Is Labour going to continue to allow housing investors’ bubble to astronomically inflate price of housing?
Its fine to charge a capital gains 👉🏼tax on actual profit (ie capital gain) after investment (not primary home) real estate is sold, but not an annual speculative CGT
Its fine to charge a capital gains 👉🏼tax on actual profit (ie capital gain) after investment (not primary home) real estate is sold, but not an annual speculative CGT
I’d be interested to know how many non-primary home investment properties the people (whether politicians or otherwise):
1. On any committee related to CGT
2. In Parliament (in every party)
3. Lobbyists
& for each, how much nontaxed profit their investment properties made/20 yrs
1. On any committee related to CGT
2. In Parliament (in every party)
3. Lobbyists
& for each, how much nontaxed profit their investment properties made/20 yrs
Capital Gains Tax is a tax on PROFIT (and should only come into effect when an investment property is sold)
It is 1% domestic & foreign investors (and Real Estate agents, valuers, and property lawyers) who whinge over making less profit, or object to any obstacle to profiteering
It is 1% domestic & foreign investors (and Real Estate agents, valuers, and property lawyers) who whinge over making less profit, or object to any obstacle to profiteering
Money from Capital Gains Tax should be ear-marked by the govt to buy tracts of land to lease at low rates to home and apartment owners; so the effect of the outrageously inflated value of land which is preventing buyers from access to an affordable home, can be built.
Annual land leases of govt owned lands would mean an annual govt income, that would help govt w cost of building & maintaining govt housing for the poor
It would mean when a house resells, resale value is related to the house or apt/condo only, not land.
Land Lease would pass on
It would mean when a house resells, resale value is related to the house or apt/condo only, not land.
Land Lease would pass on
By removing the value of the land from houses on govt leased land when they are on-sold - the outrageously high Real Estate fees (for doing next to nothing, and which automatically inflate the supposed value of the property), would be decreased
The 3rd pic below is an example
The 3rd pic below is an example
Another way for the govt to put a brake on profiteering in housing market is to:
👉🏼Eliminate or severely restrict Negative Gearing
Negative Gearing is another method being used by wealthy investors to avoid or minimize tax, while building their currently non-taxed land bank
👉🏼Eliminate or severely restrict Negative Gearing
Negative Gearing is another method being used by wealthy investors to avoid or minimize tax, while building their currently non-taxed land bank
A study by Aust govt shows 76% of households are better off by eliminating negative gearing.
Landlords lose some tax write-off benefits but eliminating neg gearing does not eliminate write off of expenses against income
The overall benefit is positive
rbnz.govt.nz/-/media/Reserv…
Landlords lose some tax write-off benefits but eliminating neg gearing does not eliminate write off of expenses against income
The overall benefit is positive
rbnz.govt.nz/-/media/Reserv…
