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Thread ID: 107251	2010-02-10 00:09:00	Nothing much changed in the tax.	Nomad (952)	PC World Chat

Post ID	Timestamp	Content	User
856820	2010-02-10 10:25:00	One crucial thing we are all forgetting here is inflation. What could you buy 10 years ago for 5,000$ and what can you buy now? 20 years ago? Whatever you save in kiwisaver will be worth a lot less than it is now. You're already damned if it does. But inflation is good if you have a mortgage isn't it? As long as you can afford to buy property, buy buy buy. We aren't going to live forever, nor work forever. But I know for a fact any money I save now will be worthless soon enough. If you invest, invest in something that will withstand market changes. We all have to wise up to the fact that, as blue-collar workers, as I suspect the majority of us are, we will never really have opportunity to make very good money - sums high enough that we could invest in the stock market or FX and have a good lifestyle at the end of the day; our only realistic option is getting into the housing market. Even 150k saved over the next 35 years, will be worth somewhere close to 50k is worth now (if we are lucky, we probably won't be). Will that be enough to see us till the end? Or will we be squabbling for any superannuation we can get? 30k a year for a couple. Is that really enough? (Do you still get taxed on this? Can someone confirm this?) It will get worse. Key is taking this away from us. Increasing taxes in an underhanded manner. The recession ain't over, it's just beginning. Shalom Prime Minister Key.	Cato (6936)
856821	2010-02-10 10:32:00	One crucial thing we are all forgetting here is inflation. What could you buy 10 years ago for 5,000$ and what can you buy now? 20 years ago? Whatever you save in kiwisaver will be worth a lot less than it is now. You're already damned if it does. But inflation is good if you have a mortgage isn't it? As long as you can afford to buy property, buy buy buy. We aren't going to live forever, nor work forever. But I know for a fact any money I save now will be worthless soon enough. If you invest, invest in something that will withstand market changes. We all have to wise up to the fact that, as blue-collar workers, as I suspect the majority of us are, we will never really have opportunity to make very good money - sums high enough that we could invest in the stock market or FX and have a good lifestyle at the end of the day; our only realistic option is getting into the housing market. Even 150k saved over the next 35 years, will be worth somewhere close to 50k is worth now (if we are lucky, we probably won't be). Will that be enough to see us till the end? Or will we be squabbling for any superannuation we can get? 30k a year for a couple. Is that really enough? (Do you still get taxed on this? Can someone confirm this?) It will get worse. Key is taking this away from us. Increasing taxes in an underhanded manner. The recession ain't over, it's just beginning. Shalom Prime Minister Key. NZs whole economy and tax system is based around houses. Its why trademen can earn so much, compared to other workers in the economy. Inflation is going to increase a lot in the next few years, and the government are going to use it to inflate away our national debt.	robbyp (2751)
856822	2010-02-10 18:53:00	No, you've missed the point! Surely I'm not the only one who's read and properly digested this document: www.beehive.govt.nz Note: There's now Videos on there I'm yet to watch. Yes, he said he wouldn't increase GST to try and cover deficits and that's not his reason for wanting to raise it. Aside from that, he's not increasing taxes as such, because if there's tax cuts across the board then you're not going to be any worse off.. If you read the document, you'll see that there will be tax cuts across the board! Look at it this way: You earn $15 an hour, you'll have around $600 before tax, or ~$476 after tax (w/out kiwisaver). Spend all of that, and thats $423+GST (12.5%) of $53. If GST goes up, you get $414 + GST. You're $9 worse-off each week. Yes, living week-to-week is tough, but $9 a week shouldn't break you. IF it does then you're lucky, because not only is personal tax being lowered, so your cash-in-hand post-tax goes UP, but the WFF / Tax credits etc is also increasing. he average family in NZ is apparently on around $15 per-hour ($500 per-week cash-in-hand) from what I last read, so that's a relatively accurate representation. If GST goes all the way up to 15% then you're $9 a week worse-off. Except, YOU'RE NOT! Why? Because, your tax rate is going to decrease by around 3% also, say from 33% to 30%, leaving you with more money initially coming in. So effectively you'll have (for example) $486 after tax, or in other words: $423 + GST (at 15%). It's a non-issue for most families, really, as the tax rate on their primary earner (Generally speaking the husband) decreases, not to mention the working-for-families tax credits also adjust so you have more money in your pocket. Nobody is going to be $9 short... Surely I'm not the only person in this whole country aside from the PM who sees that families won't be out of pocket from this whole adjustment ... Again, go and read the document, you'll see that this kind of an adjustment is actually the start of an attempt to incentivize savings, as New Zealand'ers as a populace in-general are HIGHLY in-debt. I know I sure as hell am, it was foolish, but at the time it was easy to obtain so I did it. Now I'm stuck paying off a personal loan for a total of 6 years, with absolutely didly squat to show for it. Then, they go bitching about tourism "Oh people won't migrate to NZ coz GST is 5% higher than in Aus". Seriously?! When people dream about migrating to NZ they don't think "Heck, GST is high there, won't go live there", but rather "Total cost of living vs my expected wage amount vs country beauty vs security for my family vs crime rate vs racial discimination". If there's one thing Goff does well, it's pulling down the leadership, without offering anything constructive in return. Fear to the masses is not the way to try and get into leadership of a country, but he sure as hell seems to be giving it a damn good try.	Chilling_Silence (9)
856823	2010-02-10 20:15:00	So everyone who rents and doesn't like the costs passed on to them will not rent. So are they all going to live in tents.:groan: If houses are overpriced people dont buy them check this out www.nzherald.co.nz The free market system means undercutters come to the party. You can put rents up as much as you like but at the end of the day your house will sitting empty.	prefect (6291)
856824	2010-02-10 20:52:00	Well, I'd like to know, if the GST is only 10% in Australia, (and they have exemptions on some food items) how does raising ours to 15% put us on a par with Australia? That is what our govt says it wants to do isn't it? LL	lakewoodlady (103)
856825	2010-02-10 20:56:00	That's what you get when you vote for National... Ok fellows I admit it - I voted for them. It's all my fault. But they have lost me now.	Thomas01 (317)
856826	2010-02-10 21:17:00	This is generally how it works with a fundamentalist right wing government: "For he that hath, to him shall be given: and he that hath not, from him shall be taken even that which he hath." (King James version) :banana	Terry Porritt (14)
856827	2010-02-10 21:18:00	I would vote for them if it made economic sense to do so, (moral sense has nothing to do with politics) but it would need my gross income to become grosser by at least a factor of 100. Anything under 600k$ pa won't cut it I fear. Next position reserved for Cicero and the woaded ones to do a Smurf dance ;)	R2x1 (4628)
856828	2010-02-10 21:27:00	I was programmed at birth to vote National,sorry cant stop myself. Just the opposite of the commies who vote labor.	prefect (6291)
856829	2010-02-10 21:51:00	It's not Nation that is at fault. The people want low tax and hand out to boot,not possible,so any good would be leader will not get anywhere. What we get is the likes of Hone Keys and Herren Clark,whose agenda is to stay in power. Michael Portillo saw that it is impossible to deal with the voter of today,they want it both way,so what they get, are liars who will give it to them.	Cicero (40)
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