Given the retrospective company capital gains tax introduced by Labour last week, it could be time to consider the capital gains tax by another name intended to be introduced in the May 19th budget - how will this effect residential property investment do you think ?
A few thoughts I have are; will it be retrospective like this weeks law or will it have a grandfathering component - if the latter would it be an idea to buy property through a trust for the long term before the budget.
How will the law change effect the foreign investment patterns of recent years in residential property from non-aligned tax countries,USA particularly, where capital gains will have to be paid twice - maybe coastal property will be affordable for kiwis again but not a very good investment.
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