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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Originally Posted by Bjauck
I agree. To exempt the family home from CGT and income tax on imputed rent, whilst subjecting other investments, business, shares and KiwiSaver investments to a CGT and Tax on income earned will make the purchase of a family home the de facto tax efficient pension scheme for those that can afford it. How long would it be before the NZX would close up shop?
Two consequences.
NZ'ers will look for capital investment opportunities overseas on, say, ASX.
Second usual supply demand principle will see increased demand for upscale residential housing which will push up prices which will see holders in NZ residential property get larger tax free capital gain.
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