Sec 87A: small Rebate of income tax to Resident Individuals for AY 2014-15
Are you individual Tax payer?Read for savings in Income tax payable for Financial Year 2013-14 .ITax Sec 87A rebate..http://wp.me/p4sP68-4N
Are you an Individual Tax payer ?Do you have Taxable Income of Rs. 5 Lacs or less ?Read below for additional savings in Income tax payable for FY 2013-14
In Budget 2013 Finance Minister,Mr P Chidambaram did not make any alteration to the tax slabs for the individuals over AY 2013-14 but instead passed on a benefit by introducing a small rebate of max Rs.2000/- to the resident individuals only, in…
publishedPakistan Education News | CAP SSC HSSC BISE Date sheet result exams
PostBudget 2013-14
Budget tough on masses * Total outlay for Federal Budget 2013-14 stands at Rs 3.59 trillion with fiscal deficit of 8% * GDP growth rate projected at 4.8%; inflation 9.5%; revenue target set at Rs 2.475tr * GST raised from 16 to 17 percent * Pension up by 10%; minimum pension raised from Rs...
If we wanted a real left-wing Budget that would get everyone's attention, what about these 10 game changers?
1. Abolish 15 per cent GST. Replace with 1 per cent financial transaction tax as recommended by the New Zealand Bankers Association. Same money.
2. Abolish PAYE on wages and salaries. Replace it with a wealth tax and a capital gains tax when shares, businesses, land and property are sold. People are taxed when they're cashing up, not when they are making it.
3. 90 per cent Death Tax. You can't take it with you. Grown-up kids should earn their own money anyway.
4. Rent-to-buy homes underwritten by the state. Limiting homes to two a family and having a capital gains tax will keep prices affordable.
5. State-created work schemes for all long-term jobless.
6. A living wage set at $20 an hour minimum. It would be a stimulus package.
7. No tax on profits kept in a business.
8. Free public transport in major cities. That would get people out of their cars.
9. Victims get 100 per cent state compensation for loss or injury. Offenders work it off if necessary.
10. Make KiwiSaver a state-owned fund and buy all the Government's non-core commercial assets.
Matt McCarten's budget proposals.
I'd maintain a (low, i.e. 10%, & flat) PAYE tax on any earnings over NZ$20k, but otherwise agree with the proposal for a Capital Gains Tax. Whilst eliminating GST I would include a Luxury Tax on the purchase of items like an imported luxury car with walnut dash & leather seats, if you can afford excess entailed in such items, then you can afford to contribute a bit more to society - think about it: there's a big difference, necessity-wise, between potatoes & caviar. I also think that the Death Tax would need to be nuanced, because people don't always die when their kids are grown up, & sometimes those kids have various issues that mean they're still reliant to a greater or lesser degree on their parents - I know I'd be in a very awkward position right now.
The 2013 Budget includes a pledge for 39,000 building consents: the Auckland Housing Accord.
Sorry National, but you're really just ignoring the issue. Housing isn't expensive simply because councils aren't approving enough consents, anymore than because councils limit the amount of sprawl a city wants.
A major part of the problem is landlords who can pay the 'going' rate, buying up available housing stock & thereby keeping the market hot. Of course to recoup their costs & make a profit, they then need to charge high rent - which in turn makes it harder for potential first home buyers to save enough for a deposit.
As we live in a capitalist society, we cannot expect landlords not to increase their portfolios nor to charge the highest rent they can get. Similarly, we cannot expect developers, or private home sellers either, to not get the best price they can out of the market.
The only solutions are for the government to either assist with the provision or with the purchase of homes, or to to legislate against the purchase of property as investment. As the latter would no doubt be seen as an attack on individual rights (& would no doubt inevitably wind up with loopholes you could drive a removal truck through), it has to be the former; there are a number of ways to achieve this:
The govt. can boost the New Zealand Housing Corporation (NZHC) & provide many more affordable homes under to a rent to buy scheme.
The govt. can provide financial assistance to first home buyers to enable them to get that oft-touted 'foot-hold'.
The govt. can legislate requirements for x-percentage of 'affordable' homes per housing development.
The problem with all of these of course is that what are the assessment criteria for whether someone can be entitled to an 'affordable' home? Everywhere that there are policies similar to these, the poorest benefit (good), the wealthy remain unaffected (so what) but those not deemed 'poor enough' struggle the same as ever.
I guess that's the idea behind trying to 'flood' the market, & thereby force prices down. But as long as population growth outstrips construction & there are landlords excitedly increasing their portfolios, it is unlikely to serve any great purpose.
So we come back to the notion that bursting the property bubble would be best effected by saying that property is not a commodity, not an investment, not a portfolio. Then perhaps people would not need to get a 'foot-hold' because there would no longer be a 'ladder'. But that won't happen, not anytime soon, & if we can't burst the bubble, then it remains that the only thing we can do is attempt govt. intervention in the form of provision.
