If National wins ...

**elZorro** · 12-05-2014, 08:44 AM

Originally Posted by fungus pudding

Capital gains are mostly the result of inflation. All owners of non-depreciating assets benefit from inflation, so if CGT is a good idea which is debatable, there is no justification for exempting the primary residence.

Yes, there is plenty of justification, FP. Your own residence is usually a poor investment, if you were serious about writing down the true costs of that ownership. You maintain it more often, spend more on renovation, more on upkeep and gardens etc, and to top it all off you can't claim back the interest on the loan, or any repairs. That has to come out of your tax-paid income.

**slimwin** · 12-05-2014, 09:22 AM

Well this is ACT definiely off the voting list for me.

http://www.nzherald.co.nz/politics/n...ectid=11253278

**BlackPeter** · 12-05-2014, 09:32 AM

Originally Posted by slimwin

Well this is ACT definiely off the voting list for me.

http://www.nzherald.co.nz/politics/n...ectid=11253278

The article describes a number of ideas - which of them raised your ire? Are you against reducing taxes? Or are you against reducing wasteful state spending? Or is it the proposed sale of state assets (like banks), which shouldn't be run by bureaucrats anyway?

**fungus pudding** · 12-05-2014, 10:16 AM

Originally Posted by elZorro

Yes, there is plenty of justification, FP. Your own residence is usually a poor investment, if you were serious about writing down the true costs of that ownership. You maintain it more often, spend more on renovation, more on upkeep and gardens etc, and to top it all off you can't claim back the interest on the loan, or any repairs. That has to come out of your tax-paid income.

You obviously have never owned residential investment property. Believe me, the maintenance on them is massive compared to an owner occupied dwelling. I have long since lost interest in housing people - an activity that would drive the average man to drink. Of course you must pay your expenses out of your income, and under our present system that is taxed. All businesses pay tax on profit, and that is exactly what a landlord does. To suggest that costs being deductible is an advantage is silly. Is it an advantage to Countdown that they deduct the purchase cost of their stock, or their electricity account etc. from tax calculations? However if capital gained is seen as a profit and taxed as proposed by Labour/Greens why the exemption? That gives a homeowner an advantage over a tenant. CGT is proposed on shares, the batch, collectables etc. If they wanted the idea to work they could tax all CG equally, and this would allow a considerable drop in income tax rates; and taxing anyone for earning income is the silliest way of raising tax imaginable.

**slimwin** · 12-05-2014, 11:07 AM

The axing of govt departments to save a fixed amount without first evaluating what direct and indirect benefit they provide to the economy.

**slimwin** · 12-05-2014, 11:09 AM

To me if looks like a scatter gun approach to attract as many voters that have a Bee In their bonnet with some function of the govt.

**Sgt Pepper** · 12-05-2014, 12:18 PM

Dear all who contribute regularly. I would like to propose we submit a summary of how we predict the election result and what occurs say until this time next year. Be fun see who wins.
The criteria is
1. who forms the next government, and who will be
Prime Minister, Deputy PM, Finance Minister and Foreign Affairs Minister
2. Who will be leader and deputy leader of the National Party by June 2014
3. What will John Key be doing by June of 2015.

OK heres my prediction

1. The election, as with any MMP election will be tight, but Labour, much to everyones surprise, will form the next government with NZ First and Greens in coalition. David Cunliffe will be PM, Winston Peters will be Deputy PM, David Parker Finance Minister and Russel Norman will be Minister of Foreign Affairs

2. By June 2014 Paula Bennett will be leader of the National Party, her deputy will be Michael Woodhouse'

3.John Key: John Key will be offered and accept the appointment as NZ High Commissioner to London, or Ambassador to Washington. By way of explanation:
He has stated he has no desire to be Leader of the Opposition. By way of inducement he will also be offered a Knighthood, he will also ponder that Labour indicates that Knighthoods will be abolished by 2016. As an added sweetener the Knighthood will be given to him at Buckingham Palace. It doesn't take him long to decide, he decamps to Hawaii for a couple of months and then goes to London.

**Cuzzie** · 12-05-2014, 12:59 PM

Good grief SP your prediction is why National must win, however I would concede that if your prediction is correct, it would be a very comical one term Govt. Just a suggestion, how about making it a new thread so it doesn't get lost in this one. I'll subject my thoughts on the matter if you do.

**craic** · 12-05-2014, 01:04 PM

I know one thing. If John Key wants to consolidate the right and take some of the left with him, he should declare now that neither Winston Peters or Russell Norman will have any part in a National led Government. In the event that the inclusion of either is necessary to secure the treasury benches, then the National party will concede the election. He would then be in the position of standing back and letting Labour/MMP and what have you set fire ti their own arses.