Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
To post in this sub-forum you must have made 100 posts or have Trust status or have completed our ID Verification



Filter this topic showing only the reply marked as answer View this topic in a long page with up to 500 replies per page Create new topic
1 | ... | 11 | 12 | 13 | 14 | 15 | 16 | 17
Affiliate link
 
 
 

Affiliate link: You will find anything you want at MightyApe.
tdgeek
26320 posts

Uber Geek

Trusted
Lifetime subscriber

  #2187618 26-Feb-2019 15:19
Send private message

GV27:

 

tdgeek:

 

Can you clarify what you mean with the bolded? 

 

If the birth boost created a larger block of voters, how are they to blame?

 

What did the boomers do in rewriting tax law 1999-2007?

 

Genuinely interested

 

 

Not include a comprehensive capital gains tax then?

 

 

:-) Not quite the lucid reply I normally see from you! I'm keen to hear the details of each point though


networkn
27389 posts

Uber Geek

ID Verified
Trusted
Lifetime subscriber

  #2187635 26-Feb-2019 15:59
Send private message

I am being lazy, but does the proposal allow for reclaiming losses after v-day as a offset on income tax paid? Ie if the housing crash in Aussie comes here around 2021 and houses end up selling for less than they were valued, how is that being dealt with?

 

 


GV27
4226 posts

Uber Geek


  #2187641 26-Feb-2019 16:09
Send private message

tdgeek:

 

:-) Not quite the lucid reply I normally see from you! I'm keen to hear the details of each point though

 

 

TD, this isn't difficult. The same group of people who were able to take advantage of the not-fit-for-purpose tax legislation to make megabucks just happened to be the same cohort of people who were in charge of keeping the tax legislation fit for purpose, but didn't. 

 

The thing is they were all in on it. Even the Greens with their crazy 'private super scheme that owns one investment property that happens to be my house that I also get a parliamentary accommodation supplement to pay the rent on' or however that worked. 




GV27
4226 posts

Uber Geek


  #2187655 26-Feb-2019 16:27
Send private message

(it's the "Nats hate CGT because they own houses" argument, but lazier 😅)


tdgeek
26320 posts

Uber Geek

Trusted
Lifetime subscriber

  #2187668 26-Feb-2019 16:41
Send private message

GV27:

(it's the "Nats hate CGT because they own houses" argument, but lazier 😅)



Rightio. I picked that up , I wasn’t sure if the general baby boomers were to blame also

wsnz
630 posts

Ultimate Geek


  #2188870 28-Feb-2019 14:23
Send private message

Michael Cullen advocated exempting Iwi from CGT last night when interviewed on the news (yes, the one time I've watched it in the last year and it actually had something worthwhile).

 

I'm certain not all of his TWG colleagues would share that view. 


wsnz
630 posts

Ultimate Geek


  #2188874 28-Feb-2019 14:25
Send private message

networkn:

 

I am being lazy, but does the proposal allow for reclaiming losses after v-day as a offset on income tax paid? Ie if the housing crash in Aussie comes here around 2021 and houses end up selling for less than they were valued, how is that being dealt with?

 

 

 

 

That doesn't appear in the report, however I would expect Inland Revenue to issue a ruling (probably a no), then it would be challenged in court. The winners will of course be the lawyers and accountants in all of this. 




gzt

gzt
13603 posts

Uber Geek

Lifetime subscriber

  #2189205 1-Mar-2019 08:38
Send private message

wsnz:

Michael Cullen advocated exempting Iwi from CGT last night when interviewed on the news (yes, the one time I've watched it in the last year and it actually had something worthwhile).


I haven't seen the item but I assume it's not that simple in practice.

GV27
4226 posts

Uber Geek


  #2189779 2-Mar-2019 11:26
Send private message

gzt:
wsnz:

 

Michael Cullen advocated exempting Iwi from CGT last night when interviewed on the news (yes, the one time I've watched it in the last year and it actually had something worthwhile).


I haven't seen the item but I assume it's not that simple in practice.

 

https://www.tvnz.co.nz/one-news/new-zealand/exemption-proposed-capital-gains-tax-could-cards-iwi?variant=tb_v_1

 

To paraphrase Cullen, it's based on 'history'; is done in the name of lifting them out of economic deprivation. 

 

One talking head interviewed suggests taxing the numbers in a bank account could be a treaty breach. 

 

It wouldn't be unknown for the media to find a possibly inflammatory viewpoint but I am not sure I can get my head around that way of thinking. 


gzt

gzt
13603 posts

Uber Geek

Lifetime subscriber

  #2190026 2-Mar-2019 20:11
Send private message

GV27:

gzt:
wsnz:


Michael Cullen advocated exempting Iwi from CGT last night when interviewed on the news (yes, the one time I've watched it in the last year and it actually had something worthwhile).


I haven't seen the item but I assume it's not that simple in practice.


https://www.tvnz.co.nz/one-news/new-zealand/exemption-proposed-capital-gains-tax-could-cards-iwi?variant=tb_v_1


To paraphrase Cullen, it's based on 'history'; is done in the name of lifting them out of economic deprivation. 


One talking head interviewed suggests taxing the numbers in a bank account could be a treaty breach. 


It wouldn't be unknown for the media to find a possibly inflammatory viewpoint but I am not sure I can get my head around that way of thinking. 


Traditional Maori land ownership can be complex. It's possible there are sound reasons for many cases.

Ngati Whatua for example is in a slightly different position. If I recall correctly from a few years ago they have a scheme to build and sell some luxury type housing off their land to fund other development goals.

Imo it may be more sensible for the government to take the opportunity to concretely commit to increased and equitable provision of heath and housing services and things like that which after all the cgt is intended to contribute to.

GV27
4226 posts

Uber Geek


  #2193327 8-Mar-2019 07:24
Send private message

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12209227

 

TD, I am keen to know your thoughts.

 

For my mind, this piece has a some critical flaws but does nicely show that we should tax Kiwisaver on realisation, not on gains as they accrue. 


tdgeek
26320 posts

Uber Geek

Trusted
Lifetime subscriber

  #2193459 8-Mar-2019 10:34
Send private message

GV27:

 

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12209227

 

TD, I am keen to know your thoughts.

 

For my mind, this piece has a some critical flaws but does nicely show that we should tax Kiwisaver on realisation, not on gains as they accrue. 

 

 

Not quite sure of your train of thought. Do you mean tax KS on realisation so they can earn compound growth on the unpaid tax through the period till realisation? 


GV27
4226 posts

Uber Geek


  #2193475 8-Mar-2019 10:52
Send private message

tdgeek:

 

GV27:

 

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12209227

 

TD, I am keen to know your thoughts.

 

For my mind, this piece has a some critical flaws but does nicely show that we should tax Kiwisaver on realisation, not on gains as they accrue. 

 

 

Not quite sure of your train of thought. Do you mean tax KS on realisation so they can earn compound growth on the unpaid tax through the period till realisation? 

 

 

Correct. 


tdgeek
26320 posts

Uber Geek

Trusted
Lifetime subscriber

  #2193509 8-Mar-2019 11:23
Send private message

GV27:

 

tdgeek:

 

GV27:

 

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12209227

 

TD, I am keen to know your thoughts.

 

For my mind, this piece has a some critical flaws but does nicely show that we should tax Kiwisaver on realisation, not on gains as they accrue. 

 

 

Not quite sure of your train of thought. Do you mean tax KS on realisation so they can earn compound growth on the unpaid tax through the period till realisation? 

 

 

Correct. 

 

 

Its an interesting one. 

 

I feel we should tax everything on realisation. We do that for salary and wages, we do that for business income. We can't do that for CGT as we cannot spend paper gains. (Although we could by borrowing against them, thats a problem) Kiwisaver investment earnings is actually not one or the other. The earnings of interest are realised, but as the person has the funds locked up, they aren't realised. CGT  is unrealised as that is locked away.

 

But, Cullen stated that there are a number of measures that nullify the KS CGT? Not for everyone or for every $ but thats the premise of it.

 

It would be far easier to exclude KS investments from CGT, as the end result was planned that these gains would be offset and KS would not be affected. So exclude it so its not affected. 


GV27
4226 posts

Uber Geek


  #2193519 8-Mar-2019 11:41
Send private message

tdgeek:

 

Its an interesting one. 

 

I feel we should tax everything on realisation. We do that for salary and wages, we do that for business income. We can't do that for CGT as we cannot spend paper gains. (Although we could by borrowing against them, thats a problem) Kiwisaver investment earnings is actually not one or the other. The earnings of interest are realised, but as the person has the funds locked up, they aren't realised. CGT  is unrealised as that is locked away.

 

But, Cullen stated that there are a number of measures that nullify the KS CGT? Not for everyone or for every $ but thats the premise of it.

 

It would be far easier to exclude KS investments from CGT, as the end result was planned that these gains would be offset and KS would not be affected. So exclude it so its not affected. 

 

 

I would have thought so too. Instead we've got some extremely weird arrangement where the majority of benefits flow through to people who will be earning less than a 40 hour week and more burden on those earning 70K+. At some point it just becomes change for the sake of change instead of rewarding those legitimately struggling to get ahead. 

 

However I would guess that there is a revenue component to this; the fact the Govt gets to tax gains as they accrue means they have money coming in year on year. It's the only reason I can think of that they'd bother with the political risk of taking such an aggressive approach to Kiwisaver. 

 

 


1 | ... | 11 | 12 | 13 | 14 | 15 | 16 | 17
Filter this topic showing only the reply marked as answer View this topic in a long page with up to 500 replies per page Create new topic





News and reviews »

D-Link G415 4G Smart Router Review
Posted 27-Jun-2022 17:24


New Zealand Video Game Sales Reaches $540 Million
Posted 26-Jun-2022 14:49


Github Copilot Generally Available to All Developers
Posted 26-Jun-2022 14:37


Logitech G Introduces the New Astro A10 Headset
Posted 26-Jun-2022 14:20


Fitbit introduces Sleep Profiles
Posted 26-Jun-2022 14:11


Synology Introduces FlashStation FS3410
Posted 26-Jun-2022 14:04


Intel Arc A380 Graphics First Available in China
Posted 15-Jun-2022 17:08


JBL Introduces PartyBox Encore Essential Speaker
Posted 15-Jun-2022 17:05


New TVNZ+ streaming brand launches
Posted 13-Jun-2022 08:35


Chromecast With Google TV Review
Posted 10-Jun-2022 17:10


Xbox Gaming on Your Samsung Smart TV No Console Required
Posted 10-Jun-2022 00:01


Xbox Cloud Gaming Now Available in New Zealand
Posted 10-Jun-2022 00:01


HP Envy Inspire 7900e Review
Posted 9-Jun-2022 20:31


Philips Hue Starter Kit Review
Posted 4-Jun-2022 11:10


Sony Expands Its Wireless Speaker X-series Range
Posted 4-Jun-2022 10:25









Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.