A significant chunk of GDP comes from property sales - property is an extremely unproductive asset. It does nothing for the economy. NZ money just goes around and around. Investing in commercial property would be a lot more beneficial to NZ. If there was insentive to invest in more productive assets, ideally which lead to overseas money coming in we are all better off.
We need to get real about the structure of our economy, especially our over-dependence on dairying, in the face of the contraction of China's. What can we do instead that creates genuinely productive assets?
Randomly got recommended this video, im not very well informed about anything politics related but found this very informative. you are great at speaking, good video 👍
If there was a capital gain tax in nz i would have all my investment propertys in a family trust. I would never sell . I would borrow money from the trust whenever i needed any. A stamp duty would slow over the top upgrading houses. If you thought nz house prices are insane , nz needs 2 things. A stamp duty, and a lower DTI . A lower DTI will probably come in time, it was just introduced at the wrong time in the cycle and it was a insane COVID/centre bank cycle at that
Why would you want to give the politicians more money under a CGT ? The reason they want more money is because they have mismanaged the money they have already received, which is considerable , there is no business that would do this, reward a complete failure and total incompetence with more ? This thought and propaganda is madness Let them work with what they have and exert some fiscal responsibility as they are employed to do In fact if we could sack and sue these incompetents maybe the motivation would prove more fruitful than a CGT on a overtaxed public
They can't afford to pay for all the people that's going to retire in the near future on top of not being able to run our normal services which are already failing. What you've said could be applied to any govt even ones that are doing well
There are two things partys propose that are probably good ideas on paper, but are the absolute kiss of death for them ever getting voted into parliament: - Raising the age of superannuation eligibility - Capital Gains Tax It'll never happen, compulsory retirement savings is also a bloody good idea when you zoom out, but it will also never happen.
I hope not. They take enough and spend it inefficiently. People owning multiple homes from existing stock is what drove the prices up..banks dont mind. We should have a cap of two houses per person unless they develop them..and no corperate or foreign ownership other than government unless they built them. Nobody who owns a lot is going to fix it..the didnt build it rentals crowd wont help. I have some compassion for the Renovation crowd.. nice sweater.
Change the message, NZ not having a capital gains tax makes us unique.The pot of gold at the end of the rainbow after working hard and paying off a house.
The Green Party wants a Wealth Tax but central government already has local government taxing wealth via property tax. Currently income tax has so many thresholds and the same applies to capital games tax. I have faced capital gains tax thresholds many times in my career/lifetime. How far back is government going to go with capital gains tax to generate enough tax to stop deficit spending. We have more problems between income tax, goods and services tax, property tax and any other tax revenue than try and find another way to tax the economy. The expense of the Treaty Principle Bill is just one example.
It is a waste of money....just a big rip off. Australias remedy is to offer overseas investors cap gains concessions a nd worse still negative gearing for foreigners who wish to invest in Australian housing purchases. Locals please do not apply. And NZers want this too.
Always knew wealth tax was a joke. Like we want people to save and build wealth, not spend or move their money out of NZ. Not to mention you're effectively taxing people twice. However, I thought CGT could fix some things. But 8B over 5 years? Elon spent more than 5x that on Twitter! Had no idea the numbers were that bad.
Yeah that was from a 2019 look at it so it will be interesting to see if the next round of conversations of this offer up new data of how much is expected to be raised AND what it gets used for. Rather than just some topic that tricks people into thinking their problems will get better
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A significant chunk of GDP comes from property sales - property is an extremely unproductive asset. It does nothing for the economy. NZ money just goes around and around.
Investing in commercial property would be a lot more beneficial to NZ.
If there was insentive to invest in more productive assets, ideally which lead to overseas money coming in we are all better off.
Andrew Bayly talked about Kiwisaver and encouraging that money to help fund infrastructure projects etc in NZ
We need to get real about the structure of our economy, especially our over-dependence on dairying, in the face of the contraction of China's. What can we do instead that creates genuinely productive assets?
100% agree, every policy that claims its going to solve all the country's problems I always ask "At what cost?"
it baffles me that people passionately advocate for people to pay more tax as if the govt is going to actually help them and not just waste the money
Tax takes money out of the economy, they can't waste it because they have already spent it.
Randomly got recommended this video, im not very well informed about anything politics related but found this very informative. you are great at speaking, good video 👍
Aussie has a capital gains tax, they've still got a housing crisis.
Too many people not enough houses
Yep. A capital gains tax makes a lot of sense. Spread the love.
Like giving a toddler crayons and paper to craft a masterpiece. And then blaming the lack of paper for the fact they didn’t produce it.
If there was a capital gain tax in nz i would have all my investment propertys in a family trust. I would never sell . I would borrow money from the trust whenever i needed any. A stamp duty would slow over the top upgrading houses. If you thought nz house prices are insane , nz needs 2 things. A stamp duty, and a lower DTI . A lower DTI will probably come in time, it was just introduced at the wrong time in the cycle and it was a insane COVID/centre bank cycle at that
Why would you want to give the politicians more money under a CGT ? The reason they want more money is because they have mismanaged the money they have already received, which is considerable , there is no business that would do this, reward a complete failure and total incompetence with more ? This thought and propaganda is madness
Let them work with what they have and exert some fiscal responsibility as they are employed to do
In fact if we could sack and sue these incompetents maybe the motivation would prove more fruitful than a CGT on a overtaxed public
They can't afford to pay for all the people that's going to retire in the near future on top of not being able to run our normal services which are already failing. What you've said could be applied to any govt even ones that are doing well
There are two things partys propose that are probably good ideas on paper, but are the absolute kiss of death for them ever getting voted into parliament:
- Raising the age of superannuation eligibility
- Capital Gains Tax
It'll never happen, compulsory retirement savings is also a bloody good idea when you zoom out, but it will also never happen.
I hope not. They take enough and spend it inefficiently. People owning multiple homes from existing stock is what drove the prices up..banks dont mind. We should have a cap of two houses per person unless they develop them..and no corperate or foreign ownership other than government unless they built them. Nobody who owns a lot is going to fix it..the didnt build it rentals crowd wont help. I have some compassion for the Renovation crowd.. nice sweater.
Change the message, NZ not having a capital gains tax makes us
unique.The pot of gold at the end of the rainbow after working hard and paying off a house.
The Green Party wants a Wealth Tax but central government already has local government taxing wealth via property tax. Currently income tax has so many thresholds and the same applies to capital games tax. I have faced capital gains tax thresholds many times in my career/lifetime. How far back is government going to go with capital gains tax to generate enough tax to stop deficit spending. We have more problems between income tax, goods and services tax, property tax and any other tax revenue than try and find another way to tax the economy.
The expense of the Treaty Principle Bill is just one example.
I think people have been pretty shocked at how much their rates have gone up so for sure some probably see that as a land tax already!
"where is the DARRTERR?"
🤣
Like act trolling with the treaty
It is a waste of money....just a big rip off. Australias remedy is to offer overseas investors cap gains concessions a nd worse still negative gearing for foreigners who wish to invest in Australian housing purchases. Locals please do not apply. And NZers want this too.
Won’t solve any problems you don’t think?
@@keepthechangenz It will keep interest in foreign buyers of real estate. It is the only way to go pending Trumps inauguration.
Always knew wealth tax was a joke. Like we want people to save and build wealth, not spend or move their money out of NZ. Not to mention you're effectively taxing people twice.
However, I thought CGT could fix some things. But 8B over 5 years? Elon spent more than 5x that on Twitter! Had no idea the numbers were that bad.
Yeah that was from a 2019 look at it so it will be interesting to see if the next round of conversations of this offer up new data of how much is expected to be raised AND what it gets used for. Rather than just some topic that tricks people into thinking their problems will get better