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  1. #2551
    Senior Member
    Join Date
    Nov 2018
    Location
    Christchurch
    Posts
    766

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    Quote Originally Posted by Aaron View Post
    Here is a "news" article to provide hope to first home buyers.

    https://www.nzherald.co.nz/business/...C4NZVVJ35KVJU/

    All you have to do is save up $6,000 and have a rich Dad. What is all this angst about.

    Sounds more like a story of a property investor trying to allocate some income to his kids to lower his tax bill.

    One interesting bit in the article is the last couple of paragraphs. Jonny the builder doesn't even know who f**ked him over.

    Every leader of every major party and the older generation that voted them in and especially the good folks at the RBNZ.
    Melbourne still a lot less than Auckland and the reason is due to better policies. Australia has CGT, which directs investments into more productive areas like their share market. This is nothing new as others like Canada and the US use taxation to take away the heat from investing in 1 specific asset. NZ is clueless about demand controls so the come up with silly excuses like "not enough supply...". It's a lot more to that than just a supply problem. Also Australia has land tax. The smart investors don't buy houses in Australia, they do it in a business or on the share markets. But in NZ, we have tax policies that go the opposite way. We reward the rich people that own houses with no CGT, no supplementary land tax, no sur-charge on rates when held in a trust or in a company or by persons owning more than 1 house. We punish the productive part of society, the middle class, by giving them a Kiwi Saver which it's annual gains are taxed.

    But seriously, from an aggregate point of view in society. How does a nation benefit from having excessive rising house prices? The only winners i'm seeing in NZ is the banks, for which most are foreign owned (as the profits are sent abroad to pay the share holders). It splits society between "the haves" and "the have nots". Guys like him selling is property investment book have the $ and their children would most likely end up in private schooling, for which their children will not understand or see the divide between the very wealthy and the commoners. I see this happening in NZ everyday volunteering in a public school. Little things like tissue paper boxes are requested as the school has no budget. Private schools don't have this problem. So as society carries on, what is left is a social divide which can almost be rooted between those that have houses and those that don't.

  2. #2552
    Member
    Join Date
    Aug 2003
    Location
    Tauranga
    Posts
    483

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    Quote Originally Posted by SBQ View Post
    Melbourne still a lot less than Auckland and the reason is due to better policies. Australia has CGT, which directs investments into more productive areas like their share market. This is nothing new as others like Canada and the US use taxation to take away the heat from investing in 1 specific asset. NZ is clueless about demand controls so the come up with silly excuses like "not enough supply...". It's a lot more to that than just a supply problem. Also Australia has land tax. The smart investors don't buy houses in Australia, they do it in a business or on the share markets. But in NZ, we have tax policies that go the opposite way. We reward the rich people that own houses with no CGT, no supplementary land tax, no sur-charge on rates when held in a trust or in a company or by persons owning more than 1 house. We punish the productive part of society, the middle class, by giving them a Kiwi Saver which it's annual gains are taxed.

    But seriously, from an aggregate point of view in society. How does a nation benefit from having excessive rising house prices? The only winners i'm seeing in NZ is the banks, for which most are foreign owned (as the profits are sent abroad to pay the share holders). It splits society between "the haves" and "the have nots". Guys like him selling is property investment book have the $ and their children would most likely end up in private schooling, for which their children will not understand or see the divide between the very wealthy and the commoners. I see this happening in NZ everyday volunteering in a public school. Little things like tissue paper boxes are requested as the school has no budget. Private schools don't have this problem. So as society carries on, what is left is a social divide which can almost be rooted between those that have houses and those that don't.
    Sad but true. Consecutive government's have let NZ citizens down terribly.
    Where was the foresight? Unbelievable !
    I would have thought a competent Labour government would have addressed some of these issues but this lot have absolutely NO IDEA.
    Last edited by ynot; 24-12-2021 at 01:40 PM.

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