Capital Gains Tax

[lou]

We do have a land tax called "rates" farmers end up paying more than their fair share.

Farmers do not pay there fair share of taxes.
1. Farmers have loads of deductions, heaps of cracks to slip personal expenditure into the books.
2. Heaps of potential for income to disappear on to the kitchen table.
3. Then the fact that a farmer will sit on bugger all "taxable income" for his life time. Using the increase in farm technology/efficiency, that increase the value of his land that is leveraged to the hilt. He then retires to Whangamata on huge capital nest egg tax free.
4. The return on assets in the farm industry is lower than the cost of debt. This does not make economic sense why would they be doing it. Unless they doing it for capital income or other kickbacks.