RYM - Ryman Healthcare

[Balance]

Lee Kuan Yew of Singapore passed on a piece of excellent advice when he was last in NZ - social welfare must be about providing a safety net, not a lifestyle choice.

Where is NZ today? Think of solo mums having 6 kids from 6 fathers as their right and the answer is clear.

And that is why a wealth or capital gains tax is an inevitability in NZ - matter of when, not if.

The government has to find the $$$ to find that ever growing welfare lifestyle choice.

[Baa_Baa]

Tax should never be imposed on unrealised gains imo.

Should only be on realisation of gains (or losses).

So which of the realised gains are you referring to, that in your view should be taxed?

[Balance]

So which of the realised gains are you referring to, that in your view should be taxed?

For RVs, resale of units be it straight unit sale or Right of Occupancy.

And BTW, I think a capital gains tax in NZ is well overdue along with a total revamp of the tax system.

[Rawz]

For RVs, resale of units be it straight unit sale or Right of Occupancy.

And BTW, I think a capital gains tax in NZ is well overdue along with a total revamp of the tax system.

Agree with that

[Bjauck]

For RVs, resale of units be it straight unit sale or Right of Occupancy.

And BTW, I think a capital gains tax in NZ is well overdue along with a total revamp of the tax system.

I agree that there needs to be a comprehensive CGT. It should include both occupational right agreement resale net capital gain and net capital gain on owner occupied housing, commuted as a charge registered on the title of the owner’s current home, and payable on the sale of the owner’s final family home or ORA if they move into a village.

[Biscuit]

I agree that there needs to be a comprehensive CGT. It should include both occupational right agreement resale net capital gain and net capital gain on owner occupied housing, commuted as a charge registered on the title of the owner’s current home, and payable on the sale of the owner’s final family home or ORA if they move into a village.

CGT aka property theft. CGT might be acceptable if: interest (mortgage) expense is tax deductible; applies only to property bought with borrowed money; applies to all assets including owner-occupied homes; excludes inflation.

[nztx]

CGT aka property theft. CGT might be acceptable if: interest (mortgage) expense is tax deductible; applies only to property bought with borrowed money; applies to all assets including owner-occupied homes; excludes inflation.

Property value increases might be a result of certain Political policies too

I dont altogether agree with enriching Govt for the fruits of it's sometimes wayward and shortsighted political
direction - to further empower them with windfall tax gains to then squander in further inept directions, again
largely the symptoms of further incompetent policy direction or their own failures

Movement in property values is a measure of truer changes in values of assets - but until sold is unrealised

If Govt's choose to effectively devalue the local fiat out of their fancy money creation schemes, then why punish
those who have had the nous to sensibly apply their own resources into something that better maintains truer
measurement of real value over the time ?


To those who advocate CGT, your Govt could tomorrow be looking over your fence thinking "We like what is yours"
and decide to inflict a tax to grab a large slab of your freehold without contributing anything to it ..

You would of course still be left wearing 100% of all the outgoings, with no contribution in on the
shared ownership plan.

Would that be something that you would enjoy experiencing ?

[Bjauck]

…
To those who advocate CGT, your Govt could tomorrow be looking over your fence thinking "We like what is yours"
and decide to inflict a tax to grab a large slab of your freehold without contributing anything to it ..

NZ Real Estate values are the result of government regulatory, fiscal and monetary policies. So their contribution currently is both magnificent and beneficent..

[Balance]

NZ Real Estate values are the result of government regulatory, fiscal and monetary policies. So their contribution currently is both magnificent and beneficent..

NZ is one of the very few OECD countries not to have a CGT.

[Bjauck]

CGT aka property theft. CGT might be acceptable if: interest (mortgage) expense is tax deductible; applies only to property bought with borrowed money; applies to all assets including owner-occupied homes; excludes inflation.

With that terminology, GST is theft and Income tax is theft too. Interest should be tax deductible, but of course with the family home your benefit of ownership (imputed rent) is currently exempt from income tax. That would need to become taxable.

Why should CGT have an inflation allowance when you are taxed on every bit of income earned just to pay for survival, let alone being given an inflation allowance?