flockofewes2 216 Report post Posted February 23, 2019 ' Labour left the economy in good shape in 2008. Treasury said so at the time in their briefing to the incoming government: A stable macroeconomic environment gives investors confidence in the New Zealand economy as a place to invest. It gives New Zealand businesses a degree of certainty for making business decisions. Successive governments have done a good job of getting the New Zealand economy in a position where it can respond well to economic shocks. Low levels of public debt allow freedom to look through short-term cyclical fluctuations and there is room to adjust monetary policy to support demand. Bill English said so too, on Dec 18 2008: “I want to stress that New Zealand starts from a reasonable position in dealing with the uncertainty of our economic outlook.” “In New Zealand we have room to respond. This is the rainy day that Government has been saving up for,” he told reporters at the Treasury briefing on the state of the economy and forecasts. Bill was still saying the same, in May 2010. The IMF agreed: [New Zealand] was better placed, in terms of its starting point going into the crisis, than many countries. The basic nature of its banking system, the floating exchange rate, and low Government debt should stand it in good stead. … As well, “significant” stimulus from monetary and fiscal policy was happening, even if its full benefits had yet to be felt. “The average advanced country is starting with [government] debt of around 80 per cent of GDP,” Mr Brooks said. “New Zealand’s gross debt is around 20 per cent and in net terms it has positive financial assets. That’s important.” Labour oversaw a decade of growth. According to Reserve bank Governor Dr Allan Bollard in 2008… Quote Share this post Link to post Share on other sites More sharing options...
Ohokaman 5,763 Report post Posted February 23, 2019 You conveniently forget the small matter of several devastating Earthquakes.....and the associated cost.... Breeder and scooby3051 1 1 Quote Share this post Link to post Share on other sites More sharing options...
tripple alliance 1,007 Report post Posted February 23, 2019 5 hours ago, Ohokaman said: And this little diamond will affect thousands... https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12206285 Its not only the lifestyle block under threat , the family home is as well . Listening to a tax expert the other day it goes like this , Mum and Dad own the home , Dad dies , Mum gets the house , no tax , but when Mum dies whammo , the inheritance tax (in there somewhere, fine print ) hits the kids inheritance , so indirectly the family home is taxed . In the states interest paid on a family home is tax deductable for all home owners so over many years that's a big saving and a great head start and buffer against any tax charged when selling , not here . Now for the owner who races and then sells at an improved value that's capitol gain no difference to the small business person who builds a business up , creates improved value/goodwill and sells , they will both get hit . Socialism has always failed , its all about pulling people down rather than building people up . chevy86 1 Quote Share this post Link to post Share on other sites More sharing options...
barryb 2,062 Report post Posted February 23, 2019 3 hours ago, Ohokaman said: You conveniently forget the small matter of several devastating Earthquakes.....and the associated cost.... & a GFC, but a beneficiary wouldn't have a clue what you are talking about of course. napier 1 Quote Share this post Link to post Share on other sites More sharing options...
flockofewes2 216 Report post Posted February 23, 2019 the very people a lot of you seem to adore actually caused the GFC. That and the Chch earthquake are the reasons trotted out by the faithful for the Key Govt borrowing more in 9 years than the cumulative total of ALL Govts since Nz became a sovereign nation. I love the obedient clichés trotted out by the acolytes who have drunk the Kool aid..'spending other peoples money'..'we may be on the cusp of something ..special'...'a brighter future'...meaningless platitudes soaked up by the lockstep ,mindless ,segment of the population who actually believe that Capitalism is a level playing field. Corporate crony Capitalism is the order of the day..where would the wealthy be ..without it? Quote Share this post Link to post Share on other sites More sharing options...
Ohokaman 5,763 Report post Posted February 23, 2019 23 minutes ago, flockofewes2 said: the very people a lot of you seem to adore actually caused the GFC. That and the Chch earthquake are the reasons trotted out by the faithful for the Key Govt borrowing more in 9 years than the cumulative total of ALL Govts since Nz became a sovereign nation. I love the obedient clichés trotted out by the acolytes who have drunk the Kool aid..'spending other peoples money'..'we may be on the cusp of something ..special'...'a brighter future'...meaningless platitudes soaked up by the lockstep ,mindless ,segment of the population who actually believe that Capitalism is a level playing field. Corporate crony Capitalism is the order of the day..where would the wealthy be ..without it? Fuck me....you should join those other nutters on the Trump post...you'll fit right in. barryb 1 Quote Share this post Link to post Share on other sites More sharing options...
flockofewes2 216 Report post Posted February 23, 2019 5 minutes ago, Ohokaman said: Fuck me....you should join those other nutters on the Trump post...you'll fit right in. I see you are a very deep thinker,with profound thoughts. Quote Share this post Link to post Share on other sites More sharing options...
rdytdy 5,335 Report post Posted February 23, 2019 1 hour ago, flockofewes2 said: the very people a lot of you seem to adore actually caused the GFC. That and the Chch earthquake are the reasons trotted out by the faithful for the Key Govt borrowing more in 9 years than the cumulative total of ALL Govts since Nz became a sovereign nation. I love the obedient clichés trotted out by the acolytes who have drunk the Kool aid..'spending other peoples money'..'we may be on the cusp of something ..special'...'a brighter future'...meaningless platitudes soaked up by the lockstep ,mindless ,segment of the population who actually believe that Capitalism is a level playing field. Corporate crony Capitalism is the order of the day..where would the wealthy be ..without it? Of course Capitalism is not a level playing field. Capitalism always creates inequality.. it lifts all boats but some more than others. It is Socialism that creates the level playing field. Socialism always creates poverty and misery but equality for all.. I know which one I prefer. Midget and dock leaf 2 Quote Share this post Link to post Share on other sites More sharing options...
flockofewes2 216 Report post Posted February 23, 2019 8 hours ago, rdytdy said: Of course Capitalism is not a level playing field. Capitalism always creates inequality.. it lifts all boats but some more than others. It is Socialism that creates the level playing field. Socialism always creates poverty and misery but equality for all.. I know which one I prefer. 'a rising tide lifts all boats'.....trickledown theory....all more regurgitated nonsense.This is probably the wrong forum for a political discussion anyway. The level is apparent when the best argument the right wing fanbois can come up with is the puerile assertion that ...I live in a caravan and am a beneficiary.Hopeless. Quote Share this post Link to post Share on other sites More sharing options...
scooby3051 10,695 Report post Posted February 23, 2019 Come on guys this is a racing forum...take you political jousting to Main Street...cheers. Bronny 1 Quote Share this post Link to post Share on other sites More sharing options...
barryb 2,062 Report post Posted February 23, 2019 4 hours ago, flockofewes2 said: The level is apparent when the best argument the right wing fanbois can come up with is the puerile assertion that ...I live in a caravan and am a beneficiary.Hopeless. Are you a university theorist who wears roman sandals with white knee high socks, Hallensteins light brown walk shorts with a silver buckle, loves a grey cardigan, wears large circular glasses, drives a jap import Leaf & still live at home with your Mum and Grandma? Ohokaman 1 Quote Share this post Link to post Share on other sites More sharing options...
Kingshill 230 Report post Posted February 23, 2019 Just now, barryb said: drives a jap import Leaf Hey, Hey easy on bagging the Nissan Leaf's there mate The best car I have owned Quote Share this post Link to post Share on other sites More sharing options...
Ohokaman 5,763 Report post Posted February 23, 2019 5 minutes ago, Kingshill said: Hey, Hey easy on bagging the Nissan Leaf's there mate The best car I have owned Bugger in the wind tho Kingy.... Quote Share this post Link to post Share on other sites More sharing options...
crustyngrizzly 1,683 Report post Posted February 23, 2019 This CGT should it be implemented will certainly hammer horse trainers and studs when they want to sell especially if most of the barns,stable blocks etc are outside the 4500sqm of the house. Quote Share this post Link to post Share on other sites More sharing options...
flockofewes2 216 Report post Posted February 24, 2019 2 hours ago, barryb said: Are you a university theorist who wears roman sandals with white knee high socks, Hallensteins light brown walk shorts with a silver buckle, loves a grey cardigan, wears large circular glasses, drives a jap import Leaf & still live at home with your Mum and Grandma? No....and as a comedian you are the biggest flop since...Fosbury. Insider 1 Quote Share this post Link to post Share on other sites More sharing options...
Ohokaman 5,763 Report post Posted February 24, 2019 17 hours ago, flockofewes2 said: I see you are a very deep thinker,with profound thoughts. At least I think...... Quote Share this post Link to post Share on other sites More sharing options...
Leggy 4,010 Report post Posted February 24, 2019 2 hours ago, crustyngrizzly said: This CGT should it be implemented will certainly hammer horse trainers and studs when they want to sell especially if most of the barns,stable blocks etc are outside the 4500sqm of the house. Shouldn't capital gains on business property be taxed? Quote Share this post Link to post Share on other sites More sharing options...
crustyngrizzly 1,683 Report post Posted February 24, 2019 47 minutes ago, Leggy said: Shouldn't capital gains on business property be taxed? Yes,but is it at present. Quote Share this post Link to post Share on other sites More sharing options...
Leggy 4,010 Report post Posted February 24, 2019 31 minutes ago, crustyngrizzly said: Yes,but is it at present. Yes, including tax on recapture of any claimed depreciation . But a cgt might make that at a lower rate encouraging re- investment? Quote Share this post Link to post Share on other sites More sharing options...
crustyngrizzly 1,683 Report post Posted February 24, 2019 5 minutes ago, Leggy said: Yes, including tax on recapture of any claimed depreciation . But a cgt might make that at a lower rate? IMO we should do away with all taxes and introduce a low flat tax rate on everything of around 10%,and allow no deductions. Haven't done any research on it so it might be too simplistic. Quote Share this post Link to post Share on other sites More sharing options...
flockofewes2 216 Report post Posted February 24, 2019 5 hours ago, Ohokaman said: At least I think...... I'm sure you inspired Rodin...or maybe..not. Quote Share this post Link to post Share on other sites More sharing options...
Ohokaman 5,763 Report post Posted February 25, 2019 On 2/24/2019 at 8:43 PM, flockofewes2 said: I'm sure you inspired Rodin...or maybe..not. You certainly didn't...... Quote Share this post Link to post Share on other sites More sharing options...
flockofewes2 216 Report post Posted February 26, 2019 16 hours ago, Ohokaman said: You certainly didn't...... be surprised if you even know who Rodin is....its not a horse you...know. Quote Share this post Link to post Share on other sites More sharing options...
Tauhei Notts 1,403 Report post Posted February 26, 2019 On 2/22/2019 at 2:04 PM, poundforpound said: Thanks for avoiding the question with a beautiful swerve that’d have done Phil Bennet proud Mr Notts Please answer the questions again on the basis you’re a small time non GST registered horse investor / trader Gracias .... To summarise; if you are a small time breeder not registered for GST, then the horses are personal chattels and no capital gains tax will apply. Because the supercilious Michael Cullen said that personal chattels were exempt from the cgt. John Clydesdale suggests that my knowledge on tax matters is not up to date. Possibly there is a recent Taxation Review Authority case, that has thrown all precedents upon their collective heads, that I have not heard of. If so I would be grateful if he could be so kind as to cite such a case. Insider 1 Quote Share this post Link to post Share on other sites More sharing options...
WOODBINE 88 Report post Posted March 2, 2019 The appointment of Michael Cullen as Chairman of this independent group was certainly not independent as he is a Labour Party stalwart and has a predetermined view that CGT was required. As Chairman he would have controlled the discussion of this Group so this fact should be publicised. Another interesting question What position would the Labour Party be in if Jacinda was not their leader and PM.? My view is that the capital profit on the sale of any private racehorse will be subject to CGT just like it is in Australia. Quote Share this post Link to post Share on other sites More sharing options...