Join! it's $20

10. Do these taxes exist overseas? How do other countries deal with this problem?

10. Do these taxes exist overseas? How do other countries deal with this problem?

Answer

In Europe they address it via a range of taxes, the most common one being wealth taxes. These are inefficient because they are a double tax and invariably countries use a multiple of exemptions to try and get around that issue. The end result is that not all the tax gets collected. In the US (which has a 40% estate duty for wealth over $5.4m) indicating a desire to act against concentration of wealth. Other ways to try and deal to it include capital gains tax, property taxes, stamp duty, estate duty and inheritance taxes. All of these solutions are poor cousins to simply plugging the hole as we propose.

Showing 3 reactions

  • James Turnbull
    commented 2016-12-07 21:43:56 +1300
    OK, this is getting really silly as the questions don’t make sense ?

    WHAT PROBLEM is it that we are discussing here please …
  • George Adam
    commented 2016-12-07 12:47:24 +1300
    We lived in France for a few years prior to returning to New Zealand.
    We paid two taxes each year on the property we owned, Tax Habitation, your suggested “rent” on homeowners and Tax Fonciere, our rates.
    Tax habitation stopped at age 60, rates obviously carried on.
    There were also capital gains tax, on sale of property, on Non EU citizens and on all owners of second and subsequent homes.
    Income from rental properties is taxed and deductions severely limited.

    Your suggestions are, I hope, only a part of your tax policy, before I join the party I look forward to seeing all your policies, not just revenue.

    Might pay to speed up the process, could be an election sooner rather than later.
  • Oliver Krollmann
    followed this page 2016-12-07 09:50:34 +1300