sharetrader

View Poll Results: Should there be a Capital Gains Tax on Property

Voters
131. You may not vote on this poll
  • No

    213 100.00%
  • Yes

    74 56.49%
  • Goff is just an idiot

    2,147,483,658 100.00%
  • Epic fail for Labour

    1,935 100.00%
Multiple Choice Poll.
Page 29 of 101 FirstFirst ... 192526272829303132333979 ... LastLast
Results 281 to 290 of 1008
  1. #281
    Guru
    Join Date
    Aug 2012
    Posts
    4,656

    Default

    However If you bend over backwards to try to appeal to the globalised rich business people, who are prepared to travel from country to country, you may well end up with a backlash from the general population - and Brexit and Trump situations.

  2. #282
    Senior Member
    Join Date
    Jul 2007
    Location
    , , .
    Posts
    962

    Default

    Quote Originally Posted by SBQ View Post
    Haha! well, not if that's the only place for coffee in a, high traffic, tourist riddled place
    Let's not forget, minimum wage is on the rise so it won't be long that $10 coffees will be the norm. Plenty of ristos and food eateries closing up in downtown Christchurch because they can't make ends meet (fault of high regulation -> high building costs + higher wages). Bring on the inflation!!
    THey are closing down because of competiion, just too many of them. No other reason

    westerly

  3. #283
    Senior Member
    Join Date
    Nov 2018
    Location
    Christchurch
    Posts
    1,063

    Default

    Quote Originally Posted by westerly View Post
    THey are closing down because of competiion, just too many of them. No other reason

    westerly
    There are far fewer eateries and restaurants in downtown Chch today than pre-earthquake era. Far fewer businesses in the downtown core too = less workers = less meal plates and coffees to dish out.

    However If you bend over backwards to try to appeal to the globalised rich business people, who are prepared to travel from country to country, you may well end up with a backlash from the general population - and Brexit and Trump situations.
    I know this may be a bit off topic but what is exactly the cause of Brexit? From what I recall it's the mass invasion of migrants destabilizing the general population? Perhaps UK wanted to avoid the issues that Greece, Spain, & Italy experienced? In Trump's case, as Munger mentioned you have pro-democrat states in the US that have failed by turning their backs against wealthy businesses that create jobs. I mean you don't need a lot of common sense to see who generates the employment? or perhaps would the economy (and country) be in a more healthy state if the only jobs available was from the gov't?

  4. #284
    Guru
    Join Date
    Aug 2012
    Posts
    4,656

    Default

    Quote Originally Posted by SBQ View Post
    I know this may be a bit off topic but what is exactly the cause of Brexit? From what I recall it's the mass invasion of migrants destabilizing the general population? Perhaps UK wanted to avoid the issues that Greece, Spain, & Italy experienced? In Trump's case, as Munger mentioned you have pro-democrat states in the US that have failed by turning their backs against wealthy businesses that create jobs. I mean you don't need a lot of common sense to see who generates the employment? or perhaps would the economy (and country) be in a more healthy state if the only jobs available was from the gov't?
    ‘Mass invasion?”....’destabilisation” only if you believe the screaming tabloid headlines. Lots of causes and there are separate threads for those topics. Briefly many of the poorer people and communities who had been promised ‘Trickle down’” benefits from giving tax breaks to the wealthy, were left further behind by government policies. Many consequently were encouraged by populist politicians who urged the disaffected to vote for them with beguiling slogans such as “make America great again” and “bring back control”.

  5. #285
    Guru
    Join Date
    Aug 2012
    Posts
    4,656

    Default

    First homes in Auckland only for wealthy buyers or from wealthy families who can contribute toward deposits?

    Would exempting the family home from a CGT amount to a tax break for the wealthier?

    Why not boost income tax thresholds, KiwiSaver tax breaks or introduce a tax break for those who earn up to a certain level of fixed interest?

    https://www.nzherald.co.nz/business/...ectid=12205655
    Last edited by Bjauck; 21-02-2019 at 07:23 AM.

  6. #286
    Legend
    Join Date
    Apr 2008
    Location
    Sth Island. New Zealand.
    Posts
    6,428

    Default

    Quote Originally Posted by Bjauck View Post
    First homes in Auckland only for wealthy buyers or from wealthy families who can contribute toward deposits?

    Would exempting the family home from a CGT amount to a tax break for the wealthier?

    Why not boost income tax thresholds, KiwiSaver tax breaks or introduce a tax break for those who earn up to a certain level of fixed interest?

    https://www.nzherald.co.nz/business/...ectid=12205655
    Why should interest differ from any other form of income? Surely if interest was not taxed, then dividends and rental income shouldn't be either. (Although I'd be all for it )

  7. #287
    Guru
    Join Date
    Aug 2012
    Posts
    4,656

    Default

    Quote Originally Posted by fungus pudding View Post
    Why should interest differ from any other form of income? Surely if interest was not taxed, then dividends and rental income shouldn't be either. (Although I'd be all for it )
    Fixed interest, as a class of income, does tend to be the investment income that is earned by a broader cross-section of people.

    However I do agree with you that all investment income and capital gains should be treated the same. If the family home is exempt from a CGT (and income tax as currently) then why shouldn’t there be tax free thresholds for business and investment income and capital gains - especially for those who do not want to own their own home.

    For those who do not own (or cannot own) a family home, then they should have an exemption for their investments (up to a certain threshold?) For those that have a low value family home, then they should be given a CGT and Income tax allowance for other investments. Family home exemption (without a value limit) from a CGT could lead to a mansion effect in NZ.

    Perhaps one way to replace the family home exemption from a CGT would be to give all adult taxpayers an annual CGT exemption allowance equivalent to say 5% of the average house price at the start of the year. This could accumulate if unused in a particular year. The exemption could then off-set taxable realised capital gains whether they be from the family home, investment real estate or other investments.
    Last edited by Bjauck; 21-02-2019 at 09:15 AM.

  8. #288
    Legend
    Join Date
    Apr 2008
    Location
    Sth Island. New Zealand.
    Posts
    6,428

    Default

    Quote Originally Posted by Bjauck View Post
    Fixed interest, as a class of income, does tend to be the investment income that is earned by a broader cross-section of people.

    However I do agree with you that all investment income and capital gains should be treated the same.
    I did not say capital gains should be treated the same as income. CGT needs to be carefully designed and I eagerly await details of the announcement.

  9. #289
    Dilettante
    Join Date
    Mar 2010
    Location
    Down & out
    Posts
    5,407

    Default

    Winston has now told farmers that they should be exempted as CGT is only to stop short term speculation. This is getting better by the day !!

  10. #290
    Legend minimoke's Avatar
    Join Date
    Mar 2005
    Location
    Christchurch, New Zealand.
    Posts
    6,502

    Default

    Might be time to sell the shares and buy the second family home.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •