Create a Capital Gains Tax

Posted by 62tp on February 07, 2017

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
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

Create a Capital Gains Tax