Capital Gains Tax finally on a major party's agenda

[Usarka]

What do you think?

Personally i reckon that if we are going to have to pay tax it should be fair. And this means that some members of society shouldn't have an avenue of making money where they don't contribute especially when it's usually the more well-off. It also means that tax breaks shouldn't encourage people to invest in non-productive assets.

I've never given a party vote to labour before (gave them a electorate one once) but if they make this fair, and reduce the paye and company tax a bit to compensate then Labour will definitely be a choice for me for the first time ever come this election.

I expect a lot of opposition from farmers and investment property owners, but that sounds like to me a bunch of people who are having a good run and don't want their toys taken away In the famous words of Bill Clinton, this could be an interesting erection after all.

[Spearfish]

What do you think?

Personally i reckon that if we are going to have to pay tax it should be fair. And this means that some members of society shouldn't have an avenue of making money where they don't contribute especially when it's usually the more well-off. It also means that tax breaks shouldn't encourage people to invest in non-productive assets.

I've never given a party vote to labour before (gave them a electorate one once) but if they make this fair, and reduce the paye and company tax a bit to compensate then Labour will definitely be a choice for me for the first time ever come this election.

I expect a lot of opposition from farmers and investment property owners, but that sounds like to me a bunch of people who are having a good run and don't want their toys taken away

Capitol gains tax huh?
If only it was that simple it
Companies own supermarkets
fuel stations
bike shops
business working from home
factories
employers
etc
The Labour party are still a few billion short to pay for this terms bribe so who will be next?

[Usarka]

Capitol gains tax huh?
If only it was that simple it
Companies own supermarkets
fuel stations
bike shops
business working from home
factories
employers
etc
The Labour party are still a few billion short to pay for this terms bribe so who will be next?

Sorry you'll need to elloborate for the stupid amongst us (me).

I can't work out if it's your point or not, but I'm assuming companies would be included in paying captical gains.

(and no I still haven't forgiven labour for the election bribes the last time they got in)

[BoristheBiter]

What do you think?

Personally i reckon that if we are going to have to pay tax it should be fair. And this means that some members of society shouldn't have an avenue of making money where they don't contribute especially when it's usually the more well-off. It also means that tax breaks shouldn't encourage people to invest in non-productive assets.

I've never given a party vote to labour before (gave them a electorate one once) but if they make this fair, and reduce the paye and company tax a bit to compensate then Labour will definitely be a choice for me for the first time ever come this election.

I expect a lot of opposition from farmers and investment property owners, but that sounds like to me a bunch of people who are having a good run and don't want their toys taken away In the famous words of Bill Clinton, this could be an interesting erection after all.

Where i agree that there should be some sort of tax on investment, my savings gets taxed after all, i don't think the Labour party could make it far at all.

Their line has and always will be tax the rich to give to the poor so you either need to hide your wealth, move somewhere else or just don't bother.

Even the report carried out by Labour when they were last in government said this would be a bad idea.

[Usarka]

Their line has and always will be tax the rich to give to the poor so you either need to hide your wealth, move somewhere else or just don't bother.

And the change of heart might signal some changes in thinking within the Labour camp.....?

If they move their stance to "tax every one fairly" and in doing so close some of the loop holes that let the rich get away with paying no tax, then I'm all for that.

If they stay with their previous thinking of look after the poor to the expense of the rich then i agree they can fuck themselves with a stick.

[BoristheBiter]

And the change of heart might signal some changes in thinking within the Labour camp.....?

If they move their stance to "tax every one fairly" and in doing so close some of the loop holes that let the rich get away with paying no tax, then I'm all for that.

If they stay with their previous thinking of look after the poor to the expense of the rich then i agree they can fuck themselves with a stick.

And that is all they will do, they are Labour after all, just like National will sell off state assets.

9 political party's and no one to vote for
Who said choice was a good thing?

[Spearfish]

It basically anyone other than ma n pa home owner will be taxed.

In most parts of the world capitol gains tax has been passed onto tenants or the property never gets any capitol improvements, they become cash focused, birth of the slum lord.



Considering there are a few families helping their children into their first homes by being their "landlord" until they can stand on their own, does that mean they pay capitol gains tax once the kids go it alone?

Its a continuation of labours "Rich bastard" philosophys. Kill the flowers to feed the weeds sorta thing.

But at least is in true opposition to the current incumbents so maybe their is real choice this time.

The question I want to know is what will either party's do with the pseudo referendum results after the election?

[scissorhands]

If it wasn't for no capital gains tax and cheap cars, our incoming immigrant numbers would drop considerably

More incoming future kiwis would choose Oz instead, and overall investment would suffer.

Bugger all gains anyway in the future around property. Cant see that changing for a good while.

I agree in principle about making housing affordable, but that can be easily done if they really want to.

Labour have few guns to present, and this one is a proven winner with those without money or homes

60sq/m units could be made in a factory for $50k and shipped on trucks but then Fletchers will lobby like fuck so that wont happen...

[Big Dave]

Give any Govt a tax stick and they will hit you with it eventually. The interest will be if Mr Goff keeps his job after the pasting the Harold predicts.

[Big Dave]

>>More incoming future kiwis would choose Oz instead, and overall investment would suffer.<<

Most can't get in. Lot stiffer immigration criteria.

[Swoop]

Another stupid idea from the liarbour criminals.

They have been told it is a stupid idea many times, but hey, they know better.

If this is brought in, rental costs will go up to cover the owner's loss OR there will be far less rental houses on the market (as investors sell up) which will cause what... rental prices going up.

Liarbour pretend to support the "little guy" and the lower end of the socio-economic spectrum. This will really help them.

Well it won't. They will simply bleed the tax-paying middle classes by giving more handouts to the great unwashed.


EDIT: Looks like they want to out-do national with borrowing as well.

[Spearfish]

Sorry you'll need to elloborate for the stupid amongst us (me).

I can't work out if it's your point or not, but I'm assuming companies would be included in paying captical gains.

(and no I still haven't forgiven labour for the election bribes the last time they got in)

Anyone is assumed to be a property investor if its not for their own home, including commercial property.
So imagine what buildings, businessess, families trying to set their kids up in a home by being their "landlord", home run business, all are part of the mix.
Including any investments with your money KIWI saver has in property (usually used to balance risk over different types of investments).

[Spearfish]

I agree in principle about making housing affordable, but that can be easily done if they really want to.

Labour have few guns to present, and this one is a proven winner with those without money or homes

60sq/m units could be made in a factory for $50k and shipped on trucks but then Fletchers will lobby like fuck so that wont happen...

Its interesting what is condidered a starter home now compared to say 30 years ago.
30 years ago the house was a three bed rectangle with a choice of kitchen bench lengths in the middle of a muddy section with the expectation of "go to it".
I remember the whole cul-de-sac doing concrete parties, hand mixing concrete for drives and fences, all helping with decks..etc

Now its a 4 bed with en-suite, internal double garage, designer kitchen and only purchased if it meets with the approval of their "friends" on twitter.

[BoristheBiter]

Its interesting what is condidered a starter home now compared to say 30 years ago.
30 years ago the house was a three bed rectangle with a choice of kitchen bench lengths in the middle of a muddy section with the expectation of "go to it".
I remember the whole cul-de-sac doing concrete parties, hand mixing concrete for drives and fences, all helping with decks..etc
.

Ah yes 30 years on i still have the callused hands (and back pain) from digging it all out by hand.
Soft the new generation is, soft i tell you. they even get carpet.

[Spearfish]

Ah yes 30 years on i still have the callused hands (and back pain) from digging it all out by hand.
Soft the new generation is, soft i tell you. they even get carpet.

Carpet is no good it soaks up the oil and stains, stick with the polyurethane on the particleboard.

Fark is that my first "back in my day" moment?