Capital Gains Tax

[Bjauck]

"The Treasury has previously estimated that a broad-based capital gains tax, that excluded gains on owner-occupied housing"
https://www.stuff.co.nz/business/industries/104262446/capital-gains-tax-sensible-and-fair-for-nz-says-oecd-official

Apart from the backlash from entitled home owners (increasingly becoming a wealthier minority), Why should owner-occupied housing be excluded? Excluding it will only continue the shift of investment into residential land,and in the absence of wealth or estate taxes, it will perpetuate the deveopment of a shrinking landowning elite who find it is tax efficient to over-capitalise their homes...


Personal circumstances including singles, childless couples and where people have to shift frequently, may mean home-ownership is not the optimal form of obtaining accommodation. In such cases their equity may well better be deployed in creating businesses or investing in income-generating share investments. Yet if they invest all their capital in such vehicles as opposed to their own homes, they would be liable to capital gains.

[Aaron]

https://www.stuff.co.nz/business/106...--is-that-fair


More envious people trying to make the world a better place?

[minimoke]

https://www.stuff.co.nz/business/106...--is-that-fair


More envious people trying to make the world a better place?

"Properties give their owners a tax-free windfall - is that fair". "Fair" - isnt that a most interesting word

[Bjauck]

"Properties give their owners a tax-free windfall - is that fair". "Fair" - isnt that a most interesting word

True "fairness" is subjective and is determined by those in a society who have the power and control. I guess the tipping point will be when what is "fair" increasingly advantages only a shrinking minority (of politically active people) and a new "regime of fairness" will be ushered in. The beauty of a functioning democracy is that regime change occurs peacefully and comparatively gradually.