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 BlackPeter
Any facts you could contribute? What statement they made was wrong?
But I than I suppose anything you don't like you seem to call biased. Doesn't matter whether the facts are on their side, it is just about pushing your view - isn't it?
Labelling a publication "biassed" or worse just because you don't like the message is destroying any fruitful political discussion. Trumpesk.
it is a comprehensive list of whose assets will be subject to the TWG’s CGT.
After paring it to the minimum, They have only just kept the “family home” out of the list of assets subject to a cgt.
The last 20 years or so has seen a boom in non-commercial lifestyle sections > 0.45 ha on the edge of cities. Many of these lifestyle areas provide towns with a de facto “green belt”. Many of those owners will be surprised that only part of their property will be deemed to be their family home. Valuers and solicitors will have a field day!
Last edited by Bjauck; 03-03-2019 at 03:40 PM.
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@elZorro
The issue of CGT and banning foreign non-residents from buying NZ real estate, wouldn't be on the radar if the Auckland housing boom didn't get so out of control. Too many NZ people wanting their 1st home have been left behind; at what cost? - so only the rich & wealthy to make the gains? Now the gov't is targeting those that made massive gains in real estate, YET, can't discriminate between different asset classes so they would include sharemarket gains.
One thing certain with real estate is the banks have no quarrels at lending on those assets. But go and try to borrow the same amount (by going margin) in a brokerage account ? to invest in shares? Not a chance.
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Originally Posted by SBQ
One thing certain with real estate is the banks have no quarrels at lending on those assets. But go and try to borrow the same amount (by going margin) in a brokerage account ? to invest in shares? Not a chance.
Ya reckon
I can easily leverage in shares , maybe not 95% as many would with property , but certainly enough to lose it all haha
For clarity, nothing I say is advice....
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Originally Posted by peat
Ya reckon
I can easily leverage in shares , maybe not 95% as many would with property , but certainly enough to lose it all haha
Yes but as an asset to leverage off NZ RES homes Property just about as good as cash in the bank 80%+ ... aka why the property is priced so high to average to low yields now.. and asking prices well over GV-RV
commercial property around 50% prices much closer to RV
Shares / Bullion 5% (even if you own shares in the bank your trying to lend from)
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Originally Posted by JBmurc
and asking prices well over GV-RV
GV (??) / RV are totally meaningless numbers. The only people who can use RV are your local council. And it has nothing to do with value but all to do with how much to charge you for rates.
Which is why RV cannot be used on Valuation Day.
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Originally Posted by minimoke
GV (??) / RV are totally meaningless numbers. The only people who can use RV are your local council. And it has nothing to do with value but all to do with how much to charge you for rates.
Which is why RV cannot be used on Valuation Day.
Well, they are not meaningless even though I've heard the same from R.E Agents .... they certainly are not exact ... but I've had Banks use them in the past sometimes over reg. valuation as they didn't trust the valuer ... then using the banks approved valuer they would come in very closely to what sold over R.V in the area the property was listed ....
looking to buy another commercial property recently I was looking over sales to RV of the 5 most recent sales in the town all sold within 5% of the RV..
To date I've had 21x NZ Property transactions
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Originally Posted by peat
Ya reckon
I can easily leverage in shares , maybe not 95% as many would with property , but certainly enough to lose it all haha
I've had an interest only loan at 80% of our house value for many years now to use in the market, can't get a margin call either.PS-Would not use a margin account for the share market, too risky IMO.
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How come the Labour Party coalition is being VERY silent on any DETAILS of this CGT? You would think National party would be able to dig in more details about the proposal?? Jacinda Ardern, please speak up!!!
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Member
Call me dumb but what is the exact definition of "Family home'?
Can a de facto partner have a family home? Can I have a family home also?. Can a family trust have a family home also?.
Last edited by Brovendell; 05-03-2019 at 04:58 PM.
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Originally Posted by Brovendell
Call me dumb but what is the exact definition of "Family home'?
Can a de facto partner have a family home? Can I have a family home also?. Can a family trust have a family home also?.
I'd think ones home address ...any property that's not being rented lived in by owners etc
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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