View Poll Results: Should there be a Capital Gains Tax on Property
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No
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Yes
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Goff is just an idiot
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Epic fail for Labour
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10-03-2019, 11:59 AM
#501
Originally Posted by fungus pudding
In what way does that differ from a leveraged investment in shares?
Leveraging the investment using the investment itself as collateral? It may happen for some share investors today but I imagine nowhere to the same extent as happens with real estate.
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10-03-2019, 12:01 PM
#502
Originally Posted by minimoke
No. Labour is hell bent on introducing a CGT under the misguided principle of "fairness" (definition = wealth re-distribution
I did not say it was the sole reason. The road to hell may well be paved with good intentions.
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11-03-2019, 09:17 AM
#503
Originally Posted by Bjauck
Leveraging the investment using the investment itself as collateral? It may happen for some share investors today but I imagine nowhere to the same extent as happens with real estate.
That's because of the N.Z. Banks conservative approach to lending. The point I was trying to make is that tax law does not distinguish, but treats shares and property equally. i.e. there is no special treatment for real estate as a class. Just borrow from a rich uncle.
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11-03-2019, 11:55 AM
#504
Originally Posted by fungus pudding
That's because of the N.Z. Banks conservative approach to lending. The point I was trying to make is that tax law does not distinguish, but treats shares and property equally. i.e. there is no special treatment for real estate as a class. Just borrow from a rich uncle.
The definition of what is a taxable dividend would also need to be compared with what constitutes current taxable returns from property.
However in relation to CGT I understand. Perhaps the crux of “fairness” lies in real world practice and the comparison of taxes raised per $1 net return on the investment.
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11-03-2019, 03:39 PM
#505
I’ve just signed the Labour Party petition on the CGT
labour.org.nz
”When investors are euphoric, they are incapable of recognising euphoria itself “
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11-03-2019, 03:50 PM
#506
Originally Posted by winner69
I’ve just signed the Labour Party petition on the CGT
labour.org.nz
Good onya. I have sent emails to Duncan Webb and Ruth dyson fully supporting CGT on the family home.
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11-03-2019, 04:25 PM
#507
Originally Posted by minimoke
Good onya. I have sent emails to Duncan Webb and Ruth dyson fully supporting CGT on the family home.
I have done likewise to Grant Robertson. Specifically pointing out if CGT does proceed and also covers the family home, it would raise meaningful revenue, thus allowing a meaningful drop in income tax - and if it's considered fair to tax gains from property, then treat all property equally rather than just play with it.
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11-03-2019, 07:01 PM
#508
Originally Posted by fungus pudding
I have done likewise to Grant Robertson. Specifically pointing out if CGT does proceed and also covers the family home, it would raise meaningful revenue, thus allowing a meaningful drop in income tax - and if it's considered fair to tax gains from property, then treat all property equally rather than just play with it.
Do you think they are crazy enough to give solid weighting to disingenuous advice from property investors FP? The standard household home was never in the CGT equation in any case. And I don't think that would lead to any investor worth their salt, over-investing in the family home, as it would be a waste of good capital. All property is being treated fairly, unless you'd consider not being able to add interest paid and other ownership costs into your annual tax return for your property portfolio.
Other dastardly options for landlords:
https://www.newshub.co.nz/home/polit...ichardson.html
https://www.newshub.co.nz/home/polit...or-labour.html
Last edited by elZorro; 11-03-2019 at 07:15 PM.
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11-03-2019, 07:38 PM
#509
Originally Posted by elZorro
Renters just have to look forward to increases. Labour has changed how property management fees are charged - so loading up rent. They are insisting on minimum housing standards so cost will be loaded onto rent. Nothing wrong with landlords now wanting to manage their capital risks by cashing up any potential gain by loading up rents.
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11-03-2019, 08:22 PM
#510
Originally Posted by minimoke
Renters just have to look forward to increases. Labour has changed how property management fees are charged - so loading up rent. They are insisting on minimum housing standards so cost will be loaded onto rent. Nothing wrong with landlords now wanting to manage their capital risks by cashing up any potential gain by loading up rents.
I can see you have the mantra spot-on, MM. It's only fair that the tenants will pay for every last cent of your investment, and more.
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