Population Growth and Growth in Property Values

[Valuegrowth]

We are paying tax for income earn through employment. We also have to pay tax for other earnings. Do you think is it reasonable to implement capital gain tax for property? Will there be capital gain tax for second home if somebody sells it in the future? What about Auckland property market? Can we expect correction there in 2014 or 2015? Can we also expect slowdown in housing market in Australasia in the coming years? Thanks in advance.

[Aaron]

We are paying tax for income earn through employment. We also have to pay tax for other earnings. Do you think is it reasonable to implement capital gain tax for property? Will there be capital gain tax for second home if somebody sells it in the future? What about Auckland property market? Can we expect correction there in 2014 or 2015? Can we also expect slowdown in housing market in Australasia in the coming years? Thanks in advance.

No correction in 2014 or 2015 maybe 2016 is the start of a correction but I doubt it after reading this on Bloomberg this morning.

http://www.bloomberg.com/news/articl...s-of-the-world

An across the board capital gains tax implemented after the next financial crisis, no exemption for your own home. Keep it as simple as possible much like our GST regime. If we can be hard on poor people with a regressive GST with few exemptions then we should be able to do the same for a progressive capital gains tax.

It might even discourage some of those super wealthy immigrants. I think 4million people is enough for a country our size.

[Valuegrowth]

No correction in 2014 or 2015 maybe 2016 is the start of a correction but I doubt it after reading this on Bloomberg this morning.

http://www.bloomberg.com/news/articl...s-of-the-world

An across the board capital gains tax implemented after the next financial crisis, no exemption for your own home. Keep it as simple as possible much like our GST regime. If we can be hard on poor people with a regressive GST with few exemptions then we should be able to do the same for a progressive capital gains tax.

It might even discourage some of those super wealthy immigrants. I think 4million people is enough for a country our size.

Thank you for the link.

[Lewylewylewy]

...An across the board capital gains tax implemented after the next financial crisis, no exemption for your own home. Keep it as simple as possible much like our GST regime. If we can be hard on poor people with a regressive GST with few exemptions then we should be able to do the same for a progressive capital gains tax...

An across-the-board capital gains tax effecting home owners would be a really great way to increase the rich-poor divide, as home owners sell their houses, get taxes on the difference (tens of thousands of dollars) and find themselves in a position where the only home they can buy is smaller than the one they just sold. Great for really kicking growing families and others trying to work their way up the property ladder in the balls lol.