You are right, neo con https://en.wikipedia.org/wiki/Neoconservatism is not the policy of the one man university more likely "neo liberalism" is more correct.
Found the comments amusing. The video is questionable in its asumptions.
westerly
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You are right, neo con https://en.wikipedia.org/wiki/Neoconservatism is not the policy of the one man university more likely "neo liberalism" is more correct.
Found the comments amusing. The video is questionable in its asumptions.
westerly
I'm still confused why you would think the video is questionable? What the video tells me is a clear example of basic economics of "Paretal Optimal" (or Paretal Efficiency) where 1 person's benefit can NOT be achieved without the other person (or persons) losing. The person in the video that did the least work appeared to benefit from the loss of the harder working person of the much higher income.
Interesting statement in the context of your post. I take it as a vote of confidence into this proposal.
Just remember - many of Labour's core clientele would not have this option - and while they might enjoy in the short term seeing their "rich" neighbours taxed over the hilt - they might less enjoy when their welfare benefits are cut because the state is running out of money if the larger taxpayers are leaving the country in droves.
Interesting isn't it. My partner and I have recently had the discussion about moving our capital out of NZ if a CGT is imposed by this government. She has Australian and UK passports and I have a European passport so plenty of opportunities to go and put our money and capital in other jurisdictions that are more friendly to investment. Labour need to be careful what they wish for.
GCT may apply to the family home - as it stands at present
if you use a room(s) as an "office" and claim the expenses for it, you have a choice, don't claim the expenses and no GCT or claim them and you pay GCT - albeit based on the % of your home used say 1 room = 20% so you would pay GCT on 20% of the gain I presume - something like that
More detail here https://www.nzherald.co.nz/business/...ectid=12207150 ... if they have it right!
What is or is not a family home makes the family home exclusion a nightmare. Near where I live there are plenty of lifestyle blocks bigger than the 4500m threshold. Many have panted their sections with native bush - and to have smaller sections would spoil the environment. Many are newly reitired and would not want the hassle of having to value and apportion costs between exempt and non-exempt areas of their property.
it would be better to have no exemption and then to give a generous threshold to taxpayers.
During the National led party I saw their focus of welcoming migrants to NZ. Their immigration policy made it clear that those abroad (and many who are wealthy) to "Give NZ a Try". They passed tax laws that exempted income for 4 years upon residency / arrival in NZ. It was clear, NZ at that time welcomed investment and people into NZ. Now, it seems the Labour wants to do a 180 turn. Labour gov't needs to remember the very same people that brought $ to NZ as migrants, can easily leave back to their home country. I mean after all, when you balance things up, if the benefits are no longer available in NZ, then why stay? As for myself, the very things I hated about Canada, (long ago), i'm starting to see them happen in NZ now (regarding around taxation).
What i'm most concerned about is the details of the CGT. It's very simple. If the tax bite is too high.. excessive compared to other countries with no concessions or exemptions (that is common in other OCED nations), then I would be a fool to keep my family in NZ. I mean at the moment, it seems that the CGT proposed for NZ doesn't compare well to where I grew up in Canada (and Canada is a country well known for excessive taxation). My wife would in a heartbeat would give up her high paying job in NZ just to move to Canada. I do not believe my situation would be unique in NZ.
If this thing goes ahead it will be only a shadow of the current recommendations put forward by the tax working group, I think the current Govt has underestimated the resistance to a CGT.