5. Isn’t it just a capital gains tax?
Answer
It’s nothing like a capital gains tax; they are totally ineffectual at halting speculation as we have seen overseas. This is an annual levy (like rates) and what it’s doing is making income tax fair. Without it, one section of society – the property owners – win at the expense of everyone else.
In the US it’s called the Trump Loophole, here we could call it the Bob Jones Loophole – after all he’s the guy that paved the way for Douglas and Richardson & of course wrote a book on how property prices are a free ride to riches so let’s all gear up big time.
Now look where we are – retiring baby boomers still loading up with debt at their age, to make themselves rich. They can’t all
sell at once.
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Ian Norman followed this page 2016-12-08 09:03:20 +1300 -
Tim O'Donnell commented 2016-12-07 21:05:08 +1300Why are they going to sell when they can rent them out at whatever they want (within reason? They’re going to rent it to make a profit & the market will set the rate ……. which will be a rate to make a healthy profit at the expense of the rentee
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James Turnbull commented 2016-12-07 15:24:13 +1300An ill formed answer written by whom … an 18 years old economics student who hated their parents ?
I don’t see many retiring people ‘loading up with debt to make themselves rich’
What I DO see Heartland Building Society (and others) offering high rate lending secured on debt free property so that THEY get rich … sounds like an answer Key or English would give to try and bamboozle people they regard as ignorant! -
Paulette Hirschman followed this page 2016-12-07 11:21:13 +1300
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Oliver Krollmann followed this page 2016-12-07 09:42:06 +1300