Editors choice comments
Are our civil servants complete time wasters. Naive seat warmers. They will never control the dodgys with bureaucracy and half measures. We need to stop this stuff entirely, not try to monitor and supervise it.
I know I've never been sympathetic to the insurance community, but you'd think after all these years they would at least be a little tiny bit embarrassed that they have taken years of premiums but still not completed the job that's been paid for and promised. Not even a little tiny tiny bit? You'd think the goberment would be to.
Easy to point the finger at the insured, but reality is the companies have the power to complete things well within a reasonable (3yr?) time frame and have CHOSEN not to.
So I'm hoping the judge gives the people ever ting they ask and more, send e message, this is...by: redcows
Did you ever feel that you were in a lift that was about to fall and you weren't sure at what stage to jump out?
Re false economy: The New Zealand economy is truly just a housing market, plus a few cows. Nothing else comes close to 'houses".
If you can't cope with tenants, then you must have not done your due diligence on risk and ought to get out of residential rentals.
Right about insanity , but there are other ways of curbing lower interest rates feeding into housing prices , which seems to be the primary concern for most of us
We do need to cut the rate , BUT we need to slap a 10% transfer duty on houses bought , and 20% duty for foreigners AND we need to treat anyone with more than 3 negatively geared investment properties as a business and tax the profits on sale as if it were a business
Of course with an election looming , this wont happen
The last six OCR cuts since June 2015 have resulted in the lowest residential mortgage interest rates in 60 years - and have continued to fuel the housing price inflation - and have reduced any incentive for saving other than by investing in property - and have not yet reduced the TWI. A seventh OCR cut will likely fuel more housing price inflation and allow banks to further reduce overall savings deposit interest rates.
I generally support immigration, provided the benefits for NZ are AT LEAST as great as the benefits for the immigrants.
I think many immigrants really do 'give back' to NZ. More than half the staff at my mum's dementia home are immigrants - mainly Filipino and Indian - and without exception they are wonderful.
What I STRONGLY object to is immigration that uses NZ for the benefit of immigrants at the expense of the country. Good examples are immigrants who come here and set up businesses off the back of suspect money, or the parent scheme where the elderly parents provide little benefit to NZ...by: Fritz
I know someone this just happened too, and whilst I feel sorry for them, I also could see the lack of benefit to NZ of this policy and agree it should be stopped.
if the parents are skilled enough to gain the points and able to contribute to NZ on their own merit welcome, otherwise sorry we don't need you, that may seem harsh but our hospitals are straining with our current population we don't need more demand on them without a return
Has anyone considered the difference in the relative complexity of tax law vs dole law? Perhaps if we made the rate for all existing taxes in NZ 20% we would have a much simpler regime and it would be easier to detect tax evasion? (ie. 20% GST, 20% personal tax, 20% corporate tax, 20% trustee tax rate, 20% Fringe benefit tax, etc...)
Tax fraud needs to be sorted. Lots of money involved and the IRD is too far stretched to deal with it. They have very few people on the ground doing the basic work. There is a limit to dealing with fraud, if they only work through administrative means. They need to walk the beat.
David you are correct. Problem with national government is that they are always in denial mode be it homeless situation, housing crisis or immigration and when the situation goes too hot or are forced to act under pressure ( now election approaching) come up wil half baked solution as intent is missing.
For the layman: a 3 year old child breaks all the toys of other children and his own. Parents of the 1st child decide all the other children must pay for all the broken toys and their child is not to be punished. This goes on for several years and after a while the parents wonder 1) why the behaviour of their own child is not improving 2) why all the other children are unhappy. Now the parents are far too scared to upset their own child to stop the madness.
Anyone with me ?
“When the economy falls, there should be written on its tombstone: ‘Died of a Theory.'” ( thanks to Jefferson Davis for the concept)
It was interesting listening to the Chicago Fed guy on Q&A. They seem to be wanting to raise rates to give headroom to lower them for the next bubble. Looking back, the pattern has been that the easing to cope with one crisis gives rise to the asset bubble that causes the next crisis and so on. It seems to me that this is resulting in economic behaviour that, in engineering control theory terms, is symptomatic of a system with too much negative feedback. (i.e. they are cutting or raising interest rates too much in response to any particular circumstance) Typically, a system with...by: Chris-M
"What will happen when interest rates rise with so much debt?"
Very good question indeed. I believe central banks cannot increase interest rates significantly. Imagine the OCR returning to 4% with resulting bank interest rates of 6.5%. It would plunge the country into recession, so many borrowers couldn't meet their payments, mortgagee sales would be ubiquitous plunging property values, this means people would really stop spending, cafés, restaurants, clothes shops, all retail shops, car dealers etc would suffer big time, resulting in bankrupcies and many many staff layoffs who would then...by: Yvil
8 years of stuff all and all of a sudden they are promising the world... who would have guessed with an election coming up....
Labour/Greens annouce the vancouver tax before key beats you to it
by: Joe Public
Lets remind ourselves last time we heard this sort of talk before an election
Lets go back to 2007
Key: Speech to New Zealand Contractors Federation
Tuesday, 21 August 2007, 9:29 am
Speech: New Zealand National Party
John Key MP
Leader of the National Party
20 August 2007
Speech to Auckland branch
New Zealand Contractors Federation
Over the past few years a consensus has developed in New Zealand. We are facing a severe home affordability and ownership crisis. The crisis has reached dangerous levels in recent years and looks set to get worse.
This is an issue that should concern...by: Joe Public
Worth the paper it's written on. Anyone who has ever written a business case knows they are written backwards. You start with the answer you have to come up with then work backwards to the assumptions. The biggest assumption in this case is "if passenger growth continues at the same rate...". This is a huge assumption. Instinctively most people know that there is not an ever-expanding demand for transit to Auckland's CBD. So this business case would have had more credibility if the authors had commissioned independent research to establish the level of actual latent demand for train travel....by: Donald Ellis
Ah, I think this has changed since around July, its looks unlikely Auckland will be anywhere near 10% + grow in prices going forward. The Real Estate agents I speak with all say the market has gone flat ie 0%. One told me its the quietest hes seen in a number or years. I asked is it just investors not buying anymore and they said its across the board but good solid homes in good areas are still selling but investor/first home buyers are struggling.
Whether this is now the top of the cycle (with interest rates no longer going down) is too early to tell. Give it a few months. From what I have...by: economist
I have posted about this before.
Retirement isn't just about saving. It is also about reducing costs. Given housing takes up approximately 30% of the average persons budget it just doesn't make sense to rent for ever.
The smartest thing you can do for your retirement is buy a house and pay it off as quick as you can. The sooner you are Rent/Mortgage free the more you can save, and the lower your retirement costs will be.
Say rent is $250pw that is $13k pa. $260k across 20 years. But lets face it, When I retire in 30 years rent will be significantly more.
So, rent @$500pw = $520k across...by: Noncents
Forgive my ignorance , but wasn't the whole point of KiwiSaver to fund our retirement , to take the cost burden of superannuation off future taxpayers ?
... and here it is , prostituted into adding to the biggest property bubble in this country's history ... diverted into the most insane chase for tax-free capital gains via houses we've ever witnessed ....
by: Gummy Bear Hero
"Here in New Zealand there's currently no public push for such a grilling of our bank bosses."
I would say there would be a huge public push if:
a) The various agencies in existence to protect the New Zealand consumer pro-actively acted in the interests of the consumer to stop them from being screwed in the first place.
b) If the legal fight didn't bankrupt the average New Zealander (who gets no support from said agencies above)
c) You knew that any rulings against the bank would actually be severe enough to change their behaviour, and/or they would actually be enforced.
Visa says "Visa is in compliance with all applicable tax laws". I believe that to be true. But also that means it's time for Minister Woodhouse to change the tax law to something reasonable and fair.