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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One simple line of code:
Sale_price - purchase_price * tax rate.
It's almost too simple which is why every country has it in place. for comparison the IRD's GST guide is 100 pages and nearly every business is required to know how to fill in the seperate form (sounds complex), know what to include in it as a taxable supply, what they can claim, make a number of adjustments, maintain their invoice records which have a company's GST number on it for multiple years somewhere.
This raises admin costs when you have to file two monthly rather than once for income. More of the economy is shifting towards capital and less income so it's also needed from that perspective if you are to maintain a tax base.
Last edited by Panda-NZ-; 08-07-2020 at 01:53 AM.
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