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.
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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
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Gareth Dixon tagged this with important 2017-02-07 15:12:53 +1300
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Gareth Dixon tagged this with good 2017-02-07 15:12:52 +1300
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Create a Capital Gains Tax.
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Malcolm Fletcher published this page in How would you make New Zealand Fair Again? 2017-02-07 10:54:27 +1300