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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. #556
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    Actually as a population whole, no they don't look to improve their homes. After countless of trade shows in building, and with what mass group builders tell me, the focus on the typical NZ resident is not to improve the house by pouring $ into their own home. Let me elaborate.

    In NZ residential building, they've never gone off to systematically build houses to scale and allowed for use of active ventilation (which requires a exceeding higher order of skill and requirement for 'air tight' construction) - not that such feature is important but it is a major cost in countries that do have these systems. It's been argued NZ's climate never warranted for such high performing homes. I mean insulation was not a code requirement until the late 90s. So what the architects continue to tell me is that if a person wants a better home, they don't pour $ in it to improve the home they live in but rather, they sell it and buy a NEWER home for the features they're after. There's a stigma that NZ houses are built poorly and that holding them too long creates problems = excessively higher maintenance costs.

    Then there's the aspect of renovations that require lots of compliance from local councils, such as changing the plumbing around and electrical. It's a major headache. I'm not speak about putting up a conservatory or adding one of those 'Archgola' awnings. I'm talking the performance of the house in living comfort. New houses are far more comfortable than the state built, uninsulated homes despite how such old houses may have a certain appeal.

    The worse part about NZ's old stock of homes is that no amount of $ you could pour into it would beat the performance of a newly built house at today's building code (well to within reason). A lot of $ can be spent on changing the windows, insulating the sub-floor, adding heat pumps, etc. but all these costs have paybacks well beyond the owner's anticipation of keeping the home. So the end result is houses on average change hands every 5 - 6 years.

  2. #557
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    On average that's probably correct, SBQ. There are exceptions of course. Plenty of younger developers who spent too much doing up a place, and others who have done fine, because they're right in the trade sector with suitable experience.

    I found this survey result interesting.

    https://www.newsroom.co.nz/2019/03/2...-cgt?preview=1

  3. #558
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    My thoughts is that Labor don't need to get it past Winston, they will ride high in the polls after the terror attacks where they could govern alone. Wait for the bad news next month from them which will hopefully trip them up and allow the gloss to wear thin
    Stick to the strategy

  4. #559
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    Quote Originally Posted by Scooter View Post
    My thoughts is that Labor don't need to get it past Winston, they will ride high in the polls after the terror attacks where they could govern alone. Wait for the bad news next month from them which will hopefully trip them up and allow the gloss to wear thin
    They do need to get it past NZ First if it is to be legislated before the next election. After that election they need to be elected as the next government to implement. NZ First may agree to a watered down CGT. That would help elect a Labour-led government in 2020, and the watered down version would be a basis to extend a CGT. Because, mandate.

  5. #560
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    Quote Originally Posted by artemis View Post
    They do need to get it past NZ First if it is to be legislated before the next election. After that election they need to be elected as the next government to implement. NZ First may agree to a watered down CGT. That would help elect a Labour-led government in 2020, and the watered down version would be a basis to extend a CGT. Because, mandate.
    Ahh, but if Labor poll 60%+ which is possible, they might 'forget' their COL partner and concentrate on Greens
    Stick to the strategy

  6. #561
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    Quote Originally Posted by Scooter View Post
    Ahh, but if Labor poll 60%+ which is possible, they might 'forget' their COL partner and concentrate on Greens
    It is irrelevant how they poll. If they want to get prior to the next election anything through parliament they will need NZ First support.

    And pretty sure Winnie will remember his clientele - particularly with the next election approaching soon.
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  7. #562
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    https://www.newsroom.co.nz/2019/03/2...-cgt?preview=1 44% in favour 35% opposed, thats decent majority.

  8. #563
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    Quote Originally Posted by Joshuatree View Post
    https://www.newsroom.co.nz/2019/03/2...-cgt?preview=1 44% in favour 35% opposed, thats decent majority.
    Professionals and senior government officials were the most in support”

    Would that be because they would profit from the extra compliance costs that will be inevitable? Or, that they would be better placed to find and benefit from the inevitable loopholes?

    I would like to see the level of support from the high income subset with an exempt yet very expensive house but no other assets.

    It was an ommision that the poll breakdown into owners of assets did not include the support level of those with an exempt principal home asset. Owner occupied housing is a significant class of asset ownership in NZ. They could be well be beneficiary of the proposed TWG scheme.

  9. #564
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    Quote Originally Posted by Bjauck View Post
    Professionals and senior government officials were the most in support”

    Would that be because they would profit from the extra compliance costs that will be inevitable? Or, that they would be better placed to find and benefit from the inevitable loopholes?

    I would like to see the level of support from the high income subset with an exempt yet very expensive house but no other assets.

    It was an ommision that the poll breakdown into owners of assets did not include the support level of those with an exempt principal home asset. Owner occupied housing is a significant class of asset ownership in NZ. They could be well be beneficiary of the proposed TWG scheme.
    With no details of a CGT scheme available yet, it's hard to see how anyone can be for or against it.

  10. #565
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    Quote Originally Posted by fungus pudding View Post
    With no details of a CGT scheme available yet, it's hard to see how anyone can be for or against it.
    There is the TWG report and its recommendations. The ToR were provided by the government so we the people could assume some or all of the recommendations will inform the policy to be announced in April. We could all keep quiet and accept what we are dished up. Good idea?

    In practice there has been some seriously robust debate on the TWG report, and the government might take a bit of notice.

  11. #566
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    Tax Justice Aotearoa NZ. Read their ad in the herald this morning and agree with a lot of what they say but the name and colours make them sound like a cross between the Greenies and Maori parties. A lot of "out there" people in that crowd.
    Campaign supporters include the Public Health Association, New Zealand Council of Christian Social Services, Council of Trade Unions, Public Service Association, Hui E! Community Aotearoa, Equality Network, Closing the Gap, Poverty Action Waikato, and UCAN (United Community Action Network).
    Last edited by Aaron; 08-04-2019 at 08:05 AM.

  12. #567
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    Quote Originally Posted by artemis View Post
    There is the TWG report and its recommendations. The ToR were provided by the government so we the people could assume some or all of the recommendations will inform the policy to be announced in April. We could all keep quiet and accept what we are dished up. Good idea?
    Of course not, but so much of what I have read is simply blind criticism containing all sorts of wild assumptions, as though it was all done and dusted. I can't see anything wrong with constructive discussion on CGT or any other subject. To repeat my original statement 'With no details of a CGT scheme available yet, it's hard to see how anyone can be for or against it.' That does not preclude constructive comment.

  13. #568
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    Quote Originally Posted by Aaron View Post
    Tax Justice Aotearoa NZ. Read their ad in the herald this morning and agree with a lot of what they say but the name and colours make them sound like a cross between the Greenies and Maori parties. A lot of "out there" people in that crowd.
    Campaign supporters include the Public Health Association, New Zealand Council of Christian Social Services, Council of Trade Unions, Public Service Association, Hui E! Community Aotearoa, Equality Network, Closing the Gap, Poverty Action Waikato, and UCAN (United Community Action Network).
    A coalition of supporters of the other coalition's tax policies?

  14. #569
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    Gone!
    Looks like jacinda does not have the stomach to roll the dice on an early election.Would have been interesting to see the results.I suspect winnie would have picked up a stack of votes from the nats

  15. #570
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    Quote Originally Posted by steveb View Post
    Gone!
    Looks like jacinda does not have the stomach to roll the dice on an early election.Would have been interesting to see the results.I suspect winnie would have picked up a stack of votes from the nats
    Don't see your reasoning here. Winston has lost votes since the election which probably never went to National, since they have also lost votes. So they will just come back from where they went which is likely Labour due to the fact they are the only party to have increased their votes in the polls.

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