Some of us weren’t far off with the gambling levy, being an online service after all.
Actually some solid proposals there, I’m impressed.
Some of us weren’t far off with the gambling levy, being an online service after all.
Actually some solid proposals there, I’m impressed.
We also tax capital gains though. The bright line test and all that.
Which is only meant to capture people who flip houses. And it looks like National wants to weaken even that again.
I am OK with capturing people who flip houses. I don’t think we should be punishing people for buying a house and living in it long term.
And fuck national. All they are going to do is to drive house prices back up again.
Your comment illustrates my wider point - people in New Zealand see a lot of CGT as “punishing people”, yet it’s just a normal tax on a profit in most countries, no more a punishment than taxing wages is a “punishment for working” or consumption tax is a “punishment for eating”.
Yeah I think National want house prices higher.
Most countries make an exception for the family home when it comes to CGT.
But yes income tax is punishment for working and consumption tax is punishment for consumption.
We want to encourage retirees to sell their large house and move into a smaller one so we should not impose CGT on property sales if the person lived in it for a long time. If you are hellbent on punishing people then at least make an exception if they buy another house within a year.