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.


View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13
3303 posts

Uber Geek
+1 received by user: 967


  Reply # 1902700 16-Nov-2017 12:53
2 people support this post
Send private message quote this post

Geektastic:

 

It's similar to capital gains tax - it won't change house prices much (see UK and Australia for details....!) but it will make more tax at our expense.

 

 

The lack of a comprehensive capital gains tax does skew investment decisions though . Australian house prices might have increased even further if they did not have a CGT.  It was inevitable for asset prices to rise anyway because of the huge amount of money that was printed. 

 

I'm all for a CGT if they reduce income taxes to compensate. 

 

House prices are ridiculously high because of the huge increase in monetary supply (US and UK printed a crap load of money) and very low interest rates.   Interesting times , because quite a few people are saying the debt monster that we have created could destroy the global economy. 

 

 


508 posts

Ultimate Geek
+1 received by user: 162


  Reply # 1902705 16-Nov-2017 13:07
Send private message quote this post

Stop worrying. It's not happening anymore - https://www.stuff.co.nz/business/industries/98941633/waters-left-muddy-on-amazon-tax-after-minister-jumps-gun





Amanon

 
 
 
 


323 posts

Ultimate Geek
+1 received by user: 43


  Reply # 1902706 16-Nov-2017 13:07
2 people support this post
Send private message quote this post

Perhaps, retailers already know that the %15 GST isn't going to have much of an effect on online purchases. But their goal is to get the gov collecting it no matter what the costs. Inflating online overseas purchases even more due to gov slapping on fees to make it worthwhile or just to break even.

 

 

 

Also, to make it as inconvenient as possible.


2023 posts

Uber Geek
+1 received by user: 930

Trusted
Subscriber

  Reply # 1902721 16-Nov-2017 13:39
Send private message quote this post

Malpaso:

 

Its all about revenue raising folks, Taxinda and her government has to pay for the free education and parental leave somehow and this is just the start.

 

 

I don't mind paying GST on my discretionary overseas purchases if it creates a level playing field for local companies, plus contributes to fixing years of social neglect.


4082 posts

Uber Geek
+1 received by user: 1640

Trusted
Subscriber

  Reply # 1902726 16-Nov-2017 13:47
Send private message quote this post

sam395:

 

Gst is supposed to be on goods and services supplied in New Zealand clearly they are not supplied in nz?

 

 

 

 

No, it's for goods and services *consumed* in New Zealand. That's why you don't pay GST on international roaming charges, for example - despite the fact that they are supplied as much by your home carrier as by the roaming carrier, they are consumed outside NZ. That's also why you can claim back the GST on goods you bought in NZ but are taking permanently out of the country.





iPad Air + iPhone SE + 2degrees 4tw!

These comments are my own and do not represent the opinions of 2degrees.


UHD

535 posts

Ultimate Geek
+1 received by user: 222


  Reply # 1902778 16-Nov-2017 15:13
Send private message quote this post

SaltyNZ:

 

Weren't they already doing that?

 

 

 

Edit - yes, but not for little stuff, apparently. 

 

 

 

Ah well, I guess the $2 phone cases I buy for my daughter off Ali Express instead of $20 from the mall will now be $2.30 cases instead of $20. That'll make me think twice about disadvantaging the local retailers.

 

 

 

 

+$35 customs "administration fee" :)


1808 posts

Uber Geek
+1 received by user: 140


  Reply # 1902779 16-Nov-2017 15:24
2 people support this post
Send private message quote this post

Most of the products I purchase overseas are not purchased because it's cheaper to secure from overseas, but because local retails, distributors, wholesalers etc etc are just not interested in stocking the items. 

 

So tell me Retail NZ, how does adding GST to my overseas purchases help you? 


776 posts

Ultimate Geek
+1 received by user: 345

Subscriber

  Reply # 1902790 16-Nov-2017 16:08
4 people support this post
Send private message quote this post

gcorgnet:

 

In the current state of things, in most cases, a 15% tax will still have the overseas alternative cheaper than the NZ retails.

Bottom line is this won't help anyone except maybe the government by raising tax revenue.

 

One positive, sh!tty NZ retails won't have an excuse anymore and will either go away or step up their game

 

 

It may have the opposite effect to the one retailers want.

 

If you are going to pay GST on everything, then you may as well buy in MORE stuff because its not as though you will be making that tax threshold savings anymore.

 

Paying the GST will not change my buying habits, for the stuff that I buy in I ma saving anywhere between 50-90% compared to NZ retailers.

 

 

 

As we keep being told, we are now living in a global economy, and I don't see why only corporations should benefit from that.


776 posts

Ultimate Geek
+1 received by user: 345

Subscriber

  Reply # 1902792 16-Nov-2017 16:11
4 people support this post
Send private message quote this post

UHD:

 

SaltyNZ:

 

Weren't they already doing that?

 

 

 

Edit - yes, but not for little stuff, apparently. 

 

 

 

Ah well, I guess the $2 phone cases I buy for my daughter off Ali Express instead of $20 from the mall will now be $2.30 cases instead of $20. That'll make me think twice about disadvantaging the local retailers.

 

 

 

 

+$35 customs "administration fee" :)

 

 

 

 

so now you buy in 20 of them, sell of 19 @$4 on trademe and keep the one you want.

 

Local retailer misses out on 19 more sales, government misses out of the taxes from 19 higher priced items, and you make a couple of dollars in the process.


776 posts

Ultimate Geek
+1 received by user: 345

Subscriber

  Reply # 1902796 16-Nov-2017 16:20
One person supports this post
Send private message quote this post

surfisup1000:

 

Geektastic:

 

It's similar to capital gains tax - it won't change house prices much (see UK and Australia for details....!) but it will make more tax at our expense.

 

 

The lack of a comprehensive capital gains tax does skew investment decisions though . Australian house prices might have increased even further if they did not have a CGT.  It was inevitable for asset prices to rise anyway because of the huge amount of money that was printed. 

 

I'm all for a CGT if they reduce income taxes to compensate. 

 

House prices are ridiculously high because of the huge increase in monetary supply (US and UK printed a crap load of money) and very low interest rates.   Interesting times , because quite a few people are saying the debt monster that we have created could destroy the global economy. 

 

 

 

 

 

 

I see the Wellington rental housing stocks have fallen near 70%, Auckland about 50%.

 

Rents are increasing because of it.

 

Taking that much investment in housing is not going to increase the number of houses built, if anything it will make matters worse.

 

Rentals are like any business (and it is a business), people will only invest when they can make money from it.


8 posts

Wannabe Geek
+1 received by user: 2


  Reply # 1902856 16-Nov-2017 17:20
Send private message quote this post

I don't know what the retailers a whinging about they only pay Gst on profit they claim back gst expenses,where as the overseas importer pays it on the cost of the transaction not just the cost.


106 posts

Master Geek
+1 received by user: 24


  Reply # 1902862 16-Nov-2017 17:36
3 people support this post
Send private message quote this post

sam395:

I don't know what the retailers a whinging about they only pay Gst on profit they claim back gst expenses,where as the overseas importer pays it on the cost of the transaction not just the cost.



It might be worth noting that retailers do not pay any GST, they collecy GST on behalf of the consumer who makes a purchase.

Companies like Apple deceptively include value added taxes in the totals they use to try to demonstrate the amount of taxes they pay but it’s the consumer’s power to pay the tax by buying the product or choosing not to.






13371 posts

Uber Geek
+1 received by user: 1601


  Reply # 1902865 16-Nov-2017 17:52
One person supports this post
Send private message quote this post

sam395:

 

I don't know what the retailers a whinging about they only pay Gst on profit they claim back gst expenses,where as the overseas importer pays it on the cost of the transaction not just the cost.

 

 

 

 

Beucase it is the consumer that has to pay the GST, if they buy from a NZ store. So that makes the goods NZ retailers are selling more expensive than overseas store, as they have to add the GST onto the price. The retailer doesn't get the money from GST, the government does. So effectively the government are getting money off NZ retailers for goods, but not from overseas retailers. So adding GST to both NZ and overseas goods helps both the tax payer in getting more tax to pay for things like health and education. It also makes it a more level playing field when NZ retailers compete against overseas ones. I can't see overseas retailers absorbing the cost.


356 posts

Ultimate Geek
+1 received by user: 110


  Reply # 1902909 16-Nov-2017 19:39
2 people support this post
Send private message quote this post

sir1963:

 

 

 

If you are going to pay GST on everything, then you may as well buy in MORE stuff because its not as though you will be making that tax threshold savings anymore.

 

 

This is exactly right. With the additional fees, a $400 item incurs a ~27.5% penalty. Having the retailer charge GST and scrapping the other charges would allow me to buy more items in the $400-500 range. It's rare for me to import anything more expensive than that as it's beneficial to have local warranties, and expensive items usually don't have the same absurd markups.


UHD

535 posts

Ultimate Geek
+1 received by user: 222


  Reply # 1902911 16-Nov-2017 19:40
One person supports this post
Send private message quote this post

Cue the rise of different marketplaces which do not collect GST on behalf of the NZ government because they aren't based here and are not subject to NZ law. :)


1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13
View this topic in a long page with up to 500 replies per page Create new topic



Twitter »

Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

New Zealand government to create digital advisory group
Posted 16-Dec-2017 08:47


Australia datum changes means whole country moving 1.8 metres north-east
Posted 16-Dec-2017 08:39


UAV Traffic Management Trial launching today in New Zealand
Posted 12-Dec-2017 16:06


UFB connections pass 460,000
Posted 11-Dec-2017 11:26


The Warehouse Group to adopt IBM Cloud to support digital transformation
Posted 11-Dec-2017 11:22


Dimension Data peeks into digital business 2018
Posted 11-Dec-2017 10:55


2018 Cyber Security Predictions
Posted 7-Dec-2017 14:55


Global Govtech Accelerator to drive public sector innovation in Wellington
Posted 7-Dec-2017 11:21


Stuff Pix media strategy a new direction
Posted 7-Dec-2017 09:37


Digital transformation is dead
Posted 7-Dec-2017 09:31


Fake news and cyber security
Posted 7-Dec-2017 09:27


Dimension Data New Zealand strengthens cybersecurity practice
Posted 5-Dec-2017 20:27


Epson NZ launches new Expression Premium Photo range
Posted 5-Dec-2017 20:26


Eventbrite and Twickets launch integration partnership in Australia and New Zealand
Posted 5-Dec-2017 20:23


New Fujifilm macro lens lands in New Zealand
Posted 5-Dec-2017 20:16



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.

Alternatively, you can receive a daily email with Geekzone updates.