Word of the day

09/04/2021

Monomaniacal – suffering from, afflicted with, or relating to monomania; obsessed with a single subject or idea; fanatical, or obsessed with one cause or idea to the exclusion of other concerns.


Yes Sir Humphrey

09/04/2021


Rural round-up

09/04/2021

Federated Farmers sees MIQ opportunity for agriculture:

Federated Farmers hopes that the Government will take the opportunity of newly available space in MIQ quarantine to bring much-needed workers for the primary industries into New Zealand.

COVID-19 Response Minister Chris Hipkins estimates that the Australian quarantine-free travel bubble will free up 1000 to 1300 beds in MIQ a fortnight.

“MIQ spacing has been continually quoted as a barrier for getting the workers we need. With more beds becoming available it should now allow those with agricultural skills to enter the country,” Federated Farmers Immigration Spokesperson Chris Lewis says.

“With continued low unemployment and the majority of available workers remaining in the urban centres, all of the primary industries are crying out for labour.” . . 

Farmers take up resilience planning for future droughts – Hugh Cameron:

While the country may be heading into winter, the impact of another dry summer is fresh on the minds of some farmers. Some hit by drought say there are steps that can be taken to ease the pressure and planning should start now.

Parts of the Far North were once again hit by meteorological drought this summer. While it wasn’t as severe as the previous summer’s big dry that hit much of the country, it was a set-back for farmers, who were hoping to rebuild feed reserves and make a full recovery.

Chairperson of the Northland Rural Support Trust, Chris Neill, believed drought planning would become even more critical in the future. He encouraged farmers to make a risk management plan that gave them options when tough conditions hit again.

“I think there were some lessons learned last year, in fact there were a lot of lessons learned last year, about being prepared for these dry conditions given the predictions around changes in climate,” Neill said. . . 

A wave of cash is about to transform the agri market – Andrew Lamming:

We are in very interesting times right now.

There are some big forces about to play out in the main trading banks operating in New Zealand. We believe this will culminate into a wave of capital that the Agri sector hasn’t seen for the past 5-7 years.

That wave of capital coming to the Agri sector is going to have some interesting effects on asset values, funding costs and decision making. . .

New Zealand Shears – the show finally on the road:

Organisers of the New Zealand Shears are breathing a sigh of relief as they bounce-back from the cancellation of last year’s event to stage the 2021 championships starting in Te Kuiti tomorrow(Thursday).

More than 200 shearers and woolhandlers will compete in the three-day championships, which 12 months ago became one of the early casualties of the 2021 Covid-19 Level 4 lockdown – called-off for the first time since the New Zealand championships were resurrected initially as the new King Country Shears in 1985.

While a Level 2 alert which cancelled this year’s Golden Shears in Masterton at just four days’ notice a month ago sent shivers up the spines of every event organiser in New Zealand, New Zealand Shears president Claire Grainger said her committee was determined to go ahead, including discussing how it could if the alert had remained in place. . . 

Aussie shearers called to help out in UK but pandemic rules still a worry – Chris McLennan:

Australian and New Zealand shearers have now been given a special exemption to travel to the United Kingdom to help solve their shearer crisis.

Shearers are in demand across the world from pandemic bans on international travel.

Australia has a crisis of its own with the ban on New Zealand shearers traveling across the ditch during the pandemic.

Now international sheep shearing contractors have been given a special concession to travel into the UK. . . 

Freehold high country a rare find:

Extensive freehold station properties are a rare find in New Zealand today, and one’s offering multiple income opportunities even rarer.

Glazebrook Station, located 46km up the Waihopai River valley in Marlborough has a hard-won reputation as a superb hunting property offering international standard game hunting opportunities located approximately one hour from Blenheim airport.

Positioned in the river valley with sweeping high country that runs to 1,600m above sea level, the station’s landscape typifies the iconic vistas that are central to the southern psyche.

Bayleys Canterbury salesperson Garry Ottmann says purchase of the 8,877ha freehold property would mark a rare claim in today’s property market. . . 


Yes Sir Humphrey

09/04/2021


Stop tax increases by stealth

09/04/2021

National is seeking to stop tax increases by stealth:

National is committed to letting Kiwis keep more of what they earn and has proposed new legislation that will end tax hikes by stealth, Tauranga MP Simon Bridges says.

Mr Bridges’ Income Tax (Adjustment of Taxable Income Ranges) Amendment Bill, drawn from the Member’s Ballot today, will require tax thresholds to be adjusted every three years in line with the cost of living. This will mean that within a year, after every election, Treasury will advise the Government on how much the thresholds should be adjusted for inflation.

“This will stop New Zealanders moving into higher tax brackets even when their income isn’t keeping up with the rising cost of living, putting an end to inflation being an annual tax increase by stealth.

“New Zealanders will be able to keep more of what they earn, helping them stay on top of rising costs for necessities like petrol, rent and electricity.

“The Tax Working Group advised the Government that bracket creep could lead to as much as $1.7 billion in stealth tax increases in a given year. The Government is taking more than it needs, only to waste billions on bad spending.

If passed into law, this change will make a real difference, Mr Bridges says.

“It will mean Kiwis can keep more their own money in their own bank accounts,” Mr Bridges says.

“This law change shows how committed National is to helping New Zealanders get ahead.

“There is widespread agreement that bracket creep is a hidden tax increase on hard working New Zealanders, and I urge Finance Minister Grant Robertson to stop taxing Kiwis by stealth and wholeheartedly support this law change through all stages.”

The Taxpayers’ Union applauds the Bill:

. . . Union spokesman Louis Houlbrooke says, “From a taxpayer perspective, this is one of the most important private members’ bills we’ll see in our lifetime. For decades successive governments have exploited inflation to sneakily increase the average tax rates levied on New Zealanders. It’s a stealthy, dishonest tax hike that makes a liar of any politician who promises ‘no new taxes’.”

The Taxpayers’ Union has campaigned against bracket creep since 2016. In a submission to the Tax Working Group, the Union highlighted bracket creep as the ‘under-arm bowling of our tax system’, explaining: Inflation sees taxpayers’ nominal incomes, but not real incomes, increase. Because income tax thresholds are fixed, taxpayers face a higher proportion of their income lost to income tax, without any corresponding increase to their real income.

“Take our 30 percent income tax rate. When it was introduced in 2010 for income over $70,000, that was the equivalent of $83,000 in today’s money. That meant only high earners were hit. But today, $70,000 is an unremarkable salary. It’s atrocious that middle-income New Zealanders are forced to give up 30 percent of any pay rise to the taxman.”

“Labour has no good reason to block this bill. They’ve already rushed through unannounced taxes on housing, so they don’t need extra revenue. In fact, under Bridges’s bill, the Minister of Finance could still veto bracket adjustments on a case by case basis. Of course, he’d have to explain himself to New Zealanders, but he shouldn’t be afraid of accountability.”

Having no good reason to block the bill might not be enough to stop Labour doing that.

But if it is serious about its quest for wellbeing and the need for kindness, it will do the right thing and back this bill to stop the stealthy tax increases by adjusting thresholds in line with inflation.


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