The 2017 Election Thread

[Graystone]

Because taxing capital gains on residential property investments makes it more profitable to stick your money in the bank.

According to a local senior agent the market is already bulging with medium to low end properties as investors move equity elsewhere. And you thought you already had a housing crisis.

Or invest in local business. I fail to see the problem in making housing speculation unprofitable.

Must be a different market than the one I'm looking at then!

[TheDemonLord]

Here I thought TDL was king

I've only claimed to be a Lord, but now that you mention it....

[TheDemonLord]

Or invest in local business.

Most businesses aren't ready for outside investment, especially smaller, local Businesses.

[Ocean1]

Or invest in local business. I fail to see the problem in making housing speculation unprofitable.

Must be a different market than the one I'm looking at then!

Kiwis invest in their own businesses.

You don't see fewer rental properties available as a problem, then?

Dunno, hereabouts there's a bunch of low value, (read "deferred maintenance") properties for sale. And a lot of boomers buying their kids houses. Get the picture?

[Voltaire]

Kiwi's invest in their own businesses.

You don't see fewer rental properties available as a problem, then?

Dunno, hereabouts there's a bunch of low value, (read "deferred maintenance") properties for sale. And a lot of boomers buying their kids houses. Get the picture?

Whats low value is Wellington?

500K buys you a grotty flat an hours drive ( on the motorway/carpark) in very South Auckland.

I assisted one of my Sons into a nicer than my place house in Rotorua for just over 300 K a couple of years ago.

On $27 an hour as a just out of time sparkie he's living the dream me thinks.

[Voltaire]

I'd be surprised if it was only two.
Anyway, I was the guy that spent the day running around on an ageing Yamaha Majesty scooter that owes well under a grand, doing his chores today.
I'm not sure how many times I've denied myself the latest Porsche turbo in favour of buying property, but maybe it's time to stop paying tax on property & indulge myself so I look like more of a tool than I do riding my scooter & reduce my tax liability in to the bargain.

Go on ....treat yourself to Porsche.

[husaberg]

Go on ....treat yourself to Porsche.

He should buy a vintage one no depreciation and no CGT.....

[Graystone]

Kiwis invest in their own businesses.

You don't see fewer rental properties available as a problem, then?

Dunno, hereabouts there's a bunch of low value, (read "deferred maintenance") properties for sale. And a lot of boomers buying their kids houses. Get the picture?

It's not 1963 anymore, kiwis should wake up and invest in kiwi businesses to create wealth for the country, not just shift money around from rich to poor and back again. We've had significant foreign investment, so to go the profits...

I don't see why closing the CGT loophole should lead to fewer rentals available.

Not so much round here, we're still seeing prices double what the build price was less than ten years ago. With land an new build prices scaled to match. The only way the kids can afford to buy housing is help from the baby boomers when the purchase price is 5-10 years salary, instead of the 2-3 it was for their generation. How the fuck can you look at that situation, and not see anything wrong with it?

[TheDemonLord]

It's not 1963 anymore, kiwis should wake up and invest in kiwi businesses to create wealth for the country, not just shift money around from rich to poor and back again. We've had significant foreign investment, so to go the profits...

And why do you think that Kiwis don't invest in business?

Not so much round here, we're still seeing prices double what the build price was less than ten years ago. With land an new build prices scaled to match. The only way the kids can afford to buy housing is help from the baby boomers when the purchase price is 5-10 years salary, instead of the 2-3 it was for their generation. How the fuck can you look at that situation, and not see anything wrong with it?

Compare the size of house that was typical for a baby boomer to own as their first house to the size of first house that most people are looking to buy.

I don't think you can lay all the trouble at the feet of those evil investors.

I put forward that there are some social factors to consider - such as more people studying at uni for 3-5 years vs gaining an apprenticeship. Also people are entering into a committed relationship later in life (thus delaying the associated benefits), people are flatting for longer, often under the auspices of saving for a deposit, but yet still finding the time, money and energy to 'party' and generally enjoy life. Not that I'm saying life shouldn't be enjoyed - I'm saying that to play the long game, often has a better net result.

It's interesting cause last week I bought a new car, and on the test drive, the Sales guy (who was only a few months older than me) and he made a glib comment about Auckland housing - and was surprised to know that I owned a house (well, 28.9% of it) and we chatted about it. We talked about the individual choices we had made and where they had taken us in our respective lives. He echoed many statements and situations I've heard from people of my generation and yet as we talked, it always seemed to come back to the choices we made, as opposed to some overarching Boogeyman.

I guess it's easier to blame the fat cat investors, than to take a good look at the parts of yourself you don't want to look at.

[jasonu]

I am very surprised at the number of posters here that are OK, happy and willing to pay more tax, govt fees and higher prices all being proposed by your new leaders.

[Grumph]

I am very surprised at the number of posters here that are OK, happy and willing to pay more tax, govt fees and higher prices all being proposed by your new leaders.

Generally, it's because most here see that we have pretty good health, education and welfare programmes - payment for which comes out of that tax.

You voted with your feet. How much does your health insurance cost you ? Have you a retirement plan ? Is it affordable or will you simply come home and get NZ Super ?
Your current leader is taking you down the trade wars path, wait and see how much the US cost of living rises before throwing stones in this direction.

[jasonu]

Generally, it's because most here see that we have pretty good health, education and welfare programmes - payment for which comes out of that tax.

You voted with your feet. How much does your health insurance cost you ? Have you a retirement plan ? Is it affordable or will you simply come home and get NZ Super ?
Your current leader is taking you down the trade wars path, wait and see how much the US cost of living rises before throwing stones in this direction.

I am referring to the new and increased taxes your leaders promised wouldn’t happen.

As for me, health, dental and vision insurance for me and my wife is covered by my employer, my retirement plan is no different to what my friends in NZ have and when I do retire I will get social security (pension) until I die.
The cost of living in the states would have to dramatically increase to come even close to that of NZ. A dollar goes a LOT further here.

[sidecar bob]

Whats low value is Wellington?

500K buys you a grotty flat an hours drive ( on the motorway/carpark) in very South Auckland.

I assisted one of my Sons into a nicer than my place house in Rotorua for just over 300 K a couple of years ago.

On $27 an hour as a just out of time sparkie he's living the dream me thinks.

Well I would be too if my dad had stumped up a house for me.
Re the public health system. I currently have an injured wife & sick mother & have to say that the public health system is absolutely fucking brilliant compared to ten years ago, thanks to three terms under National.
My view is that currently, paying for additional health insurance is a complete rort & a waste of money, but maybe wait & see how fucked it is under a couple of terms with Labour before you all go chucking your policies away.

[oldrider]

The only income the government has - (is "your" income?) - Tax and borrow tax and borrow tax and borrow - who else is there to pay for that?

[Swoop]

That's a lame argument even for you.

But a valid one.
Much like the whining and throwing a paddy, that a fat kid who didn't make it to the pie shop before closing time throws, over the foreshore and seabed bill.
If it was so bad, then now's the time to "do it" while they are the gubbinment.

I think you really need to explain why income in your opinion that is solely derived from short term investments need to be not treated as income?
Especially when you consider that same profit of money placed in a bank earning interest is actually taxed as being income.

The problem is that it is all guesswork because of the lack of policy that the marxists have put out so far.

He should buy a vintage one no depreciation and no CGT.....

And low rego costs!