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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@elZorro
The issue of CGT and banning foreign non-residents from buying NZ real estate, wouldn't be on the radar if the Auckland housing boom didn't get so out of control. Too many NZ people wanting their 1st home have been left behind; at what cost? - so only the rich & wealthy to make the gains? Now the gov't is targeting those that made massive gains in real estate, YET, can't discriminate between different asset classes so they would include sharemarket gains.
One thing certain with real estate is the banks have no quarrels at lending on those assets. But go and try to borrow the same amount (by going margin) in a brokerage account ? to invest in shares? Not a chance.
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