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| Thread ID: 150923 | 2022-10-06 22:29:00 | Political Parties and tax Cuts | Neil F (14248) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1488756 | 2022-10-06 22:29:00 | I think National's latest thinking is still over reliant on its perceived "rich mates" followers base by saying it will remove the 39% rate and the Brightline Test. (Property investors). In view of the struggles many people are facing with rising costs (and many were already struggling before the recent increases) I believe that a more productive approach for any political party would be to increase the scope of the 10.5% tax rate (on first $14.400 of income) to a higher figure e.g., $20,000. This would help far more people than those who are paid more than $180,000 p.a. -which is where the 39% tax rate kicks in. The so called "trickle down" benefits theory has long been proven to be BS. For those who want to do the arithmetic the saving in tax would be $392 (being the extra level $5,600 income ($20,000-$14,400) at 10.5% v at 17.5%). =$392. This may not sound much, but every $ saved would help most. If the limit was raised to $25,000 the annual tax saved would be $742. I am a retired Accountant (obviously not one of the high $ elites). Comments please |
Neil F (14248) | ||
| 1488757 | 2022-10-07 23:47:00 | I believe that a more productive approach for any political party would be to increase the scope of the 10.5% tax rate (on first $14.400 of income) to a higher figure e.g., $20,000. This would help far more people than those who are paid more than $180,000 p.a. I agree however you need to tell the rich mates that not us. And no doubt they won't care, it's not that these people don't understand, it's that they want it this way. |
piroska (17583) | ||
| 1488758 | 2022-10-08 00:27:00 | Thanks for that Neil. Sounds pretty practical to me. Ken |
kenj (9738) | ||
| 1488759 | 2022-10-08 23:12:00 | how many $180k+ income earners actually pay the full tax? i bet not many, if any. most high income earners typically have ways to "minimise" paying tax. |
tweak'e (69) | ||
| 1488760 | 2022-10-09 00:01:00 | The Aussies have already shown us the way. GST (Government Salvation Tax) 10% (not 15%) and Nil on unprocessed food. All fixed. :) |
B.M. (505) | ||
| 1488761 | 2022-10-09 03:15:00 | When these cuts are made, it is most unlikely that ANY politician will be discomforted, let alone bleed. | R2x1 (4628) | ||
| 1488762 | 2022-10-09 18:00:00 | When these cuts are made, it is most unlikely that ANY politician will be discomforted, let alone bleed. You have got that 100% right! |
CliveM (6007) | ||
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