Tax overhaul: How far should the government go? - Video

Lowering personal tax rates, but raising GST? Thats just a case of robbing peter to pay paul or for the government to seem like they are helping us out but they're not. As for capital gains, yes there should be a tax bought in that would stop people buying houses doing them up then selling them 6 months later, the scale on which the tax should be based on the period of ownership and debt owed on the property e.g a house sold for $300,000 owned 3 years with a mortgage of $250,000 pays 4% of the $50,000, where as same house same mortgage same sale value but owned for 8 years pay 2% or something similar to that. Granted my suggestion is pretty rough, but it would seperate the people who renovate properties for profit from the average Joe who decided he wants a new house.

If there is any questions about how non independent this report is check out this article dated aug last year.

http://www.3news.co.nz/Radical-tax-reform-on-the-agenda/tabid/419/articleID/116258/Default.aspx

LOL independent report my left t@stic$e. Who commisioned this report and who payed for it to be done? National and us in that order. Time for a name change alien what litle crediblity you had has gone.

Surely all the Government really needs to do is reign in the tax dodgers? aka White collar thieves.

An example is the property 'investment', if you claim mortgage repayments against your income and gain a tax advantage when you sell up you are already supposed to be paying a 'capital gains tax' as you have run the property as a 'business' and thus need to pay tax on your additional 'income', even if the income is only realised a decade later at point of sale?

Yes Alien that is what sometimes happens, but as always... you miss the point completely.

Some of these "suggestions" will be adopted as we saw in Brash's 2025 report alot of those "suggestions" had already been put in place.

None of these "suggestions" however are in anyway of benefit to middle to low income New Zealand.

The only "suggestions" in here of benefit to anyone are aimed at business.

And I recall you jumping to the gun on the welfare issue and being slammed in the forums for it, so dont cast stones.

We know these are "suggestions", hence the name Stupid "Suggestions".

i take it the trade union don't realise this is an independent report? It is not the government saying they will compensate low income families, it is the report suggesting that. No one will know what the government will do until they announce it. People take these reports as being what will be done without realising it is just a report of suggestions.

If GST is increased and a land tax introduced I will definately not be voting for National again, for a very long time.

The tax working group most likely consisted of alot of rich people sitting around.

Their ideas have little merit, increase GST when families on middle to low incomes are already suffering? compensate low income people? where does that leave middle income apart from paying more taxes?.

And the proposed taxation on property investors is pathetic, introduce a tax rate of 38 percent on property investors or whatever the changed business tax rate is going to be.

That way it will discourage them from being in the property market and prices will fall to reasonable levels where ordinary New Zealand families can again afford to own their own homes again.

The rich need to contribute more to the tax system and not be getting a free ride like they always do under National, but thats what happens when a wealthy man is in charge now isnt it.

This government has already done nothing but hurt middle to low income New Zealand and got away scott free on the allowance debacle that they are still all abusing.

People who think National gives a toss about ordinary New Zealanders need to wake up and smell the class distinctions that National love to put in place.

We pay more while they pay less in personal taxation, GST goes up for them but they get a break with a lowered tax rate.

I dont see how these suggestions do anything but give wealthy New Zealanders more money while hurting singles and families.