If National wins ...

[Joshuatree]

The family home is ring fenced.The labour party wants to reverse the damage national has created where more people are paying rents they can't afford then ever because house building hasn't been able to keep up with demand.And house prices have soared beyond first home buyers etc.

Immigration numbers have a part to play in this and overseas buyers make up somewhere in the 3 to 13% of the buyers(maybe not atpit). The figs aren't available for us to decipher(ask national) but labour think its at the higher end.

The working group (outside experts i believe) for Labour will come up with the best solution for a capital gains tax to plug the gaps the speculators are taking advantage of it and paying no tax in some cases by running rentals at a loss. It will take over year. If its good Labour will want to put it in place and let the voters decide at the next election how good it is.

Its a complicated fix with fishhooks and needs to b done right first time hopefully.

[Sgt Pepper]

She's not a communist - she's a social democrat of the Nordic or Scandinavian model, who generally do not like to be called socialists - but that is what they are.

Fungus
Imagine that, we could end up like the Nordic Countries!!. I mean what economic and social basket cases they are. Their old people roam the streets looking in rubbish tins for food, they hardly have any scaled industry to speak of. lets hope not!. Staat Oil, Volvo, Maersk Shipping, Novartis Pharmaceutical etc etc all little companies which hardly make any economic impact.
Apparently Labour has ordered the Guillotines for the city centres.

[Joshuatree]

Heehee. they are so on to it ;and with the environment too.

[BlackPeter]

Who care what the tenants think - they don't own the place so won't get any capital gain either way.

I would apply it to all houses though (primary or not) and everything else. Keep it simple without ifs and buts.

Absolutely correct - apply CGT on all houses, all business, shares and bonds and any other property (art, collections of any sort, vintage cars - well, anything which could appreciate in value). This will make it simple. The people who save money or own things must be punished. Saving is bad. You must love these Labour policies.

Great times to come for lawyers, tax advisors and bureaucrats ... while the rich won't be worried (just get a lawyer to re organise your affairs and start a new trust) and the poor won't gain anything (any potential benefit will be eaten up by increased bureaucracy). However - the middle class will bleed - but this is the very people Labour wants to punish anyway, isn't it?

[Joshuatree]

No they want the working group to cover all the possibilities.Iceman suggested a flat 10% capital gains tax all-round. Easy and simple to run.

[minimoke]

The family home is ring fenced.

Well thats nuts. Just means the filthy rich will shift capital to family castle.

[minimoke]

Absolutely correct - apply CGT on all houses, all business, shares and bonds and any other property (art, collections of any sort, vintage cars - well, anything which could appreciate in value). This will make it simple. The people who save money or own things must be punished. Saving is bad. You must love these Labour policies.

Sounds like TOP policy

[BlackPeter]

Fungus
Imagine that, we could end up like the Nordic Countries!!. I mean what economic and social basket cases they are. Their old people roam the streets looking in rubbish tins for food, they hardly have any scaled industry to speak of. lets hope not!. Staat Oil, Volvo, Maersk Shipping, Novartis Pharmaceutical etc etc all little companies which hardly make any economic impact.
Apparently Labour has ordered the Guillotines for the city centres.

Well, let's test that.

Actually - I do travel a lot and have nowhere seen that many intoxicated people sitting or lying on the ground in substations or similar like in Stockholm. Not a pretty sight.

Can't be all honky dory in these Scandinavian countries - can it? But yes, they do have a gold plated social system - and afford it through selling their resources. Norway sells oil and Sweden sells timber. What are you proposing we are selling to finance a gold plated social system?

Ah - and the strong economy? Let's have a long and deep thought why Volvo and Saab went bankrupt - shall we? All due to the strength of the Scandinavian model? Hardly. Volvo had to be saved by the Chinese .... Saab was not that lucky.

Be careful what you wish for ...

[fungus pudding]

Well, let's test that.

Actually - I do travel a lot and have nowhere seen that many intoxicated people sitting or lying on the ground in substations or similar like in Stockholm. Not a pretty sight.

Can't be all honky dory in these Scandinavian countries - can it? But yes, they do have a gold plated social system - and afford it through selling their resources. Norway sells oil and Sweden sells timber. What are you proposing we are selling to finance a gold plated social system?

Ah - and the strong economy? Let's have a long and deep thought why Volvo and Saab went bankrupt - shall we? All due to the strength of the Scandinavian model? Hardly. Volvo had to be saved by the Chinese .... Saab was not that lucky.

Be careful what you wish for ...

But it's what Taxcinda wishes for us. Utopia.

[Bjauck]

Sounds like TOP policy

I would go for the Estonian model. That could see a drop in income tax rates and some people who own appreciating assets that earn income, could end up paying less tax. So those successful people could pay less tax. However it is true, a collector of vintage cars, that go up in value (after costs,) could pay tax on the capital profits on sale.