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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Originally Posted by minimoke
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Its an issue with the asset class. If you have your capital in a property GST is generated. If you have it in say shares there is no GST because no money is being spent on the upkeep of the capital
As I pointed out, that is taxing 100% of the non inflation gain.
There will be a pile of known and unintended consequences. Is it really worth it for the $1b or so in extra tax they hope to generate.
Some investors in shares have their shares in a custodial service sometimes with fees paid either at a flat rate or as a % of the value for the custody and sometimes an extra % paid for additional “advice”. So they also pay GST.
Currently investors in fixed interest investments have all the return taxed as income (including the inflation component.)
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