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Thread: whats your thoughts on the CGT

  1. #61
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    Quote Originally Posted by mashman View Post
    Thoughts on the CGT.

    An excellent tool................. for the entrenched to justify their entitlement. What's not to love about it.
    I'm not entitled, I'm providing houses for people to live in while at the same time making sure I'm not a burden to the taxpayer into my old age while also paying a pile of tax.
    How do you think renters & the country would get on if people like me didn't do that?
    I'm happy to drop it & run & then complain about cunts like me in the future though.
    I'm due a bit of my tax back, but I fear means testing will put paid to that.
    Oh to be a loser.

  2. #62
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    Quote Originally Posted by Ocean1 View Post
    Amazing, you see tories under every bed. Gotta hate dem evel tories. What you read is more or less the opposite of what I wrote. Again.

    Again: I don't have a right wing bias, I have an abhorrence of money grubbing socialist behaviour from any government, national, labour or winston first. In some cases it's simple vote buying and in other's it's driven by ideology, but the outcomes are all the same.

    And like I said, if you think your opinion holds more weight than the UN's multi-metric annual HDI survey results then your every bit as deluded as your incoherent ranting indicates. And if you're using labour's definition of "poverty", which requires that everyone over 14 years old owns a cellphone then you're as intellectually crippled as they are. Now fuck off, I'm sick of your rabid, infantile ravings.
    Nearly every country in the UN has a CGT.
    So no right wing bias... aye yeah sure ocean whatever you say dont let anyone think, i said you may have a right wing bias, Because i never would say you might have one.
    I would say you clearly do have a blatantly obvious ring wing bias.

    Quote Originally Posted by Ocean1 View Post
    I think Bob and Ocean have already indicated several times that they don't give a fuck, you simply don't listen.

    If the costs of investing in a residential property goes up then either the income from that source goes up accordingly or we'll put our money somewhere else. I already have.
    Yeah yeah in post after post you have tried to say you dont care while ranting on about something that hasn't happened suggests you do care very very much. Which is sweet. You big softy.
    Quote Originally Posted by Katman View Post
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  3. #63
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    Quote Originally Posted by neels View Post
    That's rather a simplistic view.

    In actual fact, you have income and expenses, one of which is interest.

    If your expenses exceed your income you make a loss, which previously you were allowed to subtract from other income, so assuming you were making over $70k you could get a tax refund of 33% of the amount of your loss.

    This doesn't include mortgage principal, so you are actually paying the amount of the loss plus the amount of the mortgage principal payments out of your own pocket for the privilege of managing a rental property for the bank, and if you're lucky getting a couple of grand back as a tax refund.

    Of course now that these losses can no longer be offset against other income, they will be accumulated against any future income, so will probably be a great means of reducing any CGT liability when a property is sold.
    That is very succinct and I hope accurate. Early days yet, but. We've yet to see legislation. And its just output from the "ideas group" at this state.
    I thought elections were decided by angry posts on social media. - F5 Dave

  4. #64
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    Quote Originally Posted by husaberg View Post
    Heres the thing the oceans and the Bobs never mention
    Is you can claim the interests paid on the mortgage as a deduction on your taxable income when it run through a business.
    No one has said a CGT will apply to a persons Dwelling.
    As far as the original intention was it was to stop property speculators and investors getting away with not paying tax on income.
    Auckland has an undersupply of houses as the market was distorted by speculators some overseas buying up houses as it was a tax free option.
    this created an artificial undersupply of housing to buy which drove up the price further which in returned encouraged more to do the same until housing became unaffordable to the first home buyer.
    If you get rid of the tax free incentives at the same time build more houses the price stabilizes, The Auckland houses price increases were unsustainable anyway. The Bubble would has burst eventually.
    Remember how National spend years denying there was a Auckland housing crisis.



    Really America has a CGT Trumps was trup pledging or mentioned getting rid of it in his campaign?
    Seeing as he all about making america Great we can only assume its great with it? Or is he just going to sneak it through, like his alternative tax reform which was aimed at the mega rich avoiding more tax.
    Odd we have still never seen his tax returns how many years now still no returns.


    i found this from a leaked filing though.
    https://www.theguardian.com/us-news/...native-minimum

    Hey Jason isnt this the tax Trump reformed?
    The CGT specifically excludes your residential house. So yay.

    Any commercial property is in a money making entity anyway so the tax impost of this remains to be seen.
    I thought elections were decided by angry posts on social media. - F5 Dave

  5. #65
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    Quote Originally Posted by JimO View Post
    good, bad?..........
    Asset theft by socialist pricks under color of 'law' = taking from hard-working savers to buy votes from lazy people to vote for the Coalition of the Lazy, Corrupt and Incompetent.

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    Quote Originally Posted by JimO View Post
    entitlement? reward for risk i say
    Cool. When a CGT is considered theft by people who limit their tax liability and wonder why the government needs to create new taxes... it's entitlement. Some people have no honour.
    I didn't think!!! I experimented!!!

  7. #67
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    Quote Originally Posted by sidecar bob View Post
    I'm not entitled, I'm providing houses for people to live in while at the same time making sure I'm not a burden to the taxpayer into my old age while also paying a pile of tax.
    I know a few people that do the same things... well, to their chosen extent. Society prodives the houses, you just own them

    Quote Originally Posted by sidecar bob
    How do you think renters & the country would get on if people like me didn't do that?
    The wouldn't invest in housing and houses would be affordable.

    Quote Originally Posted by sidecar bob
    I'm happy to drop it & run & then complain about cunts like me in the future though.
    I'm due a bit of my tax back, but I fear means testing will put paid to that.
    Oh to be a loser.
    The left will see ya right in yer old age
    I didn't think!!! I experimented!!!

  8. #68
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    Quote Originally Posted by mashman View Post
    Cool. When a CGT is considered theft by people who limit their tax liability and wonder why the government needs to create new taxes... it's entitlement. Some people have no honour.
    No, it's not.

    https://dictionary.cambridge.org/dic...glish/entitled Feeling that you have the right to do or have what you want without having to work for it or deserve it, just because of who you are.

    You're thinking of that other lot: beneficiaries. Or politicians. Same thing.
    Go soothingly on the grease mud, as there lurks the skid demon

  9. #69
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    Quote Originally Posted by HenryDorsetCase View Post
    The CGT specifically excludes your residential house. So yay.

    Any commercial property is in a money making entity anyway so the tax impost of this remains to be seen.
    Er it hasnt got past the talking about it stage, and you are already saying its a Threesome?
    The way the tax laws working regards to rentals is a real porcine Buttocks.
    Not only that, Farms as well.
    I sent Bob a few examples of a few deals that show how much capital gains can be made in short duration's on a rising market.
    These deals were all above board but if they hadn't have been property they would have been subject to a fair wack of Tax.
    If Bob Pms me back i will explain why one of them was and 1 dollar, As not many people can say they got one over the ASB.
    One should never under estimate the inability of a banker to look beyond simple figures.
    Quote Originally Posted by Katman View Post
    I reminder distinctly .




    Kinky is using a feather. Perverted is using the whole chicken

  10. #70
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    Quote Originally Posted by husaberg View Post
    So no right wing bias... aye yeah sure ocean whatever you say dont let anyone think you i said you may have a right wing bias, Because i never would say you might have one.
    I would say you clearly do have a blatantly obvious ring wing bias.



    Yeah yeah in post after post you have tried to say you dont care while ranting on about something that hasn't happened suggests you do care very very much. Which is sweet. You big softy.
    Believing that re-distrubution of wealth by force is wrong doesn't represent a right wing bias. Believing otherwise concisely and absolutely represents socialist ideology. Believing that everyone should contribute to and benefit from any government activity equally is about as centrist as you can get. If you would say I clearly have a right wing bias then I'd say that matches the rest of your heavily socialist narrative: Delusional.

    You're really struggling with this, ain't ya? We can care that the government is progressing anti-productive and unfair policy, and be completely unconcerned that it'll affect us because we're not stupid enough to continue to provide subsidised housing if and when those policies remove any incentive to do so.

    All clear?
    Go soothingly on the grease mud, as there lurks the skid demon

  11. #71
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    Quote Originally Posted by Ocean1 View Post
    Believing that re-distrubution of wealth by force is wrong doesn't represent a right wing bias. Believing otherwise concisely and absolutely represents socialist ideology. Believing that everyone should contribute to and benefit from any government activity equally is about as centrist as you can get. If you would say I clearly have a right wing bias then I'd say that matches the rest of your heavily socialist narrative: Delusional.

    You're really struggling with this, ain't ya? We can care that the government is progressing anti-productive and unfair policy, and be completely unconcerned that it'll affect us because we're not stupid enough to continue to provide subsidised housing if and when those policies remove any incentive to do so.

    All clear?
    Yeah yeah i really are buying you dont have a right wing bias, please tell me more how you are neither right wing biased to the right wing when you contatantly call everyone commies and socialists that doesn't hold your view why holding up everything right wing as being an ideal.
    Quote Originally Posted by Katman View Post
    I reminder distinctly .




    Kinky is using a feather. Perverted is using the whole chicken

  12. #72
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    Quote Originally Posted by husaberg View Post
    Yeah yeah i really are buying you dont have a right wing bias, please tell me more how you are neither right wing biased to the right wing when you contatantly call everyone commies and socialists that doesn't hold your view why holding up everything right wing as being an ideal.
    I call them exactly what they call themselves: socialists.

    Nor have I ever held up everything right wing as any sort of ideal.

    I just gave you my definition of centrism, if you don't think that's fair then tell me why instead of trying to label it "right wing" when it's intrinsically not.
    Go soothingly on the grease mud, as there lurks the skid demon

  13. #73
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    Quote Originally Posted by Ocean1 View Post
    I call them exactly what they call themselves: socialists.

    Nor have I ever held up everything right wing as any sort of ideal.

    I just gave you my definition of centrism, if you don't think that's fair then tell me why instead of trying to label it "right wing" when it's intrinsically not.
    Funny Your idea of centralist is just so happens to be to the right of Genghis Khan that all.
    Quote Originally Posted by Katman View Post
    I reminder distinctly .




    Kinky is using a feather. Perverted is using the whole chicken

  14. #74
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    Quote Originally Posted by husaberg View Post
    Funny Your idea of centralist is just so happens to be to the right of Genghis Khan that all.
    So you agree, every political entity in this country is radically left leaning.
    Go soothingly on the grease mud, as there lurks the skid demon

  15. #75
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    Quote Originally Posted by mashman View Post
    Cool. When a CGT is considered theft by people who limit their tax liability and wonder why the government needs to create new taxes... it's entitlement. Some people have no honour.
    the government wouldn't need to create new taxes if it spent the current tax take with a bit of care, but hey easy come easy go

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