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  1. #241
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    Scathing criticism of Helen Clark by a Geneva based UN Watchdog. And we wonder where Cindy learnt her trade?

    https://www.nzherald.co.nz/world/cov...MZM5RFLMXS3VY/

  2. #242
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    Quote Originally Posted by jonu View Post
    Scathing criticism of Helen Clark by a Geneva based UN Watchdog. And we wonder where Cindy learnt her trade?

    https://www.nzherald.co.nz/world/cov...MZM5RFLMXS3VY/
    UN Watch appears to be some sort of US based Jewish lobby group. Probably anti UN at every opportunity.

    westerly

  3. #243
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    The Cynical One in full flight here.

    https://www.stuff.co.nz/national/pol...pears-unlikely

    Note how she waffles and bulls***s her way around the issue. I wonder how Cynical Cindy would be treating this if it was a female victim. Keep being kind Cindy. You're such a guiding light of moral principles for the world to see. Go Cindy! Let's not do this! Let's keep moving. Next stop Ihumatao!

  4. #244
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    Housing affordability is going to crash this governments support if they're not careful.

    Don't they ever learn.
    For them to be looking at giving more money to first home buyers $5,000 or $10,000 Home start grant, is just going to push prices up by the same amount just like when they increased student accommodation allowances & landlords said thanks, we'll take that!

    It's reached crisis point, forget the separation of politics & Reserve Bank policy conventions. Govern.
    National's Andrew Bayly has sound arguments, require the $28B being pumped into the economy by the Reserve Bank to be ring fenced for productive parts of the economy such as building new houses & local businesses.

    There are cases being quoted on ST of people being turned down by their bank for a loan to invest in shares like OCA when it was recently at 68c (now 136) , but almost encouraged to borrow money to buy another investment property.

  5. #245
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    https://www.stuff.co.nz/national/pol...n-house-prices

    Cindy & her team of incompetents have no freaking idea what to do with the rampaging house prices - not a clue.

    Those of us with properties sit back and see our wealth multiple effortlessly -$100k, $500k - easy!

    Those who are trying to get into the property ladder cannot save fast enough to bridge the wealth multiplication quantum of rising house prices.

    Enjoy the benefits and pains of a Clueless Cindy all talk and no substance government - don't say you weren't told it would happen.

  6. #246
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    It takes a bit to pull the wool over the eyes of Barry Soper....the old dog has seen it all before.

    https://www.newstalkzb.co.nz/opinion...-of-ignorance/

    Note the comments about Mahuta as well. We're in for a rough ride on the diplomacy front with these naive fools in the saddle.

  7. #247
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    Quote Originally Posted by jonu View Post
    It takes a bit to pull the wool over the eyes of Barry Soper....the old dog has seen it all before.

    https://www.newstalkzb.co.nz/opinion...-of-ignorance/

    Note the comments about Mahuta as well. We're in for a rough ride on the diplomacy front with these naive fools in the saddle.
    What a bunny Chris Hipkins is turning out to be.

  8. #248
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    https://www.stuff.co.nz/business/opi...housing-market

    Rampaging house prices and Cindy is like a possum caught in the middle of the road with the headlights.

    But guess what?

    In Opposition, she was so concerned :

    Excerpt : "see Jacinda Ardern’s 2015 tweet: “John Key just told the gallery he doesn't think Auckland houses are over valued. THEY'RE EARNING MORE THAN PEOPLE!!! For the love of...”

    Not a clue - all spin and no delivery.

    Enjoying the massive increase in my property values, I am - pity about the mugs who voted for Cindy who thought she would deliver affordable housing for them.

  9. #249
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    Quote Originally Posted by Balance View Post
    ...
    Enjoying the massive increase in my property values, I am - pity about the mugs who voted for Cindy who thought she would deliver affordable housing for them.
    The lure of the treasury benches meant her concern was jettisoned!

    In the year to October 2020 the median house in Auckland rose in value by $140K….This gain when realised will remain untaxed in the hand of the owner-occupier. The biggest financial gain for the median house Auckland home owner* is coming from their house and not from their taxable income. Yet it is personal income which ironically Ardern wants to tax even more. Go figure!

    On the shelf behind her office chair, Ardern should swap the photo of PM Savage for PM Key.

    *...if they have been able to buy the house they live in, that is.
    Last edited by Bjauck; 22-11-2020 at 10:37 AM.

  10. #250
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    Quote Originally Posted by Bjauck View Post
    The lure of the treasury benches meant her concern was jettisoned!

    In the year to October 2020 the median house in Auckland rose in value by $140K….This gain when realised will remain untaxed in the hand of the owner-occupier. The biggest financial gain for the median house Auckland home owner* is coming from their house and not from their taxable income. Yet it is personal income which ironically Ardern wants to tax even more. Go figure!

    On the shelf behind her office chair, Ardern should swap the photo of PM Savage for PM Key.

    *...if they have been able to buy the house they live in, that is.
    For a owner-occupier the gain is largely irrelevant when the realise the gain (sell) as they will probably buy another house at a similarly inflated price.
    If you have more than one property then you are onto a winner.

  11. #251
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    https://www.interest.co.nz/opinion/1...sing-continues

    All talk and no substance.

    All spin and no delivery.

    That is Cindy - running out of excuses, and spin.

    “The current housing debate has a pathetic sense of déjà vu about it. Before the 2017 election Labour successfully hyped the then housing situation into a crisis and implied it had all the answers if elected to government.

    But now, one term of Labour-led government later, the situation is worse than ever. Housing prices have sky-rocketed, nowhere near enough houses are being built, and waiting lists for public housing have soared. And the responsibility for this deteriorating situation apparently lies with everyone else.”
    Last edited by Balance; 23-11-2020 at 08:36 AM.

  12. #252
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    Quote Originally Posted by dobby41 View Post
    For a owner-occupier the gain is largely irrelevant when the realise the gain (sell) as they will probably buy another house at a similarly inflated price.
    If you have more than one property then you are onto a winner.
    A fast rising market, tends to make progressing up the property ladder more difficult too?

    It becomes particularly relevant when the home owner sells their last residence and decides to invest elsewhere or pass their assets to beneficiaries they have selected. Then bias of the tax system becomes entrenched.

    It is an arbitrary distinction to tax gains from capital more leniently than gains from personal effort and other income. It is political expediency (currently anyway) and also an arbitrary distinction to treat financial equity (and annual benefit derived therefrom) in owner occupied housing differently from financial equity in taxable income producing assets. With the pricing of land currently, It boils down to an implicit government benefit for the wealthier.

  13. #253
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    Quote Originally Posted by Bjauck View Post
    A fast rising market, tends to make progressing up the property ladder more difficult too?
    Not sure if that is a question or not but you are correct - it does make it more difficult.
    By way of example, if your house was worth $500k and the house you aspired to was $700k you'd need an extra $200k to bridge the gap.
    If all houses doubled in value you'd now need $400k to bridge the gap.

    It becomes particularly relevant when the home owner sells their last residence and decides to invest elsewhere or pass their assets to beneficiaries they have selected. Then bias of the tax system becomes entrenched.

    It is an arbitrary distinction to tax gains from capital more leniently than gains from personal effort and other income. It is political expediency (currently anyway) and also an arbitrary distinction to treat financial equity (and annual benefit derived therefrom) in owner occupied housing differently from financial equity in taxable income producing assets. With the pricing of land currently, It boils down to an implicit government benefit for the wealthier.
    Generally most people sell their last residence AFTER they die but I agree with the rest of what you suggest.
    I can live quite happily off the capital gain and pay no tax - sell a bit at a time (obviously the assets aren't property).

  14. #254
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    Quote Originally Posted by dobby41 View Post
    ...Generally most people sell their last residence AFTER they die but I agree with the rest of what you suggest.
    I can live quite happily off the capital gain and pay no tax - sell a bit at a time (obviously the assets aren't property).
    Yep, the executors act on the deceased's orders. So it may be your last sale - unless you had already sold up to buy an ORA in a retirement village! Some emigrants also sell their last NZ residence prior to migrating with their gains.

    Reverse mortgages are also an option for releasing equity for those who overcapitalise their main residence for tax efficiency.

  15. #255
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    https://www.interest.co.nz/opinion/1...ly-thing-do-so

    Mahuta’s first foray into foreign affairs - siding with a declining empire to offend our biggest trading partner.

    Good one!

  16. #256
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    Quote Originally Posted by Bjauck View Post
    Yep, the executors act on the deceased's orders. So it may be your last sale - unless you had already sold up to buy an ORA in a retirement village! Some emigrants also sell their last NZ residence prior to migrating with their gains.

    Reverse mortgages are also an option for releasing equity for those who overcapitalise their main residence for tax efficiency.
    What does 'overcapitalise their main residence for tax efficiency' mean, and how can I do it?

  17. #257
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    Quote Originally Posted by fungus pudding View Post
    What does 'overcapitalise their main residence for tax efficiency' mean, and how can I do it?
    Buying as expensive a main residence as you (think you) can afford - including raiding Kiwisaver (for first home buyers), getting stonking mortgages at many multiples of income, diverting income that may have gone into a financial pension fund into payments for a house.

    The reasons seem obvious with respect to the owner occupied main residence. Capital gains (often/usually leveraged too) and imputed annual net rent are tax free. These are politically untouchable. Whereas financial pension funds face annual income tax charges, and cannot be leveraged to boost capital gains. Taxable income also seems to be fair game for being taxed harder to fund covid and other expenses - so that untaxed annual benefit of home ownership will look increasingly appealing.

    So worth pouring as much as possible into your house, after all you could always downsize or reverse mortgage in retirement?

    In the meantime those, who are priced out of home ownership and have a term deposit in the bank earning way below the inflation rate, are taxed on that puny return.
    Last edited by Bjauck; 25-11-2020 at 07:49 AM.

  18. #258
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    Quote Originally Posted by Bjauck View Post
    Buying as expensive a main residence as you (think you) can afford - including raiding Kiwisaver (for first home buyers), getting stonking mortgages at many multiples of income, diverting income that may have gone into a financial pension fund into payments for a house.

    The reasons seem obvious with respect to the owner occupied main residence. Capital gains (often/usually leveraged too) and imputed annual net rent are tax free. These are politically untouchable. Whereas financial pension funds face annual income tax charges, and cannot be leveraged to boost capital gains. Taxable income also seems to be fair game for being taxed harder to fund covid and other expenses - so that untaxed annual benefit of home ownership will look increasingly appealing.

    So worth pouring as much as possible into your house, after all you could always downsize or reverse mortgage in retirement?
    Yes. Thanks. Sounds great; think I'll do that.

  19. #259
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    Quote Originally Posted by Bjauck View Post
    In the meantime those, who are priced out of home ownership and have a term deposit in the bank earning way below the inflation rate, are taxed on that puny return.
    Also in the meantime, upgrading own home delivers a nicer place to live. Maybe much much nicer.

  20. #260
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    Quote Originally Posted by artemis View Post
    Also in the meantime, upgrading own home delivers a nicer place to live. Maybe much much nicer.
    If you can afford it that is true. A rapidly rising market can also stymie many homeowners who want to upgrade or get a larger house.

    Compared to other OECD countries, NZ houses tend to be less insulated, less double glazed, less likely to have a central heating/air conditioning*. So residential real estate is very expensive for what you get...in my opinion.

    * in my opinion. Are there any OECD studies available?
    Last edited by Bjauck; 25-11-2020 at 10:19 AM.

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