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View Poll Results: Should there be a Capital Gains Tax on Property

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  • No

    202 100.00%
  • Yes

    60 58.25%
  • Goff is just an idiot

    2,147,483,655 100.00%
  • Epic fail for Labour

    1,930 100.00%
Multiple Choice Poll.
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  1. #166
    Ignorant. Just ignorant.
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    Quote Originally Posted by blackcap View Post
    If that scenario eventuated then everyone would become a "trader" Ie sell family home, make it you are in the business of buying and selling property and hey presto you can claim all sorts of things. So they would have to credit losses or else there is another thriving industry. CGT is a huge mess either way.
    No, it would just mean that the proceeds of the sale of some specified types of assets would be taxable on any gain made on cost or book value, after certain allowances.

    As to who defines the asset types affected, who defines which allowances, who defines "cost", that's a different story.

    Nothing to do with "trading" at all.

  2. #167
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    Quote Originally Posted by GTM 3442 View Post
    No, it would just mean that the proceeds of the sale of some specified types of assets would be taxable on any gain made on cost or book value, after certain allowances.

    l.
    Exactly you would be able to claim costs if you are a trader, which normally you would not be able to do. So losses incurred as a trader would be tax deductible. So a capital gains tax yes, but if you have a capital loss you can use that to offset income.

    Ie currently as a share investor I do not pay capital gains tax on my "winners", however I cannot offset my "losers" against income. If I was a trader however I can offset losses against winners. But I chose not to under the current scenario because my winners are greater than my losers. (I can also claim expenses currently against my income from dividends etc). However if a capital gains tax on shares were to be introduced, I would become a "share trader" and thus be able to offset "losers" as well against the "winners" and income.
    Last edited by blackcap; 11-10-2017 at 07:49 AM.

  3. #168
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    Quote Originally Posted by blackcap View Post
    .................................
    However if a capital gains tax on shares were to be introduced, I would become a "share trader" and thus be able to offset "losers" as well against the "winners" and income.
    I would be joining you as a trader too bc if it happens.

  4. #169
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    You would be a trader by default anyway.

  5. #170
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    The main reason that savvy politicians, like John Key, and others avoided capital gains tax is the bottom line - you will get a return from the winners, less all their costs - but you will spend most of it on the losers, who will be experts on how and what to claim. And the cost of multitude of public servants you will need to operate the system will only be offset by the reduction in unemployment ( of public servants). Simple tax systems like GST are far more efficient at taking money from the public to fund the public. Imagine the rise in "cash jobs" if there is capital gains tax. I will have to pay more than two bottles of my Jim Beam to get my driveway restored after a storm. I may have to go to Jack Daniels by four and that costs me $40 to make. It might be cheaper to concrete my driveway but I would have to find a concrete truck driver who will drop his left overs as he passed.

  6. #171
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    Quote Originally Posted by craic View Post
    The main reason that savvy politicians, like John Key, and others avoided capital gains tax is the bottom line - you will get a return from the winners, less all their costs - but you will spend most of it on the losers, who will be experts on how and what to claim. And the cost of multitude of public servants you will need to operate the system will only be offset by the reduction in unemployment ( of public servants). Simple tax systems like GST are far more efficient at taking money from the public to fund the public. Imagine the rise in "cash jobs" if there is capital gains tax. I will have to pay more than two bottles of my Jim Beam to get my driveway restored after a storm. I may have to go to Jack Daniels by four and that costs me $40 to make. It might be cheaper to concrete my driveway but I would have to find a concrete truck driver who will drop his left overs as he passed.
    That all depends on the rules that would be adopted. That's an unknown.

  7. #172
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    Can someone update Bill English and all the self-centred, selfish retards who voted National at the last elections.

    http://www.msn.com/en-nz/money/news/...cid=spartanntp

    National will probably propose raising the GST rate again as they seem to prefer regressive taxes to progressive ones.

  8. #173
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    Quote Originally Posted by Aaron View Post
    Can someone update Bill English and all the self-centred, selfish retards who voted National at the last elections.

    http://www.msn.com/en-nz/money/news/...cid=spartanntp

    National will probably propose raising the GST rate again as they seem to prefer regressive taxes to progressive ones.
    That is 46% of NZ voters you are so graciously talking about ! Talk about sore losers.

  9. #174
    Trying to get outta here
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    Quote Originally Posted by Aaron View Post
    Can someone update Bill English and all the self-centred, selfish retards who voted National at the last elections.

    http://www.msn.com/en-nz/money/news/...cid=spartanntp

    National will probably propose raising the GST rate again as they seem to prefer regressive taxes to progressive ones.
    A lot of those so called retards are the ones that keep this country going by providing jobs for those who want to work, in contrast to a lot of the no hopers who voted for the other side who simply want to suck of the taxes of the hard working via benefits.

  10. #175
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    Quote Originally Posted by Aaron View Post
    Can someone update Bill English and all the self-centred, selfish retards who voted National at the last elections.

    http://www.msn.com/en-nz/money/news/...cid=spartanntp

    National will probably propose raising the GST rate again as they seem to prefer regressive taxes to progressive ones.
    GST is not regressive. It is a flat tax.

  11. #176
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    Quote Originally Posted by Aaron View Post
    Can someone update Bill English and all the self-centred, selfish retards who voted National at the last elections.

    http://www.msn.com/en-nz/money/news/...cid=spartanntp

    National will probably propose raising the GST rate again as they seem to prefer regressive taxes to progressive ones.
    If I could be bothered updating Bill English I'd be asking him to introduce an Effort Index. That is, an index which shows how much effort people put into their lives and measure their decision making. We could then over lay the Effort Index with the Income Index and get a much clearer picture of Inequality.

  12. #177
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    Quote Originally Posted by iceman View Post
    That is 46% of NZ voters you are so graciously talking about ! Talk about sore losers.
    It is what it is we all had our say for the next three years no point getting upset about it. I hope Winston goes with National. If I am right about a financial market collapse in the near future whoever is in power at the time will probably get blamed.

  13. #178
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    Quote Originally Posted by minimoke View Post
    If I could be bothered updating Bill English I'd be asking him to introduce an Effort Index. That is, an index which shows how much effort people put into their lives and measure their decision making. We could then over lay the Effort Index with the Income Index and get a much clearer picture of Inequality.
    I put a lot of "effort" into my posts on sharetrader but you might have to weigh effort against usefulness, benefit to society or productivity.

  14. #179
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    Quote Originally Posted by fungus pudding View Post
    GST is not regressive. It is a flat tax.
    We have been over this and I have explained it to you, that is all I can do unfortunately.

  15. #180
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    Quote Originally Posted by Aaron View Post
    We have been over this and I have explained it to you, that is all I can do unfortunately.
    There is nothing to explain. GST is a flat tax of 15%. That is precisely what the end user pays. Full stop.

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