SUM - Summerset Group

[Timesurfer]

I am somewhat sceptical of a CGT making a huge impact.
So you have to pay tax on your profit - it is profit, and I am sure those with a lot at stake will have a loophole around tax as they always do.
From the property investors I talked to it sounded like business as usual for them. A slower housing market has more of an impact leaving only the long term investors playing the game. The flippers might be driven back to the stockmarket for their quick buck?

[Ggcc]

https://www.kiwiblog.co.nz/2017/09/h...australia.html

Great and thanks for this information. I can't for the life of me find the quote from that economist discussing houses falling in value when CGT gets introduced. Anyway great to see a different outcome scenario

[stoploss]

Great and thanks for this information. I can't for the life of me find the quote from that economist discussing houses falling in value when CGT gets introduced. Anyway great to see a different outcome scenario

Sorry I know it's on the wrong thread... just remember they invented economists to make weather forecasters look good ....... Here is the article you are thinking about . Lets see who's right ....

https://www.westpac.co.nz/rednews/pr...ists-estimate/

[winner69]

Sorry I know it's on the wrong thread... just remember they invented economists to make weather forecasters look good ....... Here is the article you are thinking about . Lets see who's right ....

https://www.westpac.co.nz/rednews/pr...ists-estimate/

......and the Westpac economists in particular make the weatherman look good

Forecasts based on which political barrow they pushing at the time thinking they can ‘sway’ the RBNZ and the government ...and we talk about bias from businesses in the confidence surveys

[Ggcc]

Sorry I know it's on the wrong thread... just remember they invented economists to make weather forecasters look good ....... Here is the article you are thinking about . Lets see who's right ....

https://www.westpac.co.nz/rednews/pr...ists-estimate/

Thanks again!! Yes let’s see who is correct. Only time will tell who is correct and if the government vote for CGT.

[longy]

I am somewhat sceptical of a CGT making a huge impact.
So you have to pay tax on your profit - it is profit, and I am sure those with a lot at stake will have a loophole around tax as they always do.
From the property investors I talked to it sounded like business as usual for them. A slower housing market has more of an impact leaving only the long term investors playing the game. The flippers might be driven back to the stockmarket for their quick buck?

As usual. It does not affect investors with a deep pocket much. CGT did not dent the Sydney and Melbourne's housing market... In fact I would pay close attention to the immigration policy than anything re demand for houses.

[artemis]

As usual. It does not affect investors with a deep pocket much. CGT did not dent the Sydney and Melbourne's housing market... In fact I would pay close attention to the immigration policy than anything re demand for houses.

A proposed CGT did Labour no good at the last 3 elections. Dropped by Mr Little after 2014, then sort of proposed in 2017 by Ms Ardern then dropped by a Captain's Call until post 2020.

With some 600,000 private rentals in NZ that is a lot of impacted people, including tenants facing increased rents.

Agree with watching immigration levels, but also watch sales of new build / off the plan apartments esp in Auckland. In recent years many if not most have become rentals. Will that continue?

[winner69]

None of this CGT and housing shortage on this thread please

Back on topic — SUM will continue to build heaps of retirement units and continue to make heaps of money

Why complicate matters with a lot of noise.

[artemis]

None of this CGT and housing shortage on this thread please

Back on topic — SUM will continue to build heaps of retirement units and continue to make heaps of money
Why complicate matters with a lot of noise.

Why? Because the property market is complex, with many levers and facets. Retirement property providers are part of that market. Some might think understanding wider market issues is useful.

[winner69]

Why? Because the property market is complex, with many levers and facets. Retirement property providers are part of that market. Some might think understanding wider market issues is useful.

So sorry ......