-strung assumptions. Can you actually document any of your claims or is all of this just a lot of steam? I am not defending any criminals and I know dairy owners have it tough. I don't understand why they can't at least have defensive weapons like tasers but jumping up and down screeching about it doesn't add anything. My understanding is that youth crime has actually reduced, in spite of the dramatic violent incidents that grab all the attention. I also am not aware of any connection between the anti-smacking law and youth crime. You can get emotional all you like about this, but unless your opinions are based on fact, you are not contributing anything.

After a steady decline over a number of years youth crime is increasing, driven mainly by high level offending in Auckland/Hamilton.

sir1963

3428 posts

Uber Geek
+1 received by user: 3756

Subscriber

#3012207 20-Dec-2022 10:11

GV27:

sir1963:

And there is NO capital gains in NZ except for landlords. Last year the average farmer made 800k capital gains, also every private home owner had capital gains for the last 10+ years, all tax free.

Any property bought with the intention of resale has always been subjected to tax on gains upon disposal.

We had years of residential investors selling properties that were never cashflow-positive and never would be for huge capital gains that were apparently just totally coincidental. It was just blatant piss-taking. I'm glad the bright line put a stop to it.

Yes the intent is important, and that has always been stressed to me by my accountant.

And it applies to other things too.

Shares, if your intent is to buy and sell the you are a trader and must pay tax

If you buy 2nd hand good with the intention to sell then you also pay tax but should be registered as a 2bd hand dealer

Sell more than 3(?) cars in a year and you must be a registered auto dealer and pay tax

Replace a plug on the neighbours power cord for free, thats OK, accept any form of payment (even a cup of tea) and you need to be registered

sir1963

3428 posts

Uber Geek
+1 received by user: 3756

Subscriber

#3012209 20-Dec-2022 10:14

marmel:

After a steady decline over a number of years youth crime is increasing, driven mainly by high level offending in Auckland/Hamilton.

Yes, spikes are a normal thing in any kind of data, they do not however indicate a trend.

Ever consider this is a result of covid issues rather than not being able to hit your kids ?

marmel

1924 posts

Uber Geek
+1 received by user: 226

ID Verified

Trusted

#3012216 20-Dec-2022 10:22

sir1963:

marmel:

After a steady decline over a number of years youth crime is increasing, driven mainly by high level offending in Auckland/Hamilton.

Yes, spikes are a normal thing in any kind of data, they do not however indicate a trend.

Ever consider this is a result of covid issues rather than not being able to hit your kids ?

I have never mentioned hitting any kids, I think you are referring to a different GZ member. The reality is things are quickly reaching crisis point, it may take another murder or perhaps a young offender being shot by Police before the government spring into action. The Police association this morning released a statement outlining how desperate things have become, Police in Hamilton being shot at and now being armed fulltime mixed with kids driving around in stolen vehicles, some with stolen firearms, is not a good mix.

1 | ... | 94 | 95 | 96 | 97 | 98 | 99 | 100 | 101 | 102 | 103 | 104 | ... | 118