Quote Originally Posted by Bjauck View Post
it sounds like your equity has been used inefficiently. Many others would be in your position too I guess. A CGT could deter such inefficiency and hopefully it would benefit the country and the owners of equity too. Plus who knows maybe land would become more affordable for those wanting a principal home to live in.
I have to agree, we used our capital very inefficiently, it was a dog of an investment really, but we did enjoy the holidays. I was making the point though, that once I figured out all the interest and other costs, I saw it for what it was. But many people just say they've made money because the resale value has gone up. Not true in many cases. A CGT on the bach would fix it for me, we'll sell it in advance, and if I wasn't a leftie I'd have brutally rented it out every chance I could over the previous years. So is a CGT justified on a family bach like ours? Probably, because it was an inefficent asset and in any case the capital gain has been low historically, so it's not that important if it kicks off in 2020.