OCA - Oceania Group - retirement villages

[Dlownz]

That article is actually right on the money.
Its the only way to truly tax people fairly as there are too many loopholes in housing. Tax everyone regardless if its in a trust or not and suddenly its a equal playing field. How many houses sit empty in Aucklsnd due to just landbanking. It would bring houses prices down that would be a fact

[winner69]

https://www.stuff.co.nz/business/125...-social-fabric

Now you ruined this thread for a few days

[RTM]

That article is actually right on the money.
Its the only way to truly tax people fairly as there are too many loopholes in housing. Tax everyone regardless if its in a trust or not and suddenly its a equal playing field. How many houses sit empty in Aucklsnd due to just landbanking. It would bring houses prices down that would be a fact

Be a boost for the share market I suspect !

[Beagle]

Thanks for posting the link. She has to sort out the housing mess....even if its not of her making. Its probably the biggest problem facing NZ, especially our youngsters.
She has said No to CGT....will she walk that back ? Probably not.
I guess she could sell this as a not a CGT....?
Measures to date have not significantly affected the market, not long enough yet ? Rising interest rates might i guess.

This is similar (the same? ) as what was proposed by TOP Party I think.
Maybe it might have more legs that we like to think....another question to ask is.....would it in fact work ?
Maybe !

Just sit back and watch rising interest rates and a big increase in housing supply have the intended effect in the years ahead.

[Bjauck]

What a load of crap in that article .....our home is a basic human necessity and nothing else

Extract-
"Housing is viewed as a tradeable commodity and store of wealth, rather than a human right or a basic human necessity."

Poor Oceania, again used as the forum to discuss general housing issues…

For those who own multiple properties it may have become an investment commodity. In theory this proposed policy is fair. However in practice, it would be unfair to expect owner-occupied homeowners, who just own their home to house their family, to come up with the readies to pay a tax on annual imputed income when they would not have received any actual income from their home.

If the aim is to prevent the establishment of a landed gentry, It would be more effective to levy estate duties or inheritance tax.

[Beagle]

Now you ruined this thread for a few days

LOL Yeah he has.

[winner69]

Any wealth / death tax fails to address the actual causes of rising inequality: specifically the shortage of housing etc etc

[Greekwatchdog]

They have never fully looked at the "root cause" Supply vs Demand. So few properties on market now especially in Chch. Its all new builds. You have to pay premium price for something that's way over valued or build. Add to that we simply can't build fast enough. This situation hasn't been helped by the low interest rates caused by Covid. My work place is on track to beat biggest Job Acceptances by 30% this month. New Builds everywhere and still can't get enough land consented fast enough..

[Waltzing]

"Decided not to pounce for now..."

what about MHJ ???? stoned dog collars?

90 cents, cheaps a chips?

"stoned" now before anyone mentions drugs its a technical term for putting small glittering jewels on ballroom gowns..very serious business..

"loopholes in housing"

You thought you had seen a lot of tractors on friday...all land , all land bar none..and a full blown inheritance tax.

you can bet your town house and country estate that retirement villages are up for CGT now.

All these tax loop holes are related to OCA and more to SUM as im sure even some labour PM's have shares in their portfolios with retirement shares in them.

[850man]

Any wealth / death tax fails to address the actual causes of rising inequality: specifically the shortage of housing etc etc

Piling on tax won't solve what is essentially a lack of supply situation however the socilaists are unable to do anything else, certainly unable to build more no matter how many smiling promises are made.