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In a housing market where few new houses are being built, I don’t see how more small investors returning to the market is a good thing for anybody other than small investors. The signal no capital gains tax sends to the market is that property investors are to be encouraged because they are good for the economy. But as far as I can see, property investors simply soak up a lot of the available housing stock so it is not available for first home buyers. I don’t see what added value they add to the economy.
https://www.qv.co.nz/property-insights-blog/s
You! Ask too many questions! Come wiz me wiz your hands up!
The answer is that the flow of money above the consumer level gives the impression that we have an economy to invest in. And every action has a reaction in the multiplier, and brings in some sort of tax to NZ, we hope (not certain). Unnerstand!
Great to see plenty of money for council CEO’s $495,000 per year questionable overseas appointments for councils including $30k relocation bonus but no money for climate change or affordable housing! Yep the salary is more than Jacinda gets as PM of NZ and more than the PM of Canada!
“A quarter of Christchurch’s city councillors objected to the salary offered to their new chief executive – and three voted against her appointment.
Dawn Baxendale, who is stepping down from a similar role in England to take the job, will be paid $495,000 a year when she starts her new role – $80,000 more than predecessor Karleen Edwards.”
https://www.stuff.co.nz/the-press/news/114320164/incoming-christchurch-city-council-chief-executives-salary-divides-councillors
“The new chief executive of the Christchurch City Council has resigned from a council in England that has been criticised in a government-ordered report.
Dawn Baxendale is finishing up as head of the Birmingham City Council to take on the new role, replacing Karleen Edwards who left the job in June having come to the end of her five-year contract.
Mrs Baxendale, whose start date has yet to be confirmed, left a struggling council in the UK, only 16 months into the job.
Her council, the second largest in Europe, was criticised in a government-ordered report by the Birmingham Independent Improvement Panel, over its “denial, defensiveness and push-back about the extent of its problems, risks and challenges”.”
https://crux.org.nz/national-news/new-council-boss-leaving-behind-a-struggling-council-in-uk/
Time to end the CEO structure for councils and go back to just having an elected body of Mayors to run them and keep the rubbish going, NOT dream up more neoliberal ways to sell off assets, do frauds that the executives either are involved with or don’t notice, and make ratepayers pay more for less services!
This is interesting – support working in OZ earns $79,000 per annum and went to apply for support worker job in NZ, but found it pays $45,000-$50,000 but she found she would be approx $13,000+ in the red each year!
https://www.stuff.co.nz/national/113970162/can-i-really-afford-to-move-back-to-new-zealand-from-australia
extract
“What would I pay in taxes on an annual income of $50,000? I did a quick Google search and found I would get $39,784.68 in my hand a year, after tax and Kiwi Saver.
The average rent in New Zealand is much higher than what I would pay in mortgage repayments here in Western Australia, so I settled on an estimate of $500 per week. After that, I will have a car payment of $700 a month, taking living and car costs to a total of $32,400. If I was earning $50,000 a year, which I assume is what most organisations would offer, I am left with $7,3784.68.
Let’s calculate other expenses for the year. Please keep in mind this is a rough guide and I imagine my calculations may be quite conservative:
Power: $2,400
Fuel: $2,600, assuming I live close to work and don’t go far on weekends
Medical: $1,200
Phone and internet: $1,800
Groceries and dog food: $13,000
So far, my total is at $21,000. This is where I need to stop. I’m now well over what I am earning.
I haven’t even taken into consideration things like weekend’s away, trips overseas, eating out with friends or unexpected costs like a car break down. I haven’t even paid my car registration or WOF yet.”
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I’m guessing that the NZ taxpayer then tops that $13,000 up for local people with various benefits like accomodation supplement BUT the question remains, why do people in NZ earn so much less than OZ because if they cost of living was the same between OZ and NZ then she would have enough to live on without benefits but due to NZ low wage economy the employer does not top up her wages the NZ taxpayer does here or they can’t afford to live here!
The worker shortages are in part because the wages are too low to live on in NZ!
This has created the immigration Ponzi, as NZ adds in low waged workers who will never be able to earn enough taxes here to even provide for themselves so other tax payers subsidise their employers and agencies and their health, education, accomodation and WFF etc…
Time to get NZ wages up to OZ levels!
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