Sir Michael Cullen says he´s rich (a rich prick no doubt) now as he´s earned a lot more since leaving Parliament, from his multiple and nice Government appointed roles !! Suspect he still votes the Left but one never knows with him !!
Printable View
Doesn't take a genius to look up electoral results for well off areas like Epsom , Tamaki to see that they are decidedly right voting.
http://www.stuff.co.nz/national/poli...nked-to-income
Fom MSM reporting of todays announcements
"The TWG's interim recommendation is that if the Government was to widen the taxation of capital gains, it should do so by extending income tax to more forms of capital gains – rather than introducing a new tax as such, he said.Tax could apply either when people sold assets such as investment properties or shares, or a second option was that people could be required to pay tax more regularly on the value of money they had invested – in a similar way to how some investments in foreign shares is currently taxed – he said.
In either case tax would only apply to assets bought after the tax came in, Cullen said, rather than assets they already owned."
So just hinting at normal income tax for capital gains. Then the question will be what, if anything, will be excluded ? Private homes, inheritance etc etc
IN the Netherlands you are taxed each year from memory 4% on the value of your assets outside your home on anything over 25k Euro. That is a killer if you want to invest in equities or anything for that matter like a second home. I hope the COL do not get stupid ideas like that.
Does any body has link to how to work out WACC with share trading please?
I think a CGT on shares (without a CGT on the family home or PIEs) would further reduce NZers share investments in favour of building up the nest eggg of an expensive home. It is not as though share investment is prevalent in NZ in the first place.
The TWG should also address the fact that investors in fixed interest are currently taxed on the inflation aspect of their returns whilst other investments currently have tax free capital gains due to the impact of inflation.
However - realistically - in NZ the interests of individual investors who invest in shares will be given scant attention as there would not be many votes in it. Whereas the treatment of real estate will have greater electoral impact.
"However - realistically - in NZ the interests of individual investors who invest in shares will be given scant attention as there would not be many votes in it. Whereas the treatment of real estate will have greater electoral impact."
This is very depressing , but also so true :scared: