Property investors are taxed on profit. There are no tax deductions for property investors, so no chance to abolish them.
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Yes, Season's Greetings to everyone, it'll be an interesting thread next year.
However, in answer to progressive taxes being better replaced with flat taxes, that has been tested on public perception and in general it doesn't go down well. There is a reason for progressive taxes being the chosen method throughout most of the world.
https://en.wikipedia.org/wiki/Progressive_tax
FP, you could compare NZ to Australia, where they have a more progressive income tax by far, plus a capital gains tax. If I were you, I'd be happy with the status quo.:)
Trump goes nuts again.
Oh, I'm perfectly happy thank-you, which is not to say our taxation system is as good as it could be. But I will admit to being puzzled by your mention of Australia as an example of a progressive tax system at work in an economy. Their economy is stuffed while ours is the envy of the world.
However we can agree on Trump. He's a benighted madman; a megalomaniacal narcissist, and that's an explosive dangerous combination.
So best wishes for Christmas, and here's hoping the Republican party can control Trump, although I very much doubt it............ but someone will.
As always this section of ST has been a lot of fun this year and 99% of comments in good humour, despite very different views and beliefs.. The new year will be an election year so I suspect even more fun then. Wish all posters a happy festive season and a good 2017.
Merry Christmas everyone- found a Christmas-themed political comment.
http://www.stuff.co.nz/entertainment...-gareth-morgan
Come Xmas 2017 no one will remember who Gareth Morgan was, other than that he wanted to kill cats and he was Sam Morgan's father and managed to make some money by going along for the ride with Sam.