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Thread: Are property investors the scourge of the earth?

  1. #1
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    Are property investors the scourge of the earth?

    So Andrew Little is the latest to have a crack at property investors, and while I personally think Labour don't have a snowballs chance in hell of getting elected, as I fall into the general category it's got me thinking.....

    http://www.stuff.co.nz/national/poli...e-tax-loophole

    Is it really small time property investors who are driving up prices in the housing market?

    If not investing in property, what else should people be putting their money into? (Blue chip finance springs to mind...)

    Are the tax rebates of reportedly $150m a year that bad?

    Given the $1-2k tax rebate per year on the average rental, could the gubbermint own, manage and maintain a house for someone to rent for the same money, or would the taxpayer end up footing the bill for the difference?

    The government (and seemingly the current opposition) want more houses built, will removing negative gearing increase or decrease the number of houses being built?

    Following on from the above, if the desire is for more houses then why was the tax rebate for depreciation of new rental houses scrapped, given that the accumulated depreciation was taxable when the house was sold?

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    increased coste for LLs will result in higher rents, many people will never own a home even if they were free because they are fuckwits, take the private LLs away and the gubbinment will never cope with housing the masses, that development that i saw announced on the TV last night will be a slum of the future

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    Quote Originally Posted by neels View Post
    Following on from the above, if the desire is for more houses then why was the tax rebate for depreciation of new rental houses scrapped, given that the accumulated depreciation was taxable when the house was sold?

    Express away........



    From ... https://www.interest.co.nz/personal-...enefits-invest

    The maximum possible depreciation of the investment property and its fixtures and fittings was claimed to maximize the available tax deductions.
    To me ... this suggests the maximum deprecation was always claimed ... regardless of circumstance. ie: Kiwi's got greedy.
    When life throws you a curve ... Lean into it ...

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    if the private "investor" didnt buy and rent out houses who would?The money the government or councils would have invested will come out of the taxes we all pay now?So the private investor may get a benefit from the funds invested in property a similar ammount invested in shares would not.But what or who is the alternative provider of rental properties?

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    I've always partly blamed the real estate agents as they push the prices as high as they can to maximise their 2% or 3% commission.
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    this all amazes me, anyone with money to invest wants to get the best return possible given the amount of risk they are prepared to take, there is nothing greedy about it.

    real estate agents push the price up as high as possible for several reasons, the primary one of course is because of commission but they also want return listings or sales as well.

    kinda reminds me of the whole debacle over ticket scalping and people screaming blue murder and wanting a law to control it, it really is very simple if people don't want to pay what the scalpers are asking then don't fucken buy them.

    ahhh well, while the masses are abusing the property investors they are leaving the poor dairy farmer alone

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    Quote Originally Posted by Oakie View Post
    I've always partly blamed the real estate agents as they push the prices as high as they can to maximise their 2% or 3% commission.
    Yeah, but nah. "standard" commission from Harcourts or Ray White is usually $500, plus 3.95% plus GST plus they expect to see vendor contributions to advertising. You wonder how those gurning fuckwits get their mugs on buses and billboards? that is how. It is completely fucking obscene.

    when I started (1993) a full fat commission was $500 plus 2.95% plus GST and the agent covered the marketing and shit. Oh, and an expensive house was $300k. Just to give you a sense of the obscenity that is real estate commission
    I thought elections were decided by angry posts on social media. - F5 Dave

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    Quote Originally Posted by russd7 View Post
    this all amazes me, anyone with money to invest wants to get the best return possible given the amount of risk they are prepared to take, there is nothing greedy about it.

    real estate agents push the price up as high as possible for several reasons, the primary one of course is because of commission but they also want return listings or sales as well.

    kinda reminds me of the whole debacle over ticket scalping and people screaming blue murder and wanting a law to control it, it really is very simple if people don't want to pay what the scalpers are asking then don't fucken buy them.

    ahhh well, while the masses are abusing the property investors they are leaving the poor dairy farmer alone
    there are fuck all poor dairy farmers in my experience
    I thought elections were decided by angry posts on social media. - F5 Dave

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    three out of the four places i went into today. pie shops and dairies, didn't ring the till, that's one thing that pisses me off, i pay my tax, what about them?

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    Quote Originally Posted by jellywrestler View Post
    three out of the four places i went into today. pie shops and dairies, didn't ring the till, that's one thing that pisses me off, i pay my tax, what about them?
    ask them for a GST receipt next time...

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    Andrew Little the fucking hypocrite bought an investment property, "just to see how hard it is for home buyers" Yeah, that's the trick, front foot it with your double standards, you may fool a couple of stupid people.

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    I see they're insisting on calling it a "loophole".

    As opposed to the more correct but entirely less newsworthy: "not paying tax on profit you don't make".
    Go soothingly on the grease mud, as there lurks the skid demon

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    Quote Originally Posted by HenryDorsetCase View Post
    there are fuck all poor dairy farmers in my experience
    actually a lot of poor dairy farmers and a whole lot more that are starting to hurt real bad right now but that wasn't what i was meaning, was more about the dairy bashing that goes on. some of it warranted but a lot not warranted.

    now, the hospitality industry and the way they treat staff from pay right through to work conditions is one that needs a real good effen shake up but wont happen because people will have to pay to much for their chai lattes.

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    jews all.


    vote akzle.

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    Quote Originally Posted by Moi View Post
    ask them for a GST receipt next time...
    i often choose eftpos but realised i was wasting my time as there's hundreds a day in some places...

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