I am no expert and this is certainly not advice, but even with a capital gains tax, wouldn't traders still be liable for income tax as their gains would still be regarded as assessable income rather than capital gains?
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News on the Herald...Labour wins...retirement n property stocks will be under pressure...I think property n retirement sectors will be under pressure till the change of government. The chart does not look good...Will go down possible 95c in next two weeks.
I am not sure if Labour would want to upset the tax ruling that the retirement sector rely upon. After all the profits from the sale of ORA help cross subsidise their care beds. With pay equity, and future relativity pay claims,the future provision of care beds may be more reliant on the operators who sell ORAs.
I would say they will want to crack down more on those that make money off property - ie all those unrealized gains, rather than those operators with thousands of staff helping (literally) take care of the elderly (not just sell them an expensive Auckland shoe box apartment retirement village, with no care component).
Those that are more care based could even find themselves with subsidies - we don't really know with this labour party, but we do know they like splashing cash everywhere and anywhere.
You're assuming here that they don't know already exactly what they intend to do. I believe they do and will be able to put it into place much more quickly than you would think. I don't believe for a moment that after 9 years in opposition that they do not know exactly what they want to do.
Show me where they are splashing money around more then national. i think its the other way around or at least the same. In fact national are more left then anyone atm, more right and all over the place in a desperate attempt to stay with carrots being chucked everywhere.. Fear mongering is the standard nat tactic re taxes etc. But remember who raised it 18 times after helen clarks govt with 9 strong fiscal years, national. labour don't want just a 3 year term they will not alienate the voters but they will improve more NZ'ers lives, thats a good thing, esp health for retirees.
Spending money - good
A 2,668m2 site on View Road to expand operations of Oceania’s Eden
That 2,668 sqm sounds huge .....but in old fashioned terms only 2/3rds of an acre
Suppose if you go high rise will get more than a few units on it
That is what Labour good at...keep borrowing n spending...