Imagine a capital gains tax was in place now as proposed. The Labour Party calculations by Berl Economics on page six estimated an annual price appreciation rate of 3.5%. Using this as a basis, this would give an annual increase in the first twelve months of $8,750 on which tax would later be payable of $1,312.
THIS AMOUNT OF TAX IN THE FIRST YEAR IS THE EQUIVALENT TO $25 PER WEEK.
I would conclude that over time rents would need to adjust by an equivalent amount to maintain the current position, if a similar number of landlords would be expected to facilitate supply of accommodation.
The other major factor which effects Rent levels is interest rates… and they are forecast to rise from later this year. Planning a new tax on landlords to apply 2013 might not be ideal for those who might want to rent housing.
Take away the emotive language and focus on facts. The Average property Investor is not a high income earner and may have one to three properties. Trying to save for retirement so as to ring fence themselves from Government!
Scott Mason, tax principal at WHK in Dunedin, said a move to CGT would be an “absolute, fundamental change to Kiwis’ mind-sets” – developed over more than 100 years.
He said introducing CGT would be a “winner” for valuers, lawyers and accountants, while the “losers” would be “every Kiwi striving to do better for themselves by saving and investing in assets, as opposed to spending in the here and now”.
Dunedin has a unique mix of investment properties with a high proportion of student rentals. If rents get a double whammy from rising interest rates and CGT how much will it impact on Dunedin as an attractive proposition for education?
Students won’t buy properties in Dunedin if landlords decide it’s not worth investing here under CGT.
What does the presumed new Labour MP for Dunedin North think?
Just watched excellent presentation on youtube. David Cunliffe explains how Labour is going to build a fairer future for New Zealand. Superb – and timely.
Good plug for Labour. No consideration for Dunedin North.
Come on David, are you standing for a party or an electorate?
Is National paying you to recycle these discredited FUD arguments all over the internet? This is what I gleaned:
– The wealthy Property Investors Assn wants to keep their tax free speculation profits
– Some people think they have the right to evade their tax obligations
– The suckers buying houses to live in ought to be shafted by a bubble economy and be grateful
– The bank will be stoked to have another Kiwi paying mortgage interest to its Aussie shareholders
– Landlords will be “forced” to put up rent (stop the press! landlord tries to increas rent!)
– It’s all so frightening I MUST USE CAPITAL LETTERS TO EMPHASISE that I might be taxed for money I gained WITHOUT DOING ANYTHING PRODUCTIVE
Breaking News – the President of the Otago Property Investors Assn doesn’t like a CGT!
A CGT closes a great big gaping hole in our tax regime that has enabled people to convert taxable income to non-taxable capital gain and therefore avoid paying tax. This is unfair and is a burden on all other taxpayers.
My previous boss had an annual income of $250,000 p.a. and boasted he never paid more than $10,000 p.a. in tax as he offset his income against his highly geared rental property portfolio.
a move to CGT would be an “absolute, fundamental change to Kiwis’ mind-sets” – developed over more than 100 years.
Sure will – no more using property speculation to avoid income tax.
Need to do a bit more secret squirreling if a couple of quotes from vested interests is the best you can come up with.
A CGT closes a great big gaping hole in our tax regime
But will a CGT with a myriad of little holes do it?
I’ve looked for local comment because a change in emphasis on investment taxation could have a big impact on Dunedin. I’ll happily post different views on it, CGT deserves a good debate.
I don’t like Key dismissing it completely. That’s bad politics.
I’d prefer to see a CGT designed with expert input and wide electorate now, not tweaking or window dressing the final product, and not designed around potential voter groups in a party backroom.
A fundamental change to our tax system like this deserves far more than being an election year bribe and scare football. Doesn’t it?
But will a CGT with a myriad of little holes do it?
So you’ve agreed that there is a great big gaping hole in the tax regime that needs to be fixed. Not doing anything about it is a bit like not building a dam because you’re worried there might be a few leaks.
I’ll happily post different views on it, CGT deserves a good debate
Go on then do it.
A fundamental change to our tax system like this deserves far more than being an election year bribe and scare football.
It’s called policy actually and all being well it’s what elections should be won or lost on. Or would you prefer us to elect MPs on their looks or ability to “smile and wave”.
No dam is better than a dam with holes that you have no idea in advance how open they will get.
Policies are important for elections but it’s also important to have faith in those behind the policies, that they will consult and listen and respond, and not just emerge from a party back room with what they think is a vote winner and try to shut off valid criticism and debate.
A debate on something as big and important as a a major tax restructuring should last for more than a couple of weeks, shouldn’t it?
Trying to frame it now as “choose this or something else” is trying to shut down debate when it should only be starting,
“…it’s also important to have faith in those behind the policies, that they will consult and listen and respond…”
Riiiight. Like National do. Or like you do, here. Goodo.
“…and not just emerge from a party back room with what they think is a vote winner…”
It’s becoming apparent that your real problem with a CGT is that you think it’s a vote-winner too.
“Trying to frame it now as “choose this or something else” is trying to shut down debate when it should only be starting”
Actually this has been debated for decades. You’ve only just started to take notice now that you have to for political reasons, and if you’re too late to be involved that’s nobody’s fault but yours.
Actually this has been debated for decades. You’ve only just started to take notice now that you have to for political reasons
I thought that was referring to the Labour Party, because according to Goff they only started to take notice this year when they decided they need to compete with asset sales policies.
The catalyst for Labour’s support of a capital gains tax was the government’s proposal to sell shares in state-owned assets.
Labour leader Phil Goff said at the launch of his party’s tax policy this afternoon that the proposal was a declaration of intent that effectively called on Labour to find the political courage to map out a better, more viable alternative.
when they decided they need to compete with asset sales policies.
Trying to rely on a one liner to explain why Labour came up with a CGT communicates an ignorance of how policy priorities are chosen and the detailed process needed to forge policy which is strong and workable.
The CGT does a lot more than compete with National’s asset sales agenda, it demonstrates a willingness on Labour’s behalf to rebalance the entire economy and broaden the tax base, a process which Labour has explicitly said will take years.
English and Key on the other hand have a one hit asset sell off. Not much competition really.
And don’t you just cringe when Key and Co, keep on with the “kiwi mums and dads” line. I am a Kiwi Dad I and I don’t have any money saved, So Blinglish is deluding himself if he thinks that we can afford to go out and buy shares willy nilly just so he and his mates can have Tax cuts.
If you bothered to see what he said, you’d know that he praised Labour for bringing CGT up, he criticised them for proposing a holey version, and he criticised National for turning their backs on it.
I’m not going to say “I love Labour’s proposal, there’s nothing at all wrong with it”. That’s not balance, that’s stupidity, which you seem to have woken up with today.
It seems to me that any would-be landlord who can’t make a normal profit should stay out of the market. The trouble is that 15% is not high enough to keep out punters who can’t make it work. I think I would set the rate to 90% with an abatement of 5 percentage points per year to 15% after 15 years. Hopefully this would keep out speculators, and renovators who want to pass off the fruits of their renovations as capital gains.
The real problem in the rental market is not the lack of a CGT but high property values, and perhaps high interest rates, which makes it difficult for landlords to make a normal profit.
[It seems to me that any would-be landlord who can’t make a normal profit should stay out of the market. The trouble is that 15% is not high enough to keep out punters who can’t make it work. I think I would set the rate to 90% with an abatement of 5 percentage points per year to 15% after 15 years. Hopefully this would keep out speculators, and renovators who want to pass off the fruits of their renovations as capital gains.]
It has actually been pointed out to me on another thread that a high rate is not actually needed for CGT to act as a deterrent, and it is clear to me that the pointer outer is correct. So I’m forced to retract all the stuff about a 90% tax rate. lol.
Secret Squirrel, or should I say Pete George..you forget that landlords have been hiking up rents and pricing a lot of people out of rental accommodation (not to mention becoming more choosy about who they rent to) for the past decade or so.
And I shall wager that with the changes to state housing being brought in, and thousands of vulnerable families being kicked off the HNZ waiting lists into the private sector, landlords will be taking that oppurtunity to put up rents even further (of course, the slum-lords union is mysteriously silent about that little issue) than they already are and than they could with a capital gains tax.
Of course, I think that the CGT should be spent on 1) expanding state housing back to pre-1991 levels, 2) higher accomodation supplements, and 3) low interest home loans for people.
In the mail this week: a letter from Anne Tolley stating that
* National plans to cut playcentre funding by 60%
* The govt prefers to fund places with qualified staff
* Submissions close at the end of August
WTF is happening with this nasty attack on community run organisations? Are mothers now required to do a (very expensive) ECE course just to have somewhere to take their kids to play with other children? Does Tolley realise that not everyone can afford fancy preschool daycare or kindergartens?
Can’t find this anywhere on parliament.nz to make a submission.
ropata I guess that Ann Tolley belongs to that school where children are valued for the clever things they can do to impress friends and rellies. That is why it is important to concentrate on the Education in Early Childhood Education. Kids should be forced forward, trained like show ponies, that’s more important than socialisation, confidence, physical skills and the use of ideas, imagination with craftwork all to be enjoyed rather than completed and measured to some standard.
In some Asian countries, I think I have heard recently about South Korea, the children suffer so much if they can’t achieve to their parents expectations that they commit suicide. I think that has been recorded here amongst some PI people. Parents who have not had much schooling themselves, and don’t understand what is involved can pressure their children beyond endurance. I don’t know if this happens particularly with girls, but often they have onerous household and child minding duties as well as trying to do homework and have high test results. I was reading about a NZ pupil on exchange in France, their school went from 8am to as late as 6pm.
Even the Stuff National poll http://www.stuff.co.nz/national/
is coming up with
Partial Asset Sales 46.9%,
Capital gains tax and higher top income tax 53.%
Given the expected bias from an internet poll that has to indicate at least a 10% margin in favour of Labours programme of looking after the many rather than the few.
A while ago, I decided to get some dance lessons. Don’t get me wrong; I can dance already, being a veritable master at the Twist and Funky Chicken. However it’s tap dancing that has always interested me… so I finally paid for some lessons, which are going superbly! There’s still a few months to practice before the big night, and a few spaces left in the tap dance class, so feel free to get your dancing shoes on as well.
Unfortunately polls suggest most people don’t see him that way.
In most of his interviews (and yes, again launching Labour’s CGT) he looks uncomfortable with his message. He looks like he’s saying what he thinks he has to say, and not what he feels and believes.
He’s been in politics long enough to be familiar with dealing with media interviews, so can’t be inexperience.
Goff looks like the party that is dragging him in directions he’s not comfortable with. He doesn’t look like he believes in what he’s saying.
Pretty large assumptions to make there SS. It’s apparent that Phil Goff is running Labour properly, hence the unbalanced opinion shown on the Nation program today. The right wing program even said the CGT would apply to Christchurch houses, when they will initially be exempt. It’s one thing to tell only one side of the story, but to blatantly lie about a political parties policies is not acceptable.
It is Labour’s policies that people will vote for. There is already overwhelming support for the well constructed CGT from a wide range of the community. Such a tax will make many speculators vote National, and many more poor people vote Labour. There are more poor people than wealthy, National has made sure of that.
The other side of the coin is that people will now vote against National, because they have failed to deliver any of their promises. You can harp on about Goff’s mannerisms all you like SS, they beat John Key’s lies and failure hands down.
It’s apparent that Phil Goff is running Labour properly, hence the unbalanced opinion shown on the Nation program today.
Interesting comment jackal.
I noted on Thursday evening’s TV1 and TV3 news programmes (immediately after Labour’s announcement) that TV3’s coverage was much fairer and more balanced than TV1. In fact TV1’s coverage was blatantly partisan against Labour and the CGT tax. It suggests to me that the problem is not the respective TV stations as such, but rather the personnel who run the individual news and current affairs programmes.
Yeah but don’t forget that SS or Pete or what ever nom de plume he’s using at the moment, has had to stoop to name calling, because every other argument he tries to start is met with solid FACTS. See SS or Pete, FACTS not guesswork, or as in the case of Blinglish and KY Prayer. As in don’t have one!
This morning Kim on radionz was interviewing author –
Gerald Seymour: thrills and terror
British writer Gerald Seymour worked for many years as an international news reporter. His first thriller, ‘Harry’s Game’, was published in 1975; he has since written a further 25 bestsellers. His new book is ‘A Deniable Death’. (44′11″)
Interesting chap. He talked about the Balkans and the plight of the Muslims in the area affected by the Serbs’ rush of blood to the head and feet, and how hard it would be to improve the survivors’ life to normality, perhaps never in their lifetime. He wrote Harry’s Game about Northern Ireland and how violence is breaking out there again. (It was probably depression from seeing the infighting of Greek partisans once the Germans were dealt with that led to John Mulgan taking his life.) Old enmities, old traditions allowed to fester need cleaning out with a new mindset, a different approach to contested traditions.
Then Joky Hen says he isn’t interested in making any changes to the loyalty oath in our parliament because it is long-standing. Making small changes that allow for better relationships and meet ideas of fairness are necessary by wise, intelligent leaders of society. Which Joky Hen isn’t.
Intermittent signal July 2011/4 (last11/7)
People in NZ doing things with ideas for a good future here.
Radio NZ today – Country Life Making a Lifestyle Block Make Money
The Madsens own a beautiful home in a cluster of lifestyle blocks in North Auckland. They have a few pigs and a sheep on their one hectare of land. So far, so ordinary. But the couple have built a unique way of life by turning the idea of the unproductive lifestyle block on its head. They run a herd of 150 cattle, over a number of blocks. (duration: 11′23″)
Download: Ogg Vorbis MP3
and A New Home for Koanga Institute and Gardens
For the past 25 years Kay Baxter and her husband Bob Corker have been saving New Zealand’s heritage fruit trees and vegetables at Koanga Gardens in Kaiwaka. But five years ago they decided they needed a new place to live so have found a new home near Wairoa where they’re developing a Community Land Trust which they hope will support up to 30 families. (duration: 22′03″)
Download: Ogg Vorbis MP3
and Wool Based Disposable Nappies
Potroz-Smith Technologies is developing a super absorbent wool-based material called NatraZorb, to be used in disposable nappies, amongst other things. Derelee Potroz-Smith says the idea started on her family’s Taranaki farm with romney sheep. (duration: 6′11″)
Download: Ogg Vorbis MP3
Wasn’t Citizen A amusing last night. Cameron Slater squirming when put on the rack concerning his infamous gut shot comments re Arie Smith-Voorkamp was priceless. But then the ignoramus AKA Whaleoil made a most interesting revelation, which seems strange in context to his normal campaign of disinformation…
Personally I think that there will be a deal to raise the debt ceiling, and that a crisis will be averted. However it will involve slashing what is left of the USA’s social safety net and public sector. And quite a few more people will consigned into hardship, or worse. But really, what’s a few more in the scheme of things.
40 years ago, only Nixon could go to China. Now in 2011, only Obama could cut Social Security (and Medicare)
Republicans and Democrats are two sides of the same coin.
One possible outcome is that they increase the Federal Debt Limit but with no changes to entitlements or tax increases i.e. they just kick the can a bit further down the road. What do you reckon the chances are?
Unemployment is skyrocketing among Maori youth, yet tribal leaders would rather employ fishing boat crews from overseas instead of purchasing their own boats and training up their young people to crew them.
Im guessing they would rather use the profits to dish out scholarships to family members and buy BMW’s.
If Hone wants any modicum of respect, then he should be highlighting this issue, instead of throwing his toys when he doesn’t get is own way when he is sworn in.
So the thin blue line (aka ‘the filth’) have performed another summary execution when they gunned down an admittedly troublesome person at the Headlands Hotel according to media reports….
“I am able to confirm that the man was challenged, a dog deployed, there was a struggle and Police discharged a firearm.”
The man died at the scene.
The police shot was the only shot fired, he said.
The man’s gun had not yet been found.
A knife was found near his body, Mr Handcock said.”
What are tasers and pepper for? Oh thats right, they are to ensure compliance not end this sort of situation in a non lethal way. The fact is whenever the pigs draw a firearm prepare to die as they are trained to aim at the torso only, ie shoot to kill. Fer crissakes they had 30 plus special coppers hanging around and it just looks like a grotesque training exercise given the forces involved.
The stand-off began last night, when Ratahi stormed into the hotel’s restaurant and pulled out a rifle.
“He was yelling at us to get out and I just yelled at the girls to move, move, move and we all ran for the front door,” said witness Kathy Muggeridge.
“As soon as the guy saw police approaching he pulled out a gun and that was when he pointed it … and told us to go.”
Witnesses said they saw the gunman beating up a waitress and dragging her across the floor.
Inspector Pat Handcock told media the man was shot once and died at the scene. He was armed with what was thought to be a handgun.
Ratahi has previously been charged with assaulting a woman using a knife and injuring with intent to cause grievous bodily harm.
Early this morning, the man could be heard yelling at police.
”You come over here, sonny boy – I’ll shoot you first,” he said.
Yeah thats right when someones got a firearm its reasonable to use a taser and pepper spray on them
I know this might be a foriegn concept but maybe in future:
Don’t kidnap people
Don’t beat up women (actually don’t beat up anybody)
Don’t threaten people with a firearm
Don’t threaten the police with a firearm
Give yourself up when challenged by the police
It is really difficult to follow the logic of John Key & the Nats in relation to a CGT. Is the guy actually thinking lucidly or groping around for some solid arguments against the tax.
I heard him on the radio today stating how ‘NZ needs more tax payers, not a new tax’. Has it escaped his attention that a CGT is about broadening the tax base and bringing into the tax system parts of the economy which are not taxed at present. Ipso facto, more tax payers.
On the news tonight Bill English states that people not paying tax on income earned is ok whereas the likes of Selwyn pellett and Gareth Morgan are both saying they should be paying tax on hitherto untaxed profits.
The Nats have really struggling to be coherent at the moment.
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On the weekend, Infrastructure Minister Chris Bishop admitted that not everyone will “like” his fast track wish-list, before adding: “We are a government that does not shy away from those tough decisions.” Hmm. IMO, there’s nothing “tough” about a government using its numbers in Parliament to bulldoze aside the public’s ...
First they came for Newshub, and I said nothing because I didn’t watch TV3. Then they came for One News, and I said nothing because I didn’t pay much attention to them either. Then they came for me, and there was no one left to speak out because all the ...
Something I especially like about you all, you loyal and much-appreciated readers of More Than A Feilding, is that you are so very widely experienced and knowledgeable. Not just saying that. You really are.So I'm mindful as I write today that at least one of you has been captain of an ...
On Friday, Luxon and Reti were at Ormiston Private Hospital to talk up the benefits of private money in public health. [And defend Casey Costello - that’s a given for now by our National Party Ministers - including the medical doctor Shane Reti.]Luxon and Reti said we were going to ...
Hi,If you are unfortunate like me, you will have seen this image over the weekend.Donald Trump returned to the site of his near-assassination in Butler, Pennsylvania — except this time he brought Elon Musk with him. It’s difficult to keep up with Trump’s brain, but he seems to have dropped ...
Last week finally saw the first major release of detailed data from last year’s Census. There are a huge number of stories to be told from this data. Over the next few weeks we’ll be illuminating a few of them – starting today with an initial look at how New ...
The Government finance hand brake that stalled construction momentum in early 2024 remains firmly on. Photo: Lynn Grieveson / The KākāKia ora. Long stories short, here’s my top six things to note in Aotearoa’s political economy around housing, climate and poverty on Monday, October 7:Infrastructure and Housing Minister Chris Bishop ...
Change is coming to America. Next month’s elections are likely to pave the way for an overhaul of US foreign policy– regardless of whether Donald Trump or Kamala Harris wins the presidency. Decisions made in Washington will also have a direct impact on Wellington. While the Biden administration started its ...
Those business leaders who were calling last week for some indication of an economic plan from the Government got their answer yesterday. In what amounted to the first substantial pointer to the future rather than the past from a Government Minister, Infrastructure Minister Chris Bishop set out the reasons for ...
A listing of 30 news and opinion articles we found interesting and shared on social media during the past week: Sun, September 29, 2024 thru Sat, October 5, 2024. Story of the week We're all made of standard human fabric so it's nobody's particular fault but while "other" parts of the world ...
I had occasion yesterday to visit our health centre. My doctor had said that I needed a blood test. The first thing I noticed was that the phlebotomist was acting as her own receptionist. She was handing a number to prospective patients in the order in which they presented themselves. ...
Nicola Willis and her boss have been peddling a fake short history of the previous government that runs as follows:They spent and spent, they had nothing to show for it and that is not how you grow the economy, because You can't tax yourself to prosperity.There is a sort of ...
There’s a bad taste in my mouth. And it has nothing to do with dinner. The Rings of Power season two – undoubtedly a massive improvement on season one – has concluded on a mixed note. It’s not season one bitterness, in that parts of this episode were indeed excellent, ...
If the rain comes they run and hide their heads.They might as well be dead,If the rain comes, if the rain comes…Can you hear me that when it rains and shines,It's just a state of mind,Can you hear me, can you hear me?Song: Lennon-McCartneyIt’s been quite a week for Dunedin ...
Today’s mañana strategy will lead to a crisis for the oldest elderly.It is said that the only certainties are death and taxes, but a lack of each causes uncertainties. As longevity increases, the pressures on state spending increase. A reluctance to increase taxation means the pressures on the elderly increase.The ...
When cancer minister Casey Costello convinced Cabinet to give her mates at Philip Morris a $216 million tax cut, she did so in the face of departmental advice that there would be no benefits and that Philip Morris' "heated tobacco products" were more cancerous and toxic than cigarettes. But she ...
A State of Emergency has been declared in Dunedin after Otago was lashed by heavy rain yesterday. Houses have been flooded in low-lying parts of South Dunedin and residents are being encouraged to evacuate if they felt unsafe. MetService issued it’s first ever red heavy rain alert for north Otago, ...
Long story short:Treasury has warned again public debt will rise exponentially in the decades to come because of the rising costs of our ageing population, unless we change one or more of our New Zealand Superannuation promises, publicly-funded healthcare or tax settings. The current Government isn’t planning any changes, ...
Long stories short, here’s the top six news items of note in climate news for Aotearoa this week, and a discussion above between Bernard Hickey and The Kākā’s climate correspondent Cathrine Dyer:“Why does everywhere seem to be flooding right now, Vox asks, as a new study predicts that 70% of ...
Labour welcomes the release of the Government’s response to the report into the North Island weather events but urges it to push forward with legislative change this term. ...
The Green Party echoes a call for banks to divest from entities linked to Israel’s illegal settlements in Palestine, and says Crown Financial Institutions should follow suit. ...
Te Whatu Ora’s finances have deteriorated under the National Government, turning a surplus into a deficit, and breaking promises made to New Zealanders to pay for it. ...
The Prime Minister’s decision to back his firearms minister on gun law changes despite multiple warnings shows his political judgement has failed him yet again. ...
Yesterday the government announced the list of 149 projects selected for fast-tracking across Aotearoa. Trans-Tasman Resources’ plan to mine the seabed off the coast of Taranaki was one of these projects. “We are disgusted but not surprised with the government’s decision to fast-track the decimation of our seabed,” said Te ...
At Labour’s insistence, Te Whatu Ora financial documents have been released by the Health Select Committee today showing more cuts are on the way for our health system. ...
Fresh questions have been raised about the conduct of the Firearms Minister after revelations she misled New Zealanders about her role in stopping gun reforms prior to the mosque shootings. ...
Education Minister Erica Stanford still can’t confirm when the Government will deliver the $2 billion worth school upgrades she cut earlier this year. ...
Labour acknowledges the hundreds of workers today losing their jobs as the Winstone Pulp mill closes and what it will mean for their families and community. ...
In Budget '24, the National Government put aside $216 million to pay for a tax cut which mainly benefitted one company: global tobacco giant Philip Morris. Instead of giving hundreds of millions to big tobacco, National could have spent the money sensibly, on New Zealand. ...
Te Whatu Ora’s financials from the last year show the Government has manufactured a financial crisis to justify making cuts that are already affecting patient care. ...
Over 41,000 Palestinian’s have been murdered by Israel in the last 12 months. At the same time, Israel have launched attacks against at least four other countries in the Middle East including Lebanon, Syria, Yemen, and Iran. “You cannot play the aggressor and the victim at the same time,” said ...
Associate health minister Casey Costello has made a fool of the Prime Minister, because the product she’s been fighting to get a tax cut for and he’s been backing her on is now illegal – and he doesn’t seem to know it. ...
The Finance and Expenditure Committee’s inquiry into climate adaptation is something that must be built on for an enduring framework to manage climate risk. ...
The Government is taking tertiary education down a worrying path with new reporting finding that fourteen of the country’s sixteen polytechnics couldn’t survive on their own,” Labour’s tertiary education spokesperson Dr Deborah Russell says. ...
Today the government announced a $30m cut to Te Ahu o Te Reo Māori- a programme that develops te reo Māori among our kaiako. “This announcement is just the latest in an onslaught of attacks on te iwi Māori,” said Te Pāti Māori Co-Leader Rawiri Waititi. ...
The Government has shown its true intentions for the public service and economy – it’s not to get more public servants back to the office, it’s more job losses. ...
The National Government is hiding the gaps in the health workforce from New Zealanders, by not producing a full workforce plan nearly a year into their tenure. ...
Today, the Crown Mineral Amendment Bill was read for the first time, reversing the ban on oil exploration off the coast of Taranaki. It was no accident that this proposed law change was read directly after the Government started to unravel the ability of iwi and hapū Māori to have ...
Te Pāti Māori spokesperson for Justice, Tākuta Ferris, has hit out at the Government, demanding the Crown prove its rights to the foreshore, following the Marine and Coastal Area Amendment Bill, passing its first reading. "Māori rights to the foreshore pre-exist the Declaration of Independence, Te Tiriti o Waitangi, and ...
The Green Party vows to reinstate the oil and gas ban and revoke permits when it returns to government following the coalition’s introduction of legislation to reopen offshore oil and gas exploration this afternoon. ...
Associate Finance Minister David Seymour says the Government has committed to action on overseas investment, where the country’s policy settings are the worst in the developed world and holding back wage growth. “Cabinet has agreed to the principles for reforming our overseas investment law. At the core of these principles ...
The annual East Asia Summit (EAS) held in Laos this week underscored the critical role that the Association of Southeast Asian Nations (ASEAN) plays in ensuring a peaceful, stable and prosperous Indo-Pacific, Prime Minister Christopher Luxon says. "My first participation in an EAS has been a valuable opportunity to engage ...
Workplace Relations and Safety Minister Brooke van Velden says the feedback from the health and safety roadshow will help shape the future of health and safety in New Zealand and grow the economy. “New Zealand’s poorly performing health and safety system could be costing this country billions,” says Ms van ...
The Government has released the independent Advisory Group’s report on the 384 projects which applied to be listed in the Fast-track Approvals Bill, and further detail about the careful management of Ministers’ conflicts of interest, Infrastructure Minister Chris Bishop says. Independent Advisory Group Report The full report has now been ...
The Government Policy Statement (GPS) on electricity clearly sets out the Government’s role in delivering affordable and secure electricity at internationally competitive prices, Energy Minister Simeon Brown says.“New Zealand’s economic growth and prosperity relies on Kiwi households and businesses having access to affordable and secure electricity at internationally competitive prices. ...
The Government has broadly accepted the findings of the Royal Commission of Inquiry into Abuse in Care whilst continuing to consider and respond to its recommendations. “It is clear the Crown utterly failed thousands of brave New Zealanders. As a society and as the State we should have done better. ...
The brakes have been put on contractor and consultant spending and growth in the public service workforce, Finance Minister Nicola Willis says. “Workforce data released today shows spending on contractors and consultants fell by $274 million, or 13 per cent, across the public sector in the year to June 30. ...
The Crown accounts for the 2023/24 year underscore the need for the Government’s ongoing efforts to restore discipline to public spending, Finance Minister Nicola Willis says. The Financial Statements of the Government for the year ended 30 June 2024 were released today. They show net core Crown net debt at ...
Climate Change Minister Simon Watts will chair negotiations on carbon markets at this year’s United Nations Climate Change Conference (COP29) alongside Singapore’s Minister for Sustainability and Environment, Grace Fu. “Climate change is a global challenge, and it’s important for countries to be enabled to work together and support each other ...
A new confirmation of payments system in the banking sector will make it safer for Kiwis making bank transactions, Commerce and Consumer Affairs Minister Andrew Bayly says. “In my open letter to the banks in February, I outlined several of my expectations of the sector, including the introduction of a ...
Associate Health Minister with responsibility for Pharmac David Seymour is pleased to see Pharmac continue to increase availability of medicines for Kiwis with the Government’s largest ever investment in Pharmac. “Pharmac operates independently, but it must work within the budget constraints set by the Government,” says Mr Seymour. “When our ...
The Government has released its long-term vision to strengthen New Zealand’s disaster resilience and emergency management, Emergency Management and Recovery Minister Mark Mitchell announced today. “It’s clear from the North Island Severe Weather Events (NISWE) Inquiry, that our emergency management system was not fit-for-purpose,” Mr Mitchell says. “We’ve seen first-hand ...
Today’s cut in the Official Cash Rate (OCR) to 4.75 per cent is welcome news for families and businesses, Finance Minister Nicola Willis says. “Lower interest rates will provide much-needed relief for households and businesses, allowing families to keep more of their hard-earned money and increasing the opportunities for businesses ...
Sport & Recreation Minister Chris Bishop has asked Sport NZ to review and update its Guiding Principles for the Inclusion of Transgender People in Community Sport. “The Guiding Principles, published in 2022, were intended to be a helpful guide for sporting bodies grappling with a tricky issue. They are intended ...
The Coalition Government is restoring confidence to the rural sector by pausing the rollout of freshwater farm plans while changes are made to ensure the system is affordable and more practical for farmers and growers, Associate Environment Minister Andrew Hoggard and Agriculture Minister Todd McClay announced today. “Freshwater farm plans ...
The latest report from the Ministry for the Environment (MfE) and Stats NZ, Our air 2024, reveals that overall air quality in New Zealand is improving, Environment Minister Penny Simmonds and Statistics Minister Andrew Bayly say. “Air pollution levels have decreased in many parts of the country. New Zealand is ...
Climate Change Minister Simon Watts has announced the appointment of Stuart Horne as New Zealand’s Climate Change Ambassador. “I am pleased to welcome someone of Stuart’s calibre to this important role, given his expertise in foreign policy, trade, and economics, along with strong business connections,” Mr Watts says. “Stuart’s understanding ...
Health Minister Dr Shane Reti and Associate Health Minister Casey Costello have announced a pilot to increase childhood immunisations, by training the Whānau Āwhina Plunket workforce as vaccinators in locations where vaccine coverage is particularly low. The Government is investing up to $1 million for Health New Zealand to partner ...
The Government is looking at strengthening requirements for building professionals, including penalties, to ensure Kiwis have confidence in their biggest asset, Building and Construction Minister Chris Penk says “The Government is taking decisive action to make building easier and more affordable. If we want to tackle our chronic undersupply of houses ...
The Government is taking further action to tackle the unacceptable wait times facing people trying to sit their driver licence test by temporarily extending the amount of time people can drive on overseas licences from 12 months to 18 months, Transport Minister Simeon Brown says. “The previous government removed fees for ...
The Government has reaffirmed its commitment to ensuring New Zealand is a safe and secure place to do business with the launch of new cyber security resources, Small Business and Manufacturing Minister Andrew Bayly says. “Cyber security is crucial for businesses, but it’s often discounted for more immediate business concerns. ...
Investment in Apprenticeship Boost will prioritise critical industries and targeted occupations that are essential to addressing New Zealand’s skills shortages and rebuilding the economy, Tertiary Education and Skills Minister Penny Simmonds and Social Development and Employment Minister Louise Upston say. “By focusing Apprenticeship Boost on first-year apprentices in targeted occupations, ...
Health Minister Dr Shane Reti has announced a funding boost for Palmerston North ED to reduce wait times and improve patient safety and care, as well as new national standards for moving acute patients through hospitals. “Wait times in emergency departments have deteriorated over the past six years and Palmerston ...
Health Minister Dr Shane Reti has announced a funding boost for Palmerston North ED to reduce wait times and improve patient safety and care, as well as new national standards for moving acute patients through hospitals. “Wait times in emergency departments have deteriorated over the past six years and Palmerston ...
Mehemea he pai mō te tangata, mahia! If it’s good for the people, get on with it! A $35 million Government investment will enable the delivery of 100 affordable rental homes in partnership with Waikato-Tainui, Associate Minister of Housing Tama Potaka says. Investment for the partnership, signed and announced today ...
This week’s inaugural Ethnic Xchange Symposium will explore the role that ethnic communities and businesses can play in rebuilding New Zealand’s economy, Ethnic Communities Minister Melissa Lee says. “One of my top priorities as Minister is unlocking the economic potential of New Zealand’s ethnic businesses,” says Ms Lee. “Ethnic communities ...
Prime Minister Christopher Luxon and Deputy Prime Minister and Foreign Minister Winston Peters are renewing New Zealand’s calls for restraint and de-escalation, on the first anniversary of the 7 October terrorist attacks on Israel. “New Zealand was horrified by the monstrous actions of Hamas against Israel a year ago today,” Mr Luxon says. ...
Kia uru kahikatea te tū. Projects referred for Fast-Track approval will help supercharge the Māori economy and realise the huge potential of Iwi and Māori assets, Māori Development Minister Tama Potaka says. Following robust and independent review, the Government has today announced 149 projects that have significant regional or national ...
The Fast-track Approvals Bill will list 22 renewable electricity projects with a combined capacity of 3 Gigawatts, which will help secure a clean, reliable and affordable supply of electricity across New Zealand, Energy Minister Simeon Brown says. “The Government has a goal of doubling New Zealand’s renewable electricity generation. The 22 ...
The Government has enabled fast-track consenting for 29 critical road, rail, and port projects across New Zealand to deliver these priority projects faster and boost economic growth, Transport Minister Simeon Brown says. “New Zealand has an infrastructure deficit, and our Government is working to fix it. Delivering the transport infrastructure Kiwis ...
The 149 projects released today for inclusion in the Government’s one-stop-shop Fast Track Approvals Bill will help rebuild the economy and fix our housing crisis, improve energy security, and address our infrastructure deficit, Minister for Infrastructure Chris Bishop says. “The 149 projects selected by the Government have significant regional or ...
A new multi-purpose recreation centre will provide a valuable wellbeing hub for residents and visitors to Ruakākā in Northland, Regional Development Minister Shane Jones says. The Ruakākā Recreation Centre, officially opened today, includes separate areas for a gymnasium, a community health space and meeting rooms made possible with support of ...
Agriculture Minister Todd McClay, and Rural Communities Minister Mark Patterson announced up to $50,000 in additional Government support for farmers and growers across Southland and parts of Otago as challenging spring weather conditions have been classified a medium-scale adverse event. “The relentless wet weather has been tough on farmers and ...
Trade and Agriculture Minister Todd McClay today welcomed a move by the European Commission to delay the implementation of the European Union’s Deforestation Regulation (EUDR) by 12 months, describing the proposal as a pragmatic step that will provide much-needed certainty for New Zealand exporters and ensure over $200 million in ...
The Government is taking decisive action in response to the Ministerial Inquiry into School Property, which concludes the way school property is delivered is not fit for purpose. “The school property portfolio is worth $30 billion, and it’s critically important it’s managed properly. This Government is taking a series of immediate actions ...
The Government has announced a new support programme for the residential construction market while the economy recovers, Housing Minister Chris Bishop and Building and Construction Minister Chris Penk say. “We know the residential development sector is vulnerable to economic downturns. The lead time for building houses is typically 18 ...
Environment Minister Penny Simmonds has confirmed the final appointee to the refreshed Environmental Protection Authority (EPA) board. “I am pleased to welcome Brett O’Riley to the EPA board,” Ms Simmonds says. “Brett is a seasoned business advisor with a long and distinguished career across the technology, tourism, and sustainable business ...
The Government has approved a $226.2 million package of resilience improvement projects for state highways and local roads across the country that will reduce the impact of severe weather events and create a more resilient and efficient road network, Transport Minister Simeon Brown says. “Our Government is committed to delivering ...
Kiwis will see fewer potholes on our roads with road rehabilitation set to more than double through the summer road maintenance programme to ensure that our roads are maintained to a safe and reliable standard, Transport Minister Simeon Brown says. “Increasing productivity to help rebuild our economy is a key ...
Foreign Minister Winston Peters has welcomed the announcement of Sir Jerry Mateparae as an independent moderator, to work with the Government of Papua New Guinea and the Autonomous Bougainville Government in resolving outstanding issues on Bougainville’s future. “New Zealand is an enduring friend to Papua New Guinea and the ...
This week marked the grim one-year anniversary of the surprise October 7 Hamas attack on Israel and the beginning of the Israeli war on Gaza — a conflict that has taken a devastating toll on journalists and media outlets in Palestine, reports the International Press Institute. In Gaza, Israeli strikes ...
Somewhere in the national museum’s vast storage facility sit 13 bug-eyed plastic figurines, most of them bought from The Warehouse. This is how they got there. If you have managed to avoid them so far, I wouldn’t be offended if you went and read about anything else instead. Funko Pops ...
Reese Witherspoon is co-writing a thriller with Harlan Coben. At first this annoyed books editor Claire Mabey, but then she did a full 180. Here’s why. I started off thinking I was going to write a dark tirade about celebrities hijacking publishing. But I’ve landed myself squarely on opposing turf ...
Voted out of Parliament in 2020, NZ First clawed its way back to more than 6 percent of the vote, guaranteeing seats in Parliament and at the negotiating table. ...
Christopher LuxonLook, I’ve been at a social function with Amanda, you might have seen the Instagram pictures we’ve been posting of us out and about, so I’ve not read the report into the sinking of the HMNZS Manawanui yet, or any of the briefing papers, which I would like to, ...
Comment: After a talk I gave recently, a member of the audience, concerned about the coalition Government’s high-handed dismissal of evidence and its avoidance of public scrutiny on many issues, described their style of governance as ‘arrogance combined with ignorance.’Its difficult to disagree. I have tried, for instance, and failed ...
Two words uttered during a phone call home inspired an AI expert to create an app that can detect brain injuries.“I said, ‘hi mum’ and she said, ‘ okay, what’s wrong?’. It was just two words, how did my mum realise that I’m not in my best mood?” asks Sam ...
Even Ailsa’s hair is tired. Thin, split and hungry like the baby. He is five weeks old, with nothing you could call hair yet, just fuzz and dry skin, a sweet smell and sharp nails that Ailsa knows she needs to deal with before he scratches himself.And so far, no ...
Alex Casey talks to filmmaker Alexis Smith about documenting her journey to communicate with extraterrestrial life. It began with just a few sudden bursts of light. Filmmaker Alexis Smith had been lying on a trampoline with her friend for a few hours on Waiheke Island, and nothing had happened. Exasperated, ...
Former All Black and current Celebrity Treasure Island castaway Christian Cullen looks back on his life in TV. Every season of Celebrity Treasure Island brings with it a surprise breakout star, and often it’s the person you know the least about or have the lowest expectations for. This season, as ...
Madeleine Chapman reflects on the week that was. I will preface this newsletter by acknowledging that I have been old from the day I was born. I was born prematurely but was 10 and a half pounds. A friend once looked at a photo of me at two days old ...
It’s become an internet trope, but the art of girl rotting dates back at least to the 19th century. The Spinoff Essay showcases the best essayists in Aotearoa, on topics big and small. Made possible by the generous support of our members.I went for a walk after spending a day ...
The former Goldenhorse frontwoman shares her perfect weekend playlist. Kirsten Morrell recently finished reading Pip Williams’ The Bookbinder Of Jericho, a novel about women working in a man’s world, and what gets lost when knowledge is withheld. Reading is how the UK-born former Goldenhorse frontwoman enjoys spending her weekends, but ...
The government aims to slash costs without raising taxes, but will slashing spending boost long-term stability or cripple New Zealand’s growth? Bernard Hickey asks finance minister Nicola Willis to explain her thinking. The coalition government plans to significantly cut spending across health, housing and transport with the goal of ...
Comment: Having been badly mauled by the E tū union and the Employment Court for not carrying out proper staff consultation over earlier cutbacks TVNZ’s management is staying silent about its latest cost reduction strategy.The bungled axing of Sunday and Fair Go means no one outside TVNZ is privy to ...
Pacific Media Watch ABC’s The Pacific has gained rare access into West Papua, a region ruled by Indonesia that has been plagued by military violence and political unrest for decades. Now, as well as the long-running struggle for independence, some say the Melanesian region’s pristine environment is under threat by ...
By John Minto Published in the Christchurch Star newspaper yesterday — this was the advert rejected last week by Stuff, New Zealand’s major news website, by an editorial management which apparently thinks pro-Israel sympathies are more important than the industrial-scale slaughter of Palestinians in Gaza and Lebanon. Stuff told the ...
By Stefan Armbruster 0f BenarNews French Polynesia’s president and civil society leaders have called on the United Nations to bring France to the negotiating table and set a timetable for the decolonisation of the Pacific territory. More than a decade after the archipelago was re-listed for decolonisation by the UN ...
Analysis - RNZ understands the Cabinet Office would have eventually released it, but the narrative and claims of shady deals had grown loud enough to warrant getting it out earlier. ...
For an entire netball season, barely a hair’s breadth separated the country’s top two school sides, Howick College and Avondale College.Avondale may have been the defending national champions, but Howick seemed to have a slight upper hand each time they met – whether it was the final of the Auckland ...
11 October: An open letter has been launched, supported by 350 Aotearoa, Greenpeace and student unions, calling on Defence Minister Judith Collins to urgently task the NZDF with immediately deploying a cleanup team to Sāmoa, to plug any leaks and remove ...
Based on these results, National are down four seats on the last poll to 44, while Labour gains five to 38 seats. The Greens are down one seat to 13 while ACT is up one to 12 seats. New Zealand First are up one seat to nine from the last ...
The economic windfall promised by a seabed mine off Taranaki was an incentive to use the fast track, but the company’s own claims about its profitability have had to be retracted.On Monday, Manuka Resources claimed its Taranaki seabed mine would contribute a billion dollars a year towards New Zealand’s export ...
Source: The Conversation (Au and NZ) – By Jennifer King, Senior Clinical Lecturer, University of Sydney Halfpoint/Shutterstock As a urogynaecologist I care exclusively for women with pelvic floor problems. These are the women with leaking bladders and weak supporting tissues allowing the vaginal walls to bulge outside. Pelvic ...
Source: The Conversation (Au and NZ) – By Leoni Connah, Lecturer in International Relations, Flinders University This year’s local elections in India’s northernmost territory of Jammu and Kashmir were the first since the national government controversially stripped the region of its semi-autonomous status in 2019. It’s also the first local ...
Source: The Conversation (Au and NZ) – By Andrew Dowdy, Principal Research Scientist in Extreme Weather, The University of Melbourne Tropical cyclones, known as hurricanes and typhoons in other parts of the world, have caused huge damage in many places recently. The United States has just been hit by Hurricane ...
Source: The Conversation (Au and NZ) – By Ali Mamouri, Research fellow, Middle East Studies, Deakin University As Israel continues its assault on Hezbollah in Lebanon, Iran appears increasingly backed into a corner. Israel’s efforts to weaken Iran’s proxy network have focused on a number of objectives: eliminating key Hezbollah ...
Tara Ward watches TVNZ’s new local series about a group of teen delinquents sent to an unusual rehabilitation facility. This is an excerpt from our weekly pop culture newsletter Rec Room. Sign up here. TVNZ’s new teen comedy-drama begins like no other. A balaclava-clad teenager breaks into a fancy house and ...
A new poem by Zephyr Zhang. the dancer wavy air noodle flailing at the used car yard shake shake shaky shake it my tube bod writhes cosmic spaghetti on hot asphalt a flag in a hurricane waving to strangers in cars waving at shiny sedans ...
Dunedin reactions to proposed CGT:
CGT + interest rate rise = rent rise (++)
Dunedin has a unique mix of investment properties with a high proportion of student rentals. If rents get a double whammy from rising interest rates and CGT how much will it impact on Dunedin as an attractive proposition for education?
Students won’t buy properties in Dunedin if landlords decide it’s not worth investing here under CGT.
What does the presumed new Labour MP for Dunedin North think?
Good plug for Labour. No consideration for Dunedin North.
Come on David, are you standing for a party or an electorate?
Is National paying you to recycle these discredited FUD arguments all over the internet? This is what I gleaned:
– The wealthy Property Investors Assn wants to keep their tax free speculation profits
– Some people think they have the right to evade their tax obligations
– The suckers buying houses to live in ought to be shafted by a bubble economy and be grateful
– The bank will be stoked to have another Kiwi paying mortgage interest to its Aussie shareholders
– Landlords will be “forced” to put up rent (stop the press! landlord tries to increas rent!)
– It’s all so frightening I MUST USE CAPITAL LETTERS TO EMPHASISE that I might be taxed for money I gained WITHOUT DOING ANYTHING PRODUCTIVE
Breaking News – the President of the Otago Property Investors Assn doesn’t like a CGT!
A CGT closes a great big gaping hole in our tax regime that has enabled people to convert taxable income to non-taxable capital gain and therefore avoid paying tax. This is unfair and is a burden on all other taxpayers.
My previous boss had an annual income of $250,000 p.a. and boasted he never paid more than $10,000 p.a. in tax as he offset his income against his highly geared rental property portfolio.
Sure will – no more using property speculation to avoid income tax.
Need to do a bit more secret squirreling if a couple of quotes from vested interests is the best you can come up with.
A CGT closes a great big gaping hole in our tax regime
But will a CGT with a myriad of little holes do it?
I’ve looked for local comment because a change in emphasis on investment taxation could have a big impact on Dunedin. I’ll happily post different views on it, CGT deserves a good debate.
I don’t like Key dismissing it completely. That’s bad politics.
I’d prefer to see a CGT designed with expert input and wide electorate now, not tweaking or window dressing the final product, and not designed around potential voter groups in a party backroom.
A fundamental change to our tax system like this deserves far more than being an election year bribe and scare football. Doesn’t it?
So you’ve agreed that there is a great big gaping hole in the tax regime that needs to be fixed. Not doing anything about it is a bit like not building a dam because you’re worried there might be a few leaks.
Go on then do it.
It’s called policy actually and all being well it’s what elections should be won or lost on. Or would you prefer us to elect MPs on their looks or ability to “smile and wave”.
No dam is better than a dam with holes that you have no idea in advance how open they will get.
Policies are important for elections but it’s also important to have faith in those behind the policies, that they will consult and listen and respond, and not just emerge from a party back room with what they think is a vote winner and try to shut off valid criticism and debate.
A debate on something as big and important as a a major tax restructuring should last for more than a couple of weeks, shouldn’t it?
Trying to frame it now as “choose this or something else” is trying to shut down debate when it should only be starting,
“…it’s also important to have faith in those behind the policies, that they will consult and listen and respond…”
Riiiight. Like National do. Or like you do, here. Goodo.
“…and not just emerge from a party back room with what they think is a vote winner…”
It’s becoming apparent that your real problem with a CGT is that you think it’s a vote-winner too.
“Trying to frame it now as “choose this or something else” is trying to shut down debate when it should only be starting”
Actually this has been debated for decades. You’ve only just started to take notice now that you have to for political reasons, and if you’re too late to be involved that’s nobody’s fault but yours.
Said the little red hen.
Actually this has been debated for decades. You’ve only just started to take notice now that you have to for political reasons
I thought that was referring to the Labour Party, because according to Goff they only started to take notice this year when they decided they need to compete with asset sales policies.
Yeah, compete with asset sales.
You’re such a card.
Goff is the card. This is what he was reported as saying:
Your house of cards is a bit flimsy.
Trying to rely on a one liner to explain why Labour came up with a CGT communicates an ignorance of how policy priorities are chosen and the detailed process needed to forge policy which is strong and workable.
The CGT does a lot more than compete with National’s asset sales agenda, it demonstrates a willingness on Labour’s behalf to rebalance the entire economy and broaden the tax base, a process which Labour has explicitly said will take years.
English and Key on the other hand have a one hit asset sell off. Not much competition really.
And don’t you just cringe when Key and Co, keep on with the “kiwi mums and dads” line. I am a Kiwi Dad I and I don’t have any money saved, So Blinglish is deluding himself if he thinks that we can afford to go out and buy shares willy nilly just so he and his mates can have Tax cuts.
“I’ll happily post different views on it, CGT deserves a good debate”
Then why are all the views you post agin it?
As soon as you actually post some views favouring a CGT, you’ll be taken at your word that you’re all about the debate.
Based on the evidence to hand, however, no such conclusion can rationally be drawn.
Once again, your actions do not square with your words.
If you weren’t fixated on try to score wee points you would have noticed. Here’s a recent one:
http://thestandard.org.nz/reaction-to-labour-tax-package/#comment-352742
It’s your actions that don’t square with your words.
Right, the comment about how Morgan thinks Labour’s proposal is a poor one.
Yep you’re fair and balanced as a Fox.
If you bothered to see what he said, you’d know that he praised Labour for bringing CGT up, he criticised them for proposing a holey version, and he criticised National for turning their backs on it.
I’m not going to say “I love Labour’s proposal, there’s nothing at all wrong with it”. That’s not balance, that’s stupidity, which you seem to have woken up with today.
For the purposes of this particular discussion, which is about your motivations, I’m more interested in what you said, Pete.
Oh that’s right, you don’t say anything.
It seems to me that any would-be landlord who can’t make a normal profit should stay out of the market. The trouble is that 15% is not high enough to keep out punters who can’t make it work. I think I would set the rate to 90% with an abatement of 5 percentage points per year to 15% after 15 years. Hopefully this would keep out speculators, and renovators who want to pass off the fruits of their renovations as capital gains.
The real problem in the rental market is not the lack of a CGT but high property values, and perhaps high interest rates, which makes it difficult for landlords to make a normal profit.
[It seems to me that any would-be landlord who can’t make a normal profit should stay out of the market. The trouble is that 15% is not high enough to keep out punters who can’t make it work. I think I would set the rate to 90% with an abatement of 5 percentage points per year to 15% after 15 years. Hopefully this would keep out speculators, and renovators who want to pass off the fruits of their renovations as capital gains.]
It has actually been pointed out to me on another thread that a high rate is not actually needed for CGT to act as a deterrent, and it is clear to me that the pointer outer is correct. So I’m forced to retract all the stuff about a 90% tax rate. lol.
Secret Squirrel, or should I say Pete George..you forget that landlords have been hiking up rents and pricing a lot of people out of rental accommodation (not to mention becoming more choosy about who they rent to) for the past decade or so.
And I shall wager that with the changes to state housing being brought in, and thousands of vulnerable families being kicked off the HNZ waiting lists into the private sector, landlords will be taking that oppurtunity to put up rents even further (of course, the slum-lords union is mysteriously silent about that little issue) than they already are and than they could with a capital gains tax.
Of course, I think that the CGT should be spent on 1) expanding state housing back to pre-1991 levels, 2) higher accomodation supplements, and 3) low interest home loans for people.
In the mail this week: a letter from Anne Tolley stating that
* National plans to cut playcentre funding by 60%
* The govt prefers to fund places with qualified staff
* Submissions close at the end of August
WTF is happening with this nasty attack on community run organisations? Are mothers now required to do a (very expensive) ECE course just to have somewhere to take their kids to play with other children? Does Tolley realise that not everyone can afford fancy preschool daycare or kindergartens?
Can’t find this anywhere on parliament.nz to make a submission.
Oh yeah they are also pulling Dental Nurses out of primary schools?!
ropata I guess that Ann Tolley belongs to that school where children are valued for the clever things they can do to impress friends and rellies. That is why it is important to concentrate on the Education in Early Childhood Education. Kids should be forced forward, trained like show ponies, that’s more important than socialisation, confidence, physical skills and the use of ideas, imagination with craftwork all to be enjoyed rather than completed and measured to some standard.
In some Asian countries, I think I have heard recently about South Korea, the children suffer so much if they can’t achieve to their parents expectations that they commit suicide. I think that has been recorded here amongst some PI people. Parents who have not had much schooling themselves, and don’t understand what is involved can pressure their children beyond endurance. I don’t know if this happens particularly with girls, but often they have onerous household and child minding duties as well as trying to do homework and have high test results. I was reading about a NZ pupil on exchange in France, their school went from 8am to as late as 6pm.
Slightly off topic, but I think all ECE should be playcentres and kindergartens.
Not really keen on the tendency for profit run baby farms.
Even the Stuff National poll
http://www.stuff.co.nz/national/
is coming up with
Partial Asset Sales 46.9%,
Capital gains tax and higher top income tax 53.%
Given the expected bias from an internet poll that has to indicate at least a 10% margin in favour of Labours programme of looking after the many rather than the few.
Trade me poll
CGT no family home 63%
Sell shares in SOE 22%
Reduce Spending 11%
15% CGT across Board 4%
Time for Some Dance Lessons
A while ago, I decided to get some dance lessons. Don’t get me wrong; I can dance already, being a veritable master at the Twist and Funky Chicken. However it’s tap dancing that has always interested me… so I finally paid for some lessons, which are going superbly! There’s still a few months to practice before the big night, and a few spaces left in the tap dance class, so feel free to get your dancing shoes on as well.
Good on you. I’m not interested in tap dancing, but I think it’s good to get out and try new things, get involved and have a go.
Overcome the TV zombies.
You might want to read the entire article before you comment further SS.
Now that’s a big ask Jackal!
I know! 280 words is such a chore. Better to just comment on the lead in, it’s only 80.
Post Labour’s CGT launch assessment:
Phil Goff – Gravitas for Prime Minister
John Key – Gravy train of tax cuts & asset sales for self and mates
Unfortunately polls suggest most people don’t see him that way.
In most of his interviews (and yes, again launching Labour’s CGT) he looks uncomfortable with his message. He looks like he’s saying what he thinks he has to say, and not what he feels and believes.
He’s been in politics long enough to be familiar with dealing with media interviews, so can’t be inexperience.
Goff looks like the party that is dragging him in directions he’s not comfortable with. He doesn’t look like he believes in what he’s saying.
That’s Phil Goff’s biggest problem.
If he could run Labour his way and believe in what he’s doing he would do better, but there doesn’t seem to be much chance of that happening.
Pretty large assumptions to make there SS. It’s apparent that Phil Goff is running Labour properly, hence the unbalanced opinion shown on the Nation program today. The right wing program even said the CGT would apply to Christchurch houses, when they will initially be exempt. It’s one thing to tell only one side of the story, but to blatantly lie about a political parties policies is not acceptable.
It is Labour’s policies that people will vote for. There is already overwhelming support for the well constructed CGT from a wide range of the community. Such a tax will make many speculators vote National, and many more poor people vote Labour. There are more poor people than wealthy, National has made sure of that.
The other side of the coin is that people will now vote against National, because they have failed to deliver any of their promises. You can harp on about Goff’s mannerisms all you like SS, they beat John Key’s lies and failure hands down.
It’s apparent that Phil Goff is running Labour properly, hence the unbalanced opinion shown on the Nation program today.
Interesting comment jackal.
I noted on Thursday evening’s TV1 and TV3 news programmes (immediately after Labour’s announcement) that TV3’s coverage was much fairer and more balanced than TV1. In fact TV1’s coverage was blatantly partisan against Labour and the CGT tax. It suggests to me that the problem is not the respective TV stations as such, but rather the personnel who run the individual news and current affairs programmes.
Yeah but don’t forget that SS or Pete or what ever nom de plume he’s using at the moment, has had to stoop to name calling, because every other argument he tries to start is met with solid FACTS. See SS or Pete, FACTS not guesswork, or as in the case of Blinglish and KY Prayer. As in don’t have one!
This morning Kim on radionz was interviewing author –
Gerald Seymour: thrills and terror
British writer Gerald Seymour worked for many years as an international news reporter. His first thriller, ‘Harry’s Game’, was published in 1975; he has since written a further 25 bestsellers. His new book is ‘A Deniable Death’. (44′11″)
Interesting chap. He talked about the Balkans and the plight of the Muslims in the area affected by the Serbs’ rush of blood to the head and feet, and how hard it would be to improve the survivors’ life to normality, perhaps never in their lifetime. He wrote Harry’s Game about Northern Ireland and how violence is breaking out there again. (It was probably depression from seeing the infighting of Greek partisans once the Germans were dealt with that led to John Mulgan taking his life.) Old enmities, old traditions allowed to fester need cleaning out with a new mindset, a different approach to contested traditions.
Then Joky Hen says he isn’t interested in making any changes to the loyalty oath in our parliament because it is long-standing. Making small changes that allow for better relationships and meet ideas of fairness are necessary by wise, intelligent leaders of society. Which Joky Hen isn’t.
Post Labour’s CGT launch assessment:
Phil Goff – PM Gravitas
John Key – Cheekey Ass
Phil Goff – PM Gravitas
John Key – Smart Ass
Intermittent signal July 2011/4 (last11/7)
People in NZ doing things with ideas for a good future here.
Radio NZ today – Country Life
Making a Lifestyle Block Make Money
The Madsens own a beautiful home in a cluster of lifestyle blocks in North Auckland. They have a few pigs and a sheep on their one hectare of land. So far, so ordinary. But the couple have built a unique way of life by turning the idea of the unproductive lifestyle block on its head. They run a herd of 150 cattle, over a number of blocks. (duration: 11′23″)
Download: Ogg Vorbis MP3
and
A New Home for Koanga Institute and Gardens
For the past 25 years Kay Baxter and her husband Bob Corker have been saving New Zealand’s heritage fruit trees and vegetables at Koanga Gardens in Kaiwaka. But five years ago they decided they needed a new place to live so have found a new home near Wairoa where they’re developing a Community Land Trust which they hope will support up to 30 families. (duration: 22′03″)
Download: Ogg Vorbis MP3
and
Wool Based Disposable Nappies
Potroz-Smith Technologies is developing a super absorbent wool-based material called NatraZorb, to be used in disposable nappies, amongst other things. Derelee Potroz-Smith says the idea started on her family’s Taranaki farm with romney sheep. (duration: 6′11″)
Download: Ogg Vorbis MP3
Hi sysop. I cannot get an email to you from Contact . I think I have done everything right, studied and copied the convoluted cypher but no Send.
Worse Off Under National
Wasn’t Citizen A amusing last night. Cameron Slater squirming when put on the rack concerning his infamous gut shot comments re Arie Smith-Voorkamp was priceless. But then the ignoramus AKA Whaleoil made a most interesting revelation, which seems strange in context to his normal campaign of disinformation…
Meanwhile, in the USA
Personally I think that there will be a deal to raise the debt ceiling, and that a crisis will be averted. However it will involve slashing what is left of the USA’s social safety net and public sector. And quite a few more people will consigned into hardship, or worse. But really, what’s a few more in the scheme of things.
40 years ago, only Nixon could go to China. Now in 2011, only Obama could cut Social Security (and Medicare)
Republicans and Democrats are two sides of the same coin.
One possible outcome is that they increase the Federal Debt Limit but with no changes to entitlements or tax increases i.e. they just kick the can a bit further down the road. What do you reckon the chances are?
Nope cant see that happening. After all, folding to his opponents is what Obama does best.
Iwi aristocrats want to keep using foriegn vessels
Unemployment is skyrocketing among Maori youth, yet tribal leaders would rather employ fishing boat crews from overseas instead of purchasing their own boats and training up their young people to crew them.
Im guessing they would rather use the profits to dish out scholarships to family members and buy BMW’s.
If Hone wants any modicum of respect, then he should be highlighting this issue, instead of throwing his toys when he doesn’t get is own way when he is sworn in.
Would be interesting to identify which iwi in particular…
So the thin blue line (aka ‘the filth’) have performed another summary execution when they gunned down an admittedly troublesome person at the Headlands Hotel according to media reports….
“I am able to confirm that the man was challenged, a dog deployed, there was a struggle and Police discharged a firearm.”
The man died at the scene.
The police shot was the only shot fired, he said.
The man’s gun had not yet been found.
A knife was found near his body, Mr Handcock said.”
What are tasers and pepper for? Oh thats right, they are to ensure compliance not end this sort of situation in a non lethal way. The fact is whenever the pigs draw a firearm prepare to die as they are trained to aim at the torso only, ie shoot to kill. Fer crissakes they had 30 plus special coppers hanging around and it just looks like a grotesque training exercise given the forces involved.
I hope they got it right.
We are not in Afghanistan.
http://www.stuff.co.nz/national/crime/5295727/Police-shoot-gunman-Anthony-Ratahi-dead
Really?
The stand-off began last night, when Ratahi stormed into the hotel’s restaurant and pulled out a rifle.
“He was yelling at us to get out and I just yelled at the girls to move, move, move and we all ran for the front door,” said witness Kathy Muggeridge.
“As soon as the guy saw police approaching he pulled out a gun and that was when he pointed it … and told us to go.”
Witnesses said they saw the gunman beating up a waitress and dragging her across the floor.
Inspector Pat Handcock told media the man was shot once and died at the scene. He was armed with what was thought to be a handgun.
Ratahi has previously been charged with assaulting a woman using a knife and injuring with intent to cause grievous bodily harm.
Early this morning, the man could be heard yelling at police.
”You come over here, sonny boy – I’ll shoot you first,” he said.
Yeah thats right when someones got a firearm its reasonable to use a taser and pepper spray on them
I know this might be a foriegn concept but maybe in future:
Don’t kidnap people
Don’t beat up women (actually don’t beat up anybody)
Don’t threaten people with a firearm
Don’t threaten the police with a firearm
Give yourself up when challenged by the police
It is really difficult to follow the logic of John Key & the Nats in relation to a CGT. Is the guy actually thinking lucidly or groping around for some solid arguments against the tax.
I heard him on the radio today stating how ‘NZ needs more tax payers, not a new tax’. Has it escaped his attention that a CGT is about broadening the tax base and bringing into the tax system parts of the economy which are not taxed at present. Ipso facto, more tax payers.
On the news tonight Bill English states that people not paying tax on income earned is ok whereas the likes of Selwyn pellett and Gareth Morgan are both saying they should be paying tax on hitherto untaxed profits.
The Nats have really struggling to be coherent at the moment.
They are shotgunning lines to the public to see what hits the target.
Basically, they are picking random words out of a dictionary to see if something works.
Should be pretty obvious to all now that they have now plan, no clue, for most New Zealanders.
That sounds right.
At the rate they are going, they can be their own target.
Along the lines of my comments further above and more succinctly:
Phil Goff: Gravitas
John Key (donkey): Ass
How do you tell when legislation is a good idea?
Conservatives oppose it on the flimsiest of grounds
http://www.stuff.co.nz/national/politics/5294798/Labour-site-victim-of-high-speed-morons
Seriously Labour stop using the internet untill you find someone who knows what they’re doing