Quote Originally Posted by fungus pudding View Post
What needs are they? This nonsense flares up every time there is a property boom. It was rife in the Rowling/Muldoon era, and always forgotten when the inevitable crash comes. The current income tax laws are sufficient to clobber those who buy for profit on resale as opposed to investors. Trouble is the IRD gave up enforcing the rules a couple of decades back. No change is needed- the answer is already there.
"What needs are they" - We gotta stop so much borrowing from O/seas for the wrong reasons.
"Trouble is the IRD gave up enforcing the rules a couple of decades back." --Yep !!
So why wont Billy Smurf start swinging the big boot at the IRD.? --- Politics !!!
There again maybe after the Budget ??? who knows.
I do not wear the argument "Too hard to administer"
BB
PS I was a young player in the property market in Wgton until Bill Rowlings put the skids under me/us, Bob jones was right miffed.