Labour govt 2020-23

[artemis]

Marama Davidson reverts to Identity Politics....because that what the Left does.

Meanwhile she runs as soon as she's asked what she has actually done. Good one Marama. Good one Cindy. She's your Minister. ....

Might be a reason for Ms Davidson's opinion. Most recent social housing list reports 62% of main applicants identify as Maori or Pacific Peoples. (Quite a few others decline to say.) Occupants of emergency motels and similar are not the same as those on the social housing waiting list, but good chance not too different.

Our small business gave a chance to one of them, actually in the place in the article, not long out of prison. Won't be doing that again. Didn't end well, had to get the police involved.

[jonu]

Might be a reason for Ms Davidson's opinion. Most recent social housing list reports 62% of main applicants identify as Maori or Pacific Peoples. (Quite a few others decline to say.) Occupants of emergency motels and similar are not the same as those on the social housing waiting list, but good chance not too different.

Our small business gave a chance to one of them, actually in the place in the article, not long out of prison. Won't be doing that again. Didn't end well, had to get the police involved.

The last few sentences would appear to back Ms Willis' position.

[winner69]

Bright line test extended to 10 years

Property investors can't deduct interest from rental income anymore

Suppose that isn't really increasing taxes

Those dastardly investors getting their comeuppance

[SBQ]

Bright line test extended to 10 years

Property investors can't deduct interest from rental income anymore

Suppose that isn't really increasing taxes

Those dastardly investors getting their comeuppance

Personally I think Labour is heading into the right direction. In Jacinda's 40 min speech yesterday morning, some real startling stats on who the buyers were and how houses are rocketing up with low LVR deposits in 2020. I applaud the upcoming changes as I mentioned before ; NZ past gov'ts has done nothing until now.

Is moving the Brightline test a new form of tax? I don't believe so as the purpose of this test is to determine the individual's intent. The guideline just makes it more clear that when people are buying a house to invest in, they better think twice about holding it for 10+ years if they want to be exempt from taxes on the capital gain. At 5 years, ok many would hold out and simply buy the house - as a common sales pitch by these property investment groups that invite people to attend free seminars throughout NZ. Consider elsewhere around the world - what has the UK done ? what i'm seeing is NZ is just catching up to the same tax policies as we see abroad.

Now i'm eagerly awaiting to see what changes in the RMA will come? I think it would be welcoming if houses can be built closer so there's 'better use' of the land as section sizes are much smaller than they were some years ago. We need to think like abroad and build UP, not the boring single story builds we see blanketed all over NZ in new sub-divisions. Increase the density!

[iceman]

I don't have any problems with extending of the Brightline test except for the fact that the Finance Minister stated DEFINITIVELY prior to the election that this would not happen. Both him and the PM are now openly lying about that statement, despite it being very clear.
Repeatedly using the words "speculators" for people that invest in residential property for up to 10 years is simply wrong and repeatedly using the word "loophole" both for interest deductibility and David Parker using it to justify stopping interest only loans, is disingenuous.

I think stopping or reducing the use of interest only mortgages is a tool they can use to cool the demand but I'm totally opposed to removing interest as a genuine business cost on residential property investment only. Meanwhile we can borrow and buy shares or any business and claim interest costs as a genuine business expense, as it should be.
I think Jacinda has just signed her own death warrant with this and I have no doubt that we will see large rent increases over the next 4 years, ironically probably most of it paid for by the Government through accommodation supplements.

The $ 3.8 Billion promised for speeding up housing infrastructure without any explanation on how or where it will be spent, looks like so many of their big promises (Kiwibuild, all the trees, light rail, Auckland skypath etc etc etc) that have come to absolutely nothing. I suspect this will be the same. In any case, the amount is a drop in the bucket.

[winner69]

Robertson was pushing for a Muldoon style rent freeze in 2012 and been ‘discussed’ in labour circles every now and again since

Could stick the boot into these dastardly speculators good and proper by doing that ...you never know

[winner69]

Probably take away interest deductibility for tax purposes from everybody and all businesses ......no loophole then

Even the BusinessNZ guy is worried about that according to Herald report

[Zaphod]

Is it a loophole? It was a deliberate design of the tax system to allow mortgage interest to be deducted for tax purposes. The term 'loophole' is of course a more politically expedient nomenclature for a government to use.

[fungus pudding]

Is it a loophole? It was a deliberate design of the tax system to allow mortgage interest to be deducted for tax purposes. The term 'loophole' is of course a more politically expedient nomenclature for a government to use.

In spite of all the fancy descriptions used over the years, it is simply that we used to tax profit, but now they want to base the tax on the turnover. Not just weird but unworkable. Only the naive Labour govt. could think of applying income tax to the outgoings. Brilliant!

[Zaphod]

In spite of all the fancy descriptions used over the years, it is simply that we used to tax profit, but now they want to base the tax on the turnover. Not just weird but unworkable. Only the naive Labour govt. could think of applying income tax to the outgoings. Brilliant!

LOL

Well, a previously stated goal was to broaden the tax base wasn't it! Please don't send your suggestion to them though.