A generic 0.5% land tax on all property will never fly politically, it will be hard enough to get a capital gains tax (that doesn't include the family home) across the line, let alone this.
A capital gains tax is something most people can understand - why should some income be taxed but not capital gains? (whether it be on property, share…
A generic 0.5% land tax on all property will never fly politically, it will be hard enough to get a capital gains tax (that doesn't include the family home) across the line, let alone this.
A capital gains tax is something most people can understand - why should some income be taxed but not capital gains? (whether it be on property, shares or businesses).
A worker pays tax on 100% of his income but not a more wealthy person. Even my National Party friends concede this point, though everyone is able to come up with the exceptions and problems with implementation such as allowing for inflation.
the last Labour government enacted excellent legislation that taxed any capital income from a residential rental (and/or speculative) property if it was sold within 10 years. this had the very desirable effect of slowing (and even slightly reversing) the raging inferno of increasing residential property prices. now the current nasties in government are going to repeal that excellent legislation which will have extremely deleterious effects on NZ's economy and society. a lot of msm is actively promoting the current government's decision to repeal that legislation of the last Labour government.
A generic 0.5% land tax on all property will never fly politically, it will be hard enough to get a capital gains tax (that doesn't include the family home) across the line, let alone this.
A capital gains tax is something most people can understand - why should some income be taxed but not capital gains? (whether it be on property, shares or businesses).
A worker pays tax on 100% of his income but not a more wealthy person. Even my National Party friends concede this point, though everyone is able to come up with the exceptions and problems with implementation such as allowing for inflation.
the last Labour government enacted excellent legislation that taxed any capital income from a residential rental (and/or speculative) property if it was sold within 10 years. this had the very desirable effect of slowing (and even slightly reversing) the raging inferno of increasing residential property prices. now the current nasties in government are going to repeal that excellent legislation which will have extremely deleterious effects on NZ's economy and society. a lot of msm is actively promoting the current government's decision to repeal that legislation of the last Labour government.