Budget 2023

[donna]

We’ll what do we think of Grant’s budget 2023?

[donna]

No investment in business - unless you’re a gaming developer .

see the article below - it’s a must

We do not give any attention to the supply-side of our economy: those who make things that the rest of the world wants to buy.

In truth, we do the reverse. We place layers of restrictions on our productive economy, from the Resource Management Act and the Overseas Investment Act to the increasing complexity of our anti-money-laundering processes.

All of these things make doing business more expensive and, consequently, we do less of it.

…

we have pursued economic policies that reduce the return to innovation, risk-taking and entrepreneurship, and increase the returns to the artfully unproductive.

cheers

Donna

[Jeffa]

Interesting article, I agree with the author that we or should I say sheeple are just poor and not necessarily in a cost of living crisis

Now Instead of buying a Tesla or an IPhone, why not own a slice of the company, if inflation or demand will eventually drive up the cost of owning these imports,this keeps your income in line with more wealthier individuals of certain countries.

These companies worth hundreds of billions and trillions in the case of Apple sell us shit the sheeple don't need to make them feel good or should I say hide the shame of being in debt and broke

And when interest rates are eventually lowered, and trust me, they eventually will be, the sheeple will tick up a Tesla, an IPhone because debt will become cheaper.

This intern will increase my wealth, keeping inline with higher income or should I say higher networth individuals in wealthier countries.

We as a nation are basically slaves too Wall Street, I can't change the system, but at least I can be a slave owner.

https://www.instagram.com/reel/CsMJlGpo-pM/?igshid=MzRlODBiNWFlZA==

We all have those family members who pretend to be rich with a car they can't afford and the only time you hear from them is when they need something usually money

[McDuck]

We’ll what do we think of Grant’s budget 2023?

TBH, I only had a quick look at it.
Most of these budget things don't interest me.
I prefer to keep an eye on the big picture...
and that's set by intention and application, by ability and structures rather ,
- than how a few dollars are fluttered around in this direction or that.

In the words of a once famous - but now forgotten farmer called Mr Dagg...
" If I ruled the world, certain people will have to buck up their ideas about certain things".

"Go on then, smart A**", I hear you say,
"How would you do it"?

Well..
I honestly believe these governments..
be they red blue or green
are doing only about one fifth of what they need to do.

My main target would be to fine tune immigration, and education and transportation ..
etc, in a computer like - second by second way.
Dynamic, responsive.

My goal would be to get a smart,
independent, proud, wealthy resourceful nation to its optimum.
With good international and local relations.

Kind of like the manager of a huge university or international company.

The real fight (initially at least would be all the people embedded in the system with selfish vested interests).
Some bad habits die hard.
How to get them on your side and help you with all their skills and experience is a big challenge.

Probably get lots of small focus groups that report directly back to me.
Set up tight responsive structures, and constantly improve them.

Big sign on the wall.. "what was you ROI on that effort".
* Also have a team of seven bright young things to sit with me in every meeting to take over for when " I don't have any fuel left in my tank", and those days will come.
End of day half hour reviews with them to get their takes on things I missed.


One quick example.

I'd get 30% of the cars off the road.(initially).

Focus group report day:
Wednesday 6:30 Am.
Structured informal.

In person, just the leader, in my office.

Vocal delivery with written script stored later.

(Tea and biscuits provided).

Question one.
Where are people going at rush hour?

Style of answer.
General overview. main centers and one small town.
granularity level 1.
two paragraphs maximum.

Expected insight.
Vey little, just to get a taste of the thing.

Why?

You never know what you don't know until you have a go.
So go softly.

Objectives. No gridlock traffic.
Reduced emissions, for health reasons primarily.
Increase quality of life for people now wasting hours of their valuable time, energy, skills and spare money.

Theoretical tools.
Target car importation.
Reduce distance between points of travel by shifting locations of ends.
Give alternatives to reason for travel.
Tax incentives for companies to pick up employees in company provided minivans.
Thoroughly sweep roads of all non legal travel.
etc.

Ps: I thoroughly expect certain elements to initially try and work round the improvements .
Like trying to squeeze a balloon full of water, it always goes for the gaps.

This by the way is only a granularity level 2 overview.

This has been your morning rant by McDuck.
Thank you, and have a beautiful day.

[donna]

Hi All,

GRA has a Trust Tax Changes Webinar on tomorrow (Wednesday 24th May at 1pm).

Cheers,

Donna

[Perry]

Webinar needed?

My best guess is simple.

Some Trusts are passive Trusts and earn no income, so don't incur any tax liability of any sort. They are just a 'parking place' for a non-income-earning asset. Like a family home. Sequestration is the name of the game.

If a Trust is a trading Trust, then it has the usual income and expenses to tally at the end of the financial year.

To say it is a tax on Trusts is a lie. (No surprises there - they are politicians, who don't know what truth looks like.)

It is referred to as a tax on Trustee income, (a misnomer), but in reality it is not the income, rather the surplus / profit left, after expenses are deducted that may be taxed.

If the Trust has a surplus / makes a profit, then that profit is taxable as Trustee income but only if that profit retained in the Trust.

If all the Trust profit is distributed - which happens more often than not - then there is no profit retained in the Trust and so no Trustee income tax. The beneficiary of the Trust's distribution pays tax at their own [personal] tax rate.

[donna]

I’ve booked as it will be interesting to get GRA’s (accountants) take on it. Plus I find their webinars always have something that I didn’t know.

There’s Q & A too.

cheers
Donna

[donna]

I was on the GRA webinar earlier, and the LTC in a Trust is probably one of the worst outcomes. I'm waiting for GRA to publish their webinar on their website to confirm what I believe I heard. I think I heard all income will be taxed at 39%. However, don't hold me to this as I may have misheard or just gotten the information wrong. I'll put the webinar link in here once it's live.

cheers,

Donna

[Perry]

If it is indeed a tax on income, rather than profit, that's another egregious socialist theft, akin to the non-deductibility of interest. As the implementation date is 2024, it will only happen if the socio-commie Labour lot get re-elected.

[donna]

I have moved Sanya's post to a new discussion . https://www.propertytalk.com/forum/f...new-wealth-tax

cheers,

Donna