Where does this government get off?

https://www.stuff.co.nz/national/politics/300260832/how-the-
government-is-changing-rules-for-renting-out-your-main-home-
and-the-brightline-test?fbclid=IwAR1QbzBkx9QNXgqic4HwkO-aH5t
u1za9qXzD4JzAuhYngNBE9q2DoRgrAis

catwoman1974 - 2021-03-25 09:33:00

Why? Worried you have to pay tax on a previous tax free capital gain?

dcon - 2021-03-25 10:09:00

if you're not living in it, how can it be your main home?

sparkychap - 2021-03-25 10:24:00

Why not just bring in a capital gains tax for all property sales and be done with it?

apollo11 - 2021-03-25 10:35:00

apollo11 wrote:

Why not just bring in a capital gains tax for all property sales and be done with it?

For all businesses, sure. Like landlords and investors.

sparkychap - 2021-03-25 10:37:00

sparkychap wrote:

For all businesses, sure. Like landlords and investors.

Why do people even need to own houses? The eventual desired result is a socialist utopia, where no one owns private property. The State will own everything and look after all of our needs, for a modest rental fee of course.

apollo11 - 2021-03-25 11:04:00

apollo11 wrote:

Why not just bring in a capital gains tax for all property sales and be done with it?

Add in other assets as well and drop income tax. Grand idea.

After all, Labour's policy before canned by the Prime Minister was 15% - not up to 39%.

Ms Ardern would have to step down first of course and Mr Robertson would be Prime Minister.

artemis - 2021-03-25 11:06:00

apollo11 wrote:

Why do people even need to own houses? The eventual desired result is a socialist utopia, where no one owns private property. The State will own everything and look after all of our needs, for a modest rental fee of course.

Yep, the rich will pay and there will be equality and nirvana. As France found out when they tried it.

artemis - 2021-03-25 11:08:00

apollo11 wrote:

Why do people even need to own houses? The eventual desired result is a socialist utopia, where no one owns private property. The State will own everything and look after all of our needs, for a modest rental fee of course.

Perfect, I won't even need to buy my own tin foil hat.

sparkychap - 2021-03-25 11:10:00

sparkychap wrote:

For all businesses, sure. Like landlords and investors.

Yep are there any other businesses that can operate marginally or at a loss every year and then claim the capital tax free.

Even with retirement homes which can be seen as essential. There are private companies on the NZX they don't operate in such a way.

No one is holding a gun to peoples heads and say you have to operate a property business if it's not economically viable.

Edited by rayonline_tm at 11:26 am, Thu 25 Mar

rayonline_tm - 2021-03-25 11:25:00

apollo11 wrote:

Why not just bring in a capital gains tax for all property sales and be done with it?

For what intention?

A CGT has not done anything to slow down price increases anywhere in the world where it's been implemented because it does nothing to address supply or demand.

Edited by loose.unit8 at 11:43 am, Thu 25 Mar

loose.unit8 - 2021-03-25 11:43:00

loose.unit8 wrote:

For what intention?

A CGT has not done anything to slow down price increases anywhere in the world where it's been implemented because it does nothing to address supply or demand.

I was being facetious. You won't get your socialist utopia with people owning their own properties.

apollo11 - 2021-03-25 12:12:00

loose.unit8 wrote:

For what intention?

A CGT has not done anything to slow down price increases anywhere in the world where it's been implemented because it does nothing to address supply or demand.

If it has not substantially slow down house prices. Is it a help yourself then? When other businesses need to account for capital.

Edited by rayonline_tm at 2:21 pm, Thu 25 Mar

rayonline_tm - 2021-03-25 14:21:00

loose.unit8 wrote:

A CGT has not done anything to slow down price increases anywhere in the world

It did in Chad

funkydunky - 2021-03-26 09:39:00

funkydunky wrote:

It did in Chad

Evidence?

loose.unit8 - 2021-03-26 09:54:00