Proposed Submission to the Tax Working Group 2018.

I've already made a more general submission about goals rather than details, thinking that's more likely to influence panel members than specifics that could raise objections from the bureaucracy. However it fits nicely with yours so I'm supportive.
Here it is:

The tax system needs to be structured so that people with the least wealth
(NOT income) find it easiest to improve their position and that becomes
progressively more difficult as wealth increases until at median wealth the
time required to pay off a mortgage is roughly equal to the average working
life, while the wealthiest find accumulation of more wealth quite difficult.
The details need to be chosen to steadily reduce inequality over a 20-30 year
period.

In my view taxation alone cannot achieve everything needed. There must also
be a major overhaul of banking, investment, share trading, debt management
and the way new money is created. World debt is rising faster than total
assets - see this article
https://srsroccoreport.com/total-world-debt-rising-nearly-three-times-fast-total-global-wealth/
and unless that imbalance is addressed the consequences are likely to cancel
out any taxation reforms that are only implemented in one country.

Thanks for that Mr Armstrong, nice to hear from you again. And I agree what you have submitted does align well. As I said I will submit this solo. I was thinking that a submission from a public think tank such as this could carry slightly more weight, if we cam get a consensus. I have no idea who the review panel is or whether trying to cover the most obvious questions this particular FTT and HT will raise, is the best approach..
But here goes.

Re : The link: https://srsroccoreport.com/total-world-debt-rising-nearly-three-times-fast-total-global-wealth/

Which represents the global arena in which we are tying to improve our local economy.
We, ( globally ) are in for trouble unless something drastic is done very soon.
The handling of the last crash was truly the biggest betrayal of the american people in favor of the banking elite, Why would president Obama not have payed out the mortgagees first , who would have in tern paid the banks ? The banks would still have got there money and no members of the the public need have lost there homes and live savings, a complete avoidable tragedy.. With Leadership like this who needs enemies.
Then the English did quantitative easing straight into the financial services sector and left its general population out of the loop, believing they might get trickle down. The IMF put Greece into austerity. And so it goes on , failure after failure.
Some have voiced that in history that a debt jubilee has been the traditional way of correcting the faulty system of debt /fiat when it fails, and this just seems not to be even taken seriously by any one , Others are toying with a UBI.
The debt based money system fraud truly is in trouble as the extractors and non productive sectors leach at ever more aggressive rates..
All of that is bleak to the point of despair. ( sorry to bring it up, but it must be faced) And so I am focusing on the local problems in the hope that some sanity can prevail at least here in NZ.

@alanforster I totally support the draft of DRAFT as at 31/03/2018 and would support a group submission. Good work.

@alanarmstrong thanks for your work also support your submission

Kia ora Pamela. I've been busy fighting Hobson's Pledge and finally getting some traction from LGNZ. The politicians don't want to touch it and that's mostly Winston's doing.

Hello Pamela. Thank you, I plan to wait a few weeks to see whether anyone else has input and then submit it. I think to be a group submission it needs at least a few of us on in agreement.. I will formally propose it shortly.

Hello
As the dead line for submission is due I have submitted the following version, personalty.
Thank you Alan and Pamela for your support but since there seems to be no other members of the group attending I did not submit it under the Aotearoa New Zealand civil society: Universal Kotahitanga name.
Also note that I took out the UBI component so as not to distract from the core aims.
You are of course welcome to copy and submit any part or whole yourselves.
Thanks.
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Dual Taxation system.
The basic aim is to improve the tax system in order to.
1. Make the system fairer and address inequity.
2. Provide transparency to the system and prevent tax evasion and avoidance
3. Keep money in circulation rather than allowing excessive accumulation.
4. Fund all current government operations and services.
5. Fit within and modify the current system with least disruption.
6. Provide a rational and understandable system that is easily understood by all tax payers.
These would be achieved by converting or expanding the current GST system into a comprehensive FTT ( Financial Transaction Tax.) and establishing a Holding Tax (HT) on savings or holdings above a reasonable set limit. These two taxes would replace income tax, business tax on profit and the current GST system.

The FTT would apply to every transaction whether internal or international, in stocks, bonds, cash or electronic payments, and all monetised commodities. By widening the catchment in this way the tax burden can be reduced on the individual.

Businesses and banks remain in there current tax collection rolls, with the addition of managing the HT (Holding Tax) by banks, overseen by IRD and the reserve bank as it is now.
The FTT and HT taxes could be adjusted on a regular basis as necessary to stabilise the economy.
It could be applied at a rate that equals the current tax take A FTT would provide a simpler mechanism of government control and more accurate monitoring the economy.
Since all activities are included in the FTT system it will be more transparent with regard to criminal and unethical uses of money , while the HT also makes storage of such funds in the banking system unattractive.
The levels at which HT starts for individuals and companies would be different and a formula for setting these would need to be researched .
It is not desirable to have exemptions to either of the taxation methods, some may feel disadvantaged by them and their concerns would need addressing in the context of the greater good, This text is introductory and much more work would need doing to verify its validity however the people I have spoken to about these see these changes as a positive way forward for the New Zealand economy. Thank you for your time, Please do not hesitate to contact me for more information.

Regards
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Yesterday Scoop sent me an invitation to join their HiveMind on submissions and I did. It's a collective of submitters who add their own short proposal to an anonymous pool and the rest of us get to vote individually on each idea. There's a graphic output chart I'm still figuring out but it includes feedback on the support or otherwise for each idea.

It looks promising - here's the link if you want to join in:

http://www.scoop.co.nz/stories/HL1804/S00054/fair-enough-how-should-new-zealanders-be-taxed.htm?5