Ask a question about policy #1

Ask a question about policy #1

We are going to do our best to get back to as many questions about our tax policy as possible. If there is something you don't understand, ask question below and we will get back to you. Before posting a question please make sure you have read the FAQ's

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Taxing the elderly when they sell their homes

Why would you take away the right of the elderly to leave their home to their family? Shouldn't it be their right to choose whether they do or not and not be told to invest in businesses etc? Also, if they do sell when they're older, for whatever reason, how much are you going to tax them? I think this will just encourage them to sell earlier and put their funds into potentially unsafe investments as a number of elderly are not schooled very well on investment

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How will your tax policy affect a typical NZ sheep and beef farm?

We have a 650ha family owned and run sheep and beef farm, GV of around $3m, equity of $2.5m. Last few years average profit around $100k maybe less which isn't much when it needs to be divided up between several family members. So the farm is probably a fairly unproductive asset by your standards, would this mean it gets hammered with extra tax? Cheers

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Own a house

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How does this policy discourage land-banking?

There are empty sections on my street that have been empty for years. By targeting houses and not the land they're on, there doesn't seem to be any incentive for people to build or sell to someone who will build.

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Low/no income

Hi there, You've covered off over 65s with an IRD loan, but you haven't answered the question regarding low/no income households. I have family and friends under 65 in varying situations. Losing an income, permanent disability, redundancy, long term employment to name a few. They would have no ability to pay, and no bank would lend them money for this purpose. They're already struggling to pay rates, how will you deal with this group of non-retirees?

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Can you explain TOP's tax policy with a graph?

All economic policy should be readily explainable with a graph, otherwise it is simply too complex.

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How will this tax affect heritage properties?

Heritage properties may not be the most economically efficient use of available land/assets, but nevertheless contribute an intangible good to society. Won't it make it harder to justify conservation?

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Deemed rate

I know you're open to what the deemed rate should be but just wondering if you think it needs to be lower than say the return people can get on a TD with a bank? If not, it will mean savers are penalised slightly correct? But if so, then won't the rate be too low to make a big difference when interest rates are so low? I also realise most savers will benefit from an income tax reduction but not all. Thanks very much and keep up the good work.

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Wat is your view on having Organic public garden beds everywhere through towns

Over in a small town in Yorkshire they have done this To supply healthy food to poor families and the homeless. It could make huge difference in new Zealand especially here in Christchurch we have all this empty red zones why aren't we using that land to grow free food and could get local schools to look after the food so doesn't cost heaps and it's teaching them how to grow own food and to give service to the community

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Hi Wat is your view on tiny houses as a solution to our housing shortage

Hi there I'm wondering have you looked into tiny houses and setting up land to lease in sections to people wanting live in tiny houses basically sub divisions of tiny houses and set up as a social housing trust and use the money made go back into local economy like education I'm part of a tiny house committee starting up in Christchurch to try and make this a reality and also work with local concills to ease regulations on them but if someone like yourself was to make it a parliament issue it could change so many peoples lives tiny houses have already taken off over seas as a way to keep up with housing issues and make affordable housing for low income people one issue we still facing is getting banks onside to lend money ATM we only know of one and they only just started doing it this makes huge hurdle for people wanting to build there tiny house thank your for your time read my message I look forward to your response

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Net Equity Taxed? Interest Repayments Deducted from Income?

Hi Gareth. Would you please confirm that it is only a person's or business's total or net equity (asset valuations minus debts) that will be subject to the minimum income assessment. Will loan interest repayments be deducted for the purposes of calculating total income being generated by an asset (to then be compared with the minimum). -Matt

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