Labour / NZ First Government

[elZorro]

What rubbish. Tax is never assessed on income: it is paid on profit. Providing rental accomodation is a money making venture, although not classed as a business, therefore outgoings do not form part of the profit. Occupying your own dwelling is a whole different ballgame.
To claim this is a 'luxury' not afforded to home owners is absurd.

If you are suggesting landlords should be taxed on total rent, then rents would necessarily skyrocket, as much from increased costs to landlords as well as suffering from a dried up market.
If on the other hand you are suggesting that home owners be permitted to deduct such costs from whatever income they have, then the price of houses would be astronomical.

Neither. The status quo on business expenses is fine. Landlords run a business, just not a particularly productive one. But when a CGT is applied to landlords and all business owners at some minimal rate, from a start date in the future, there should be no squealing of unfairness from those who have already been working the tax system. I would guess it will only apply on the sale of the asset, so very little paperwork will be required, except at the start of such a scheme.

[fungus pudding]

Neither. The status quo on business expenses is fine. Landlords run a business, just not a particularly productive one. But when a CGT is applied to landlords and all business owners at some minimal rate, from a start date in the future, there should be no squealing of unfairness from those who have already been working the tax system. I would guess it will only apply on the sale of the asset, so very little paperwork will be required, except at the start of such a scheme.

Nothing wrong with CGT if designed properly, allows for rehabilitation and covers pvt. dwellings.

[elZorro]

Nothing wrong with CGT if designed properly, allows for rehabilitation and covers pvt. dwellings.

If it covered private dwellings it would have to be at a greatly reduced rate, otherwise it would certainly be unfair.

[westerly]

What rubbish. Tax is never assessed on income: .

It is if you are a worker. Terminology is important

CGT should not be applied to the family home, if you sell for whatever reason you would in most cases have to buy a replacement. Any capital gain would probably be needed to fund the replacement.

westerly

[Joshuatree]

Maybe the tax discussion should have its own thread?

Meanwhile i have heard the rumour that Judith Collins was indirectly involved in the NZR pipeline break looking for kauri to export to china but i have no idea if there is substance to this..

An accurate article here about the national party from here

English will make way, but not now

[elZorro]

Don't worry elZorro, the government is onto it and will be clamping down hard on landlords real soon.

(Wellington Trademe vacancy ads down 71% on same time last year. Landlords are watching. And acting.)

Presumably more properties are coming on the market for first-home buyers. It's not all bad.

[elZorro]

Maybe the tax discussion should have its own thread?

Meanwhile i have heard the rumour that Judith Collins was indirectly involved in the NZR pipeline break looking for kauri to export to china but i have no idea if there is substance to this..

An accurate article here about the national party from here

English will make way, but not now

Interesting, some good points in Jane Bowron's article. Although I think Jacinda counts herself lucky to be pregnant, and it's great the new job hasn't damaged her chances of having a family. So a bit of a nasty take from Jane there.

The CGT discussion is a big one, but not the only area of possible Labour policy that we'll be seeing more of. I'd prefer the thread to stay intact, the points of view of both sides are out now, and they won't change. The disingenuous efforts of FP and Gareth Morgan to apply CGT to homeowners, won't be politically acceptable. There has to be a better way to handle the situation.

[peat]

Meanwhile i have heard the rumour that Judith Collins was indirectly involved in the NZR pipeline break looking for kauri to export to china but i have no idea if there is substance to this..

Yeh I heard rumours of this slightly after the incident. Note that

The husband of Judith Collins, David Wong-Tung, is a director of the Oravida Group which exports New Zealand meat, wines, seafood, fruit, dairy products and swamp kauri to China.

Swamp kauri mining threat to rare orchid

http://www.nzherald.co.nz/northland-age/news/article.cfm?c_id=1503402&objectid=11322601

[elZorro]

Yeh I heard rumours of this slightly after the incident. Note that

The husband of Judith Collins, David Wong-Tung, is a director of the Oravida Group which exports New Zealand meat, wines, seafood, fruit, dairy products and swamp kauri to China.

Swamp kauri mining threat to rare orchid

http://www.nzherald.co.nz/northland-age/news/article.cfm?c_id=1503402&objectid=11322601

Some big numbers in the article, could be up to $400mill of swamp kauri held by Oravida at one stage. That certainly would make them a big player in the extraction. This goes back at least as far as 2012.

http://www.nzherald.co.nz/northern-a...ectid=11052197

[minimoke]

Maybe the tax discussion should have its own thread?

Meanwhile i have heard the rumour that Judith Collins was indirectly involved in the NZR pipeline break looking for kauri to export to china but i have no idea if there is substance to this..

Bwahahaha.

Really scraping the bottom of the pipeline there. I think you need new sources.

For a start NZ refinery can find no culprit. At best they spoke to 2 digger drivers who aren't implicated. Leaving one unknown digger driver. And this unknown person is somehow linked to Arvida who is linked to David Wong-Tung who is linked to Judith Collins.

Dont get me wrong, I have no times for Collins. But thats like say she is indirectly involved in the crash of the Dow because her husband is a director of a listed company and listed companies are over priced