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New Zealand rental townhouses

Having just taken a trip north for the first time in years, I was enormously impressed with the amount of building going on everywhere. New houses in Taupo. A huge development in Pukekohe. Rows and rows of new houses in the Hamilton area and north of Auckland in places like Silverdale;  there are literally thousands of houses being built. Before we start congratulating the government, you need to realise that none of this has been started in the past year. It takes considerably more time than that to get these developments going. No. In spite of the government’s mantra, ‘nine years of neglect’, virtually all of this development work was started by the previous government.

So why, you may ask, are we spending in excess of $2 billion on the Kiwibuild scheme, when it is now becoming obvious that it was never needed?

Mike Hosking  has a few words to say about that, as you might expect. quote.

KiwiBuild has not had the best of weeks.

In fact, it didn’t have that great a week last week. Last week we got the news that you can flip your property and keep most of the profits – that was despite the Government originally saying you couldn’t.

We also got the news that KiwiBuild ballots have been extended due to lack of demand in some places. That, of course, was based on the fact that KiwiBuild isn’t a home programme for those locked out of the market as the Government told us it was: it’s for six-figure executives who actually have a lot of choice in the market anyway.

Then we find out this week that the $2 billion set aside to build the 100,000 homes isn’t within a mile of being enough. The Ministry of Business, Innovation and Employment says it’s out by about $18b.

The money set aside might build 1000 homes, not 100,000. So far you’ve got limited demand, prices too high and not enough start-up capital, which is why it’s become a buy off the plan scheme from developers – the Government doesn’t have the dough. end quote.

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Accountant. Boring. Loves tax. Needs to get out more. Loves the environment, but hates the Greens. Has been called a dinosaur. Wears it with pride.

To read my previous articles click on my name in blue.

Commenter of the week

Commenter of the week

Here at Whaleoil, we have a lot of talented people making comments on our posts all of the time.

So, every week, we shine a light on the person we think most deserves an accolade.

Please note this is not about just one comment. We are looking for more than that. We are looking for someone who regularly contributes constructively to our forum and to the messages we are trying to send.

This week, the Brexit agreement (or lack of it) rolls on, but Teresa May hangs on by her fingernails. It turns out that the immigration minister made the decision on Karel Sroubek’s residency in about 5 minutes without either legal advice or consultation with anyone from his department. It is so good to know we have such competent people running our country. Simon Bridges cannot even persuade his brother-in-law to stand by him, and the police are not allowed to take part in the Pride Festival wearing their uniforms. All the sponsors pulling out of this worthy event have got it wrong. The organisers don’t want the police in uniform… they want them buck naked instead, in all their pride and glory. What a spectacle that would be.

This week, our Commenter of the Week is…

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Accountant. Boring. Loves tax. Needs to get out more. Loves the environment, but hates the Greens. Has been called a dinosaur. Wears it with pride.

To read my previous articles click on my name in blue.

The All Blacks are sissies

Credit: Luke
All inclusive All Blacks

Stuff  reports: quote.

The All Blacks have become the latest rugby team to say they will be wearing rainbow laces in their boots this weekend in a show of support for Gareth Thomas after the former Wales captain was the victim of an anti-gay attack.

Thomas, who announced in 2009 he is gay, recorded a video last weekend saying he was assaulted in Cardiff in “a hate crime for my sexuality”. He had bruises on his face in the video. end quote.

I’m really sorry to hear that. It is a disgrace that he was attacked like this, particularly because of his sexual orientation. That is nobody’s business but to downgrade the All Blacks brand because of this is… well, it is just not cricket.

And it is definitely not rugby. quote.

The All Blacks end their season on Saturday (Sunday NZ Time) against Italy in Rome and at the captain’s run for the test Kieran Read said the side wanted to show their “solidarity” for Thomas.

“It’s great,” Read said. “Hopefully most of the lads will be wearing the rainbow laces and I think it’s just showing solidarity within world rugby and from us as New Zealanders and All Blacks to show support for that community.” end quote.

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Accountant. Boring. Loves tax. Needs to get out more. Loves the environment, but hates the Greens. Has been called a dinosaur. Wears it with pride.

To read my previous articles click on my name in blue.

Cullen responds on CGT

Michael Cullen has responded to criticism that the proposed rules on capital gains tax will require every small business to have a valuation done on the same date.

Well, of course it will… if CGT is introduced with effect from 1 April 2021, then you need a valuation for your business that is current and accurate as of that day. Otherwise, you may be disadvantaging yourself… or you may be overstating your business value, and that is not an ideal situation either.

But, as you might expect, Michael Cullen knows best. And once again, I ask the question. Would you buy a used car from Michael Cullen?

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Accountant. Boring. Loves tax. Needs to get out more. Loves the environment, but hates the Greens. Has been called a dinosaur. Wears it with pride.

To read my previous articles click on my name in blue.

The true costs of capital gains tax

Jacinda Ardern Taxes meme

Stuff  reports: quote.

If the Government manages to push through the recommendations of the Tax Working Group (TWG), the 450,000 or so small business owners in this country will be hit with massive compliance costs.

In order to implement Labour’s controversial capital gains tax (CGT), the TWG have proposed that every business in New Zealand must be valued by a professional valuation expert all on the same day.

This is not only ludicrously impractical, if not impossible, but the cost to be piled on businesses to comply with this will be horrendous and in some cases crippling. end quote.

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Accountant. Boring. Loves tax. Needs to get out more. Loves the environment, but hates the Greens. Has been called a dinosaur. Wears it with pride.

To read my previous articles click on my name in blue.

Jones tries to give solace to Taranaki

This government gave a strong signal that they were going to do something special for the regions. Then they cancelled all new oil and gas permits, and blindsided the Taranaki region.

Nice. Taranaki is in the regions, right? But I guess it was already doing too well. We can’t have that, can we?

Stuff  reports: quote.

A new industrial enterprise, with a pricetag of more than $1 billion, has been mooted for Taranaki with the potential of creating “significant” job opportunities. end quote.

You might have to move on this, Shane, as the oil and gas workers of Taranaki are rapidly finding that their skills are valued overseas. More jobs for your nephews, eh? quote.

During an interview with Newshub Nation on Saturday, Regional Economic Development Minister Shane Jones let slip about a project being broached in Taranaki by a group of investors known as 8 Rivers.

He said the idea had been “hawked around” stakeholders and civil leaders in the region and the investors had approached the coalition government for money to assess its feasibility.

Jones said no decision had been made about that aspect yet but he did rule out the Government funding the project if it went ahead, as the likely cost would be more than $1 billion.

While shy on detail, Jones called the new development “monumental” and would  “create hydrogen and create an output of urea”. end quote.

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Accountant. Boring. Loves tax. Needs to get out more. Loves the environment, but hates the Greens. Has been called a dinosaur. Wears it with pride.

To read my previous articles click on my name in blue.

Elective caesarians cause obesity?

Image credit: SB Whaleoil

Sometimes, you see something in the media, and you just know it is fiction. The intention is probably good, but the dishonesty is palpable. Here we go again. A newspaper reports. quote.

Babies born through scheduled – but not emergency – caesarean sections are more likely to be overweight by the time they’re a year old, new findings suggest.

The authors of the new study – among them, renowned paediatrician Professor Sir Peter Gluckman – say expectant parents should be advised how their choice of delivery could influence their babies’ risk of being overweight. end quote.

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Accountant. Boring. Loves tax. Needs to get out more. Loves the environment, but hates the Greens. Has been called a dinosaur. Wears it with pride.

To read my previous articles click on my name in blue.

Labour are now investment experts

The current government is showing itself to be a very poor steward of the New Zealand economy. Having trashed lucrative industries for no good reason, and having destroyed business confidence, it still has labour reforms sitting in the wings that will take us back to the heady days of the 1970s. Unfortunately, these guys have not finished yet. Now they want to use their considerable lack of experience to manage the NZ Super Fund. That is $40 billion of assets they are about to play with.

Would you trust David Parker with $40 billion? Personally, I wouldn’t buy a used car from him.

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Accountant. Boring. Loves tax. Needs to get out more. Loves the environment, but hates the Greens. Has been called a dinosaur. Wears it with pride.

To read my previous articles click on my name in blue.

Sroubek decision made by the immigration minister

And no one else…

Photoshopped image credit: Boondecker

So there was no magic. No hidden secret that would make us all go “Yeah, of course, a drug smuggling, wife beating, gang associate can stay here.” None at all. It seems that the immigration minister made the decision entirely on his own and as we know, he made it in five minutes flat, without much serious consideration at all. Stuff reports: quote.

The decision to grant Karel Sroubek residency rested solely on the Immigration Minister, new documents show.

But it has yet to be confirmed if Immigration Minister Iain Lees-Galloway based his decision on any implications the convicted drug smuggler’s safety was at risk if he returned to the Czech Republic. end quote.

Even though he has already been back to the Czech Republic during his time here? Even though the Czech Republic is an EU member state, with proper laws and security. Really? quote.

Immigration NZ general manager Stephen Dunstan told Stuff this month no recommendations were included in the file presented to the minister when considering the case, which Dunstan said was “at the absolute discretion of the decision-maker”. end quote.

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Accountant. Boring. Loves tax. Needs to get out more. Loves the environment, but hates the Greens. Has been called a dinosaur. Wears it with pride.

To read my previous articles click on my name in blue.

Jacinda preaching to the world

PM Jacinda Ardern and President Donald Trump

Cindy continues  to lecture the world. Even though she cannot fix the problems at home. quote.

This year, Jacinda Ardern’s message to the world has been consistent: globalisation hasn’t worked for everyone, but it can.

In her speech to the UN General Assembly in September, Ardern said every country and its citizens had been impacted by globalisation.

“While that impact has been positive for many, for others it has not. The transitions our economies have made have often been jarring, and the consequences harsh. end quote.

Like trashing the oil and gas industry at home, Cindy? Yes, that was definitely harsh. quote.

The theme for this year’s APEC, held in Port Moresby, was “Harnessing Inclusive Opportunities, Embracing the Digital Future”.

During an interview with the BBC, while in Singapore, Ardern spoke about the fallout from globalisation, along with the risks of protectionism.

“Now it’s a global market and with that comes a little bit of fear – fear around job security, fear about whether your children will have the same opportunities that you had,” she said. end quote.

The fear they feel in Taranaki now, do you mean, Cindy? quote.

“Our response as political leaders can be twofold: we can either capitalise on that fear by blaming others and saying that the answer is to become more and more insular; to become protectionist; to build up those walls around us so that we can retreat back to yesteryear. end quote.

Quick dig at Donald Trump there. We can never resist a good jibe, can we, Cindy? quote.

“The alternative is to give a message of hope.” end quote.

She’s really good at ‘hope’. I ‘hope’ I can bring down child poverty. I ‘hope’ we can solve the housing crisis. I ‘hope’ we can plant a billion trees. I ‘hope’ like hell that no one gets killed when we reopen the Pike River mine. That kind of ‘hope’? quote.

In the Regional Comprehensive Economic Partnership (RCEP) summit family photo, Ardern stands out. She’s one of only two female leaders, along with Aung San Suu Kyi. end quote.

Aah… who cares? Are there quotas there too? She is not exactly in great company. Aung San Suu Kyi is in trouble for largely ignoring the plight of the Rohingya Muslims in her own backyard. quote.

Ardern used the trip to raise the issue of women’s representation, as well as issues that plagued women and children across the Asia-Pacific region.

Papua New Guinea has no female MPs, and since gaining independence in 1975, the country has had seven female MPs. Globally, about 5 per cent of leaders are female. end quote.

In a country where only 13% of the population has access to electricity, might I suggest that there are far more pressing issues than the number of female MPs. quote.

New Zealand International Business Forum boss Stephen Jacobi said APEC’s voluntary and non-binding nature was its greatest strength and its greatest weakness.

Countries could use APEC as a place to try new things, develop new concepts, and exchange ideas.

While it took a while for APEC to deliver tangible results, it was a good way to focus on bigger picture issues – like inclusive trade and globalisation – at a high level.

“APEC sometimes gets a bad press for never delivering but it’s an important forum to have.” end quote.

Doesn’t that just sum up the modus operandi of this government? Let’s talk… let’s have a conversation…

We don’t actually achieve anything but let’s talk about it anyway.

 

Accountant. Boring. Loves tax. Needs to get out more. Loves the environment, but hates the Greens. Has been called a dinosaur. Wears it with pride.

To read my previous articles click on my name in blue.