NZ dollar & economics

[Hitcher]

Plus they are now talking about removing our no tax on capital gains system...that is going to remove a HUGE drawcard that overseas investors see in NZ, let alone tighten things on investors already here. Gutted.

I think not. Given New Zealanders love of investing in property and garnering capital gains from said, any Government that pulled such a stunt would not only get thrown from office but be condemned to an eternity of political obscurity and insignificance. And the chances of doing this in an MMP environment are as remote as a remote thing.

[cowpoos]

As much as I hate the way ACC raise their money, I suggest you live in a country that doesnt have ACC before complaining too hard about it

I was a hell of alot happier when ACC was allowed compitition...FMG acident insurance was a tenth of what I have to pay now...a tenth...!!!!!!!!!

[TwoSeven]

And guess what, the OECD agrees with you. Compared with countries that offer a similar level of social services NZ is not highly taxed. You also missed stamp duty and capital gains taxes in Australia.

Abstract from the OECD document linked above:

What is significantly different about Australia is that salaries are now on average 25% higher than in NZ for equivalent jobs.

So thats where the dumb bastards got the idea of intruding tax on rental properties. Probably the most stupid idea of the century.

NZ has this great propensity for taking stupid ideas and implementing them without any thought. One will have to wonder whats going to happen to all those people living in flats provided by people who are providing them as a retirement investment.

I could understand them doing it for professional rent firms and property developers who are in it to make a professional profit, but they could at least leave out the grannies who have the extra house.

[Lou Girardin]

Why should property investment be treated differently from other forms of investment?
Property's other than your primary home should bear a capital gains tax.

[TwoSeven]

About 1/3 of NZrs live in rented property provided as second houses. If you put a tax on this, many people will dump their houses. Where will everyone live ?

[Skyryder]

Inflation in the '80s did me a big favour. House prices soared, wages followed, and my good old Housing Corp mortgage stayed the same.

Just another reason why Rodgernomics and the so called level playing field was rolled out of the economic laboritory. "Can't have the plebians getting cheaper money than us" says Rodger Kerr to Rodger Douglas.

"We'ill fuck em" says Rodger Douglas and rodgered we were, good and proper.

Skyryder