Along with 38 other countries.
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Thanks for the interesting link. Maybe Labour's tax review would canvas the Estonian system. Their flat tax system includes a property tax (on land value only) and a capital gains tax levied at the same rate as its corporation tax and its income tax (21%). Excluding tax on "improvements" to land, could help to encourage building.
Yes it is a very interesting tax system and Estonia is doing very well economically. Meanwhile, Taxinda admitted on radio today that it is possible that the family home will be taxed on capital gains if the owners die for example and relatives or others inherit it ! Not so clear cut really.
They had that policy earlier....but then I thought they dismissed it. It is all over the place. At least TOP is upfront in saying that the family home would be taxed. Should they get in, they definitely need to wait a term of office to sort it out and review it properly and put it to the electorate at the following election.
That will be in addition to the chunk they take as death duties, I presume. They really should clarify their intentions. There are many different forms of CGT and asset taxes. To say it will depend on some 'expert' report is nonsense. She knows what she wants and she'll know which experts think along the same lines.
Tax is one of those subjects that makes most people's eyes glaze over at the best of times. Those with assets are a bit more likely to take an interest, especially business people and Sharetrader posters! Home owners, maybe.
But there are apparently 550,000 renting households in NZ according to the below link, 60% of which get some sort of housing subsidy from the taxpayer. That is a lot of voters who are probably not too bothered about tax.
https://www.stuff.co.nz/business/pro...-rental-market
I am guessing that a high percentage of ST posters would be voters. It would be interesting to know what percentage of those tenants would be voters?
That is a hefty amount of subsidy. Does it contribute to property price inflation in a market where supply constraints (for example in Auckland) are a major issue? I imagine landlords would not like that subsidy to diminish...housing subsidy or landlord subsidy?
Anybody who buys goods and services has noticed GST. Whilst CGT may not necessarily affect tenants. Tax cuts could cause some concern with some voters if they think that welfare and services would be cut as a result.
Maybe, maybe not in the case of the Accommodation Supplement. There are two research papers referred to in the literature review linked below. One says no impact of the AS, one says some impact. From the summary in the link-
Findings from the literature review suggest that rents are determined by house prices
in the long run. It would therefore be incorrect to say that a housing supplement such
as the AS drives rent increases or is a determinant of rent increases. However, it is
clear from the evidence that an increase (decrease) in housing supplement is a factor
in increased (decreased) rental prices.
https://www.msd.govt.nz/documents/ab...es-housing.pdf
New Colmar Poll results out confirm Labour is getting ahead of National, those voters who like to be on the winning side are swapping over, thanks very much.
https://www.stuff.co.nz/national/pol...-remains-ahead
This is great news for lefties, great news for NZ's future. I see Jacinda has some regional employment ideas about using more local wood in NZ on projects like KiwiBuild, even if Winston thinks we've pinched some of his good policies.
National has been pinching Labour policies for long enough.
But all this feel-good stuff means the likelihood of a Labour/Green/Maori/NZFirst coalition is high. If voter sentiment keeps going the way it is, it'll be Labour/Green.
TV1 News video.