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  1. #231
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    Quote Originally Posted by TeslaGod View Post
    Obviously you don't understand how the wealthy especially in the U.S manage to avoid paying a CGT .

    I'll give you a hint

    I do exactly the same which is why I or they do not sell off real estate and land, or company shares for that matter.
    If you're talking about 'generational wealth transfer' in the US, those days are numbered. You need to get your facts straight! The US tax code is entirely different to IRD so you have a gross misunderstanding.

    https://www.mpamag.com/us/news/gener...vestors/253650

    The US has estate death taxes or deemed disposition of assets upon death. Something that NZ does not have. All references for the US resident point to a lowering of CGT but not an entire elimination of CGT upon deemed disposition. So please point to some meaningful references before you make false claims.

  2. #232
    Senior Member TeslaGod's Avatar
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    Quote Originally Posted by SBQ View Post
    If you're talking about 'generational wealth transfer' in the US, those days are numbered. You need to get your facts straight! The US tax code is entirely different to IRD so you have a gross misunderstanding.

    https://www.mpamag.com/us/news/gener...vestors/253650

    The US has estate death taxes or deemed disposition of assets upon death. Something that NZ does not have. All references for the US resident point to a lowering of CGT but not an entire elimination of CGT upon deemed disposition. So please point to some meaningful references before you make false claims.
    No I'm not referring to generational wealth transfer.

    I'm referring to how they avoid a CGT and keep what they own.

    Like me, so a CGT if introduced into NZ would not affect me at all.

    Infact I get a tax rebate.

    Smart people don't earn there wealth by giving half of it away, I guess that's were me and you differ SBQ.
    Last edited by TeslaGod; 26-08-2021 at 10:22 PM.

  3. #233
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    Quote Originally Posted by TeslaGod View Post
    No I'm not referring to generational wealth transfer.

    I'm referring to how they avoid a CGT and keep what they own.

    Like me, so a CGT if introduced into NZ would not affect me at all.

    Infact I get a tax rebate.

    Smart people don't earn there wealth by giving half of it away, I guess that's were me and you differ SBQ.
    You have referred to nothing in how a US resident is exempted from paying CGT or income taxes. If you are referring to trusts, the IRS treats trusts no different to a separate entity and is taxed in the same way.

    https://www.wealthmanagement.com/hig...e-trusts-taxed

    Either the assets held by the individual or a trust or in a company, the IRS will apply taxation. The minute an asset such as a house or shares in a publicly traded company, is transferred, CGT does apply. But in NZ, IRD does not apply any tax on houses held for more than 10 years (and if demonstrated the intent is not for profiting).

    So Mr TeslaGod, show us some substance. You have a lot of waffle in your posts.

  4. #234
    Senior Member TeslaGod's Avatar
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    Quote Originally Posted by SBQ View Post
    You have referred to nothing in how a US resident is exempted from paying CGT or income taxes. If you are referring to trusts, the IRS treats trusts no different to a separate entity and is taxed in the same way.

    https://www.wealthmanagement.com/hig...e-trusts-taxed

    Either the assets held by the individual or a trust or in a company, the IRS will apply taxation. The minute an asset such as a house or shares in a publicly traded company, is transferred, CGT does apply. But in NZ, IRD does not apply any tax on houses held for more than 10 years (and if demonstrated the intent is not for profiting).

    So Mr TeslaGod, show us some substance. You have a lot of waffle in your posts.
    Well it looks like you spent all morning or all night searching Google to get your answer.

    That's what I pay my accountant and lawyer's to do.

    SBQ Wrong (as usual)

    I'll give you another hint

    It's impossible to be banned, taxed, or made illegal.

  5. #235
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    All go for the Sleepyhead town,re 1100 affordable homes to be built and a 100,000 Sq factory.Heaps of jobs.Took ages to get there,the regional council resisting change,amidst political posturing. Great it didn't end up going off shore.

  6. #236
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    Quote Originally Posted by Joshuatree View Post
    All go for the Sleepyhead town,re 1100 affordable homes to be built and a 100,000 Sq factory.Heaps of jobs.Took ages to get there,the regional council resisting change,amidst political posturing. Great it didn't end up going off shore.
    https://www.stuff.co.nz/business/127...s-racist-email

    The leftist racist supporters of Cindy attempt to cancel a business leader (Craig Turner) who shared ACT Dr Muriel Newman’s views & forwarded her email of Cindy’s hidden agenda to impose racist policies on all NZers.

    We see some posters here (like Joshuatree especially) attempting at every turn (to cancel) to do the same - so embarrassed & alarmed are they that their hidden agenda is being exposed for all to see.

  7. #237
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    Quote Originally Posted by Balance View Post
    https://www.stuff.co.nz/business/127...s-racist-email

    The leftist racist supporters of Cindy attempt to cancel a business leader (Craig Turner) who shared ACT Dr Muriel Newman’s views & forwarded her email of Cindy’s hidden agenda to impose racist policies on all NZers.

    We see some posters here (like Joshuatree especially) attempting at every turn (to cancel) to do the same - so embarrassed & alarmed are they that their hidden agenda is being exposed for all to see.
    jeez can't you just leave it balance - every thread there you are, blasting away

  8. #238
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    Quote Originally Posted by Balance View Post
    https://www.stuff.co.nz/business/127...s-racist-email

    The leftist racist supporters of Cindy attempt to cancel a business leader (Craig Turner) who shared ACT Dr Muriel Newman’s views & forwarded her email of Cindy’s hidden agenda to impose racist policies on all NZers.

    We see some posters here (like Joshuatree especially) attempting at every turn (to cancel) to do the same - so embarrassed & alarmed are they that their hidden agenda is being exposed for all to see.
    The link no longer works, here is new one...

    https://www.stuff.co.nz/business/127...s-racist-email

    I note that they do not address any of the material in the letter. Neither do they explain what makes the letter racist. In fact, the letter is pointing out preferential racial treatment that might be in the pipeline if the current government manages to pass legislation that they have signaled is their intent. Food for thought.

    How this relates to the thread though...

    Unless it is going to affect the development they are planning in TK?

  9. #239
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    Quote Originally Posted by arekaywhy View Post
    The link no longer works, here is new one...

    https://www.stuff.co.nz/business/127...s-racist-email

    I note that they do not address any of the material in the letter. Neither do they explain what makes the letter racist. In fact, the letter is pointing out preferential racial treatment that might ......
    ?? Is pointing out preferential racial treatment not explaining what makes the letter racist?

  10. #240
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    Quote Originally Posted by fungus pudding View Post
    ?? Is pointing out preferential racial treatment not explaining what makes the letter racist?
    No, that is merely stating what is in the letter. I'm not sure where you were going with that. Are you suggesting that the article merely saying what is in the letter amounts to explanation of why the letter is racist? Or are you saying that the letter is racist from your own perspective, as the letter is pointing out preferential racial treatment?

    What annoys me about these rags we used to call newspapers is the seemingly constant shouts of racism when pointing at some random thing. It is then left up to the reader to work out what the hell they are on about. Then, 9 times out of 10, it turns out that there was no racism there at all, or a perceived slight against someone when REALLY stretching and with some serious racism goggles on, or, even worse, it turns out to be a beat up on someone highlighting racist behavior towards white folks, or perpetrated by anyone other than white folks, which is of-course ok these days in the eyes of our leftist media.

    I get the feeling from the article that the latter is in play.

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