Create a Capital Gains Tax

Create a Capital Gains Tax

Your current tax proposal is not workable. I'm all for taxing capital gains but taxing my home? That's simply silly and unworkable. I would have to be able to claim any interest on loans and any upkeep and what rate would you tax 'this pretend' income at? What income am I making? Whereas, if an investor buys a house and sells it 4 years later for 100% profit he doesn't pay ANY tax on the 400k he just made? Whereas, if the house I own's value goes up by 400% I'm now going to be paying more tax. Completely mental.

Showing 6 reactions

  • Dave Smith
    tagged this with important 2017-02-26 16:47:52 +1300
  • Dave Smith
    tagged this with good 2017-02-26 16:47:51 +1300
  • Gareth Dixon
    tagged this with important 2017-02-07 15:12:53 +1300
  • Gareth Dixon
    tagged this with good 2017-02-07 15:12:52 +1300
  • Malcolm Fletcher
    posted about this on Facebook 2017-02-07 10:57:19 +1300
    Create a Capital Gains Tax.
  • Malcolm Fletcher
    published this page in How would you make New Zealand Fair Again? 2017-02-07 10:54:27 +1300