tyrael
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Giving people tax incentives for rental mortgage means more investment in property.
Politics 🗳️ NZ Politics
- Thread starter wizard of Tauranga
- Start date
Corrupt
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Fisheries Minister Shane Jones overrode official advice for fines related to leaking fishing boat footage
Documents reveal the minister was told the proposed maximum fine, five times a Privacy Act breach penalty, was "unreasonable".
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- Thread starter
- #24,463
Even though people must have housing (although I could counter we just over crowd and increase homelessness when supply doesn’t meet demand), if you ram disincentives and add cost, the product just becomes more expensive for the same house to be built.
- Thread starter
- #24,464
I would counter rental properties managed as a business normally pay a higher interest rate than you and me home owners.
And the issue is business lending painful and a massive disincentive having to jump through hoops. There’s a reason many leverage their private house to fund a business.
Again, incentivising business investment is not penalising homeownership. Plus due to risk profiles, there will still be people diversifying into property.
If you ascribe overcrowding and homelessness to a lack of supply, what do you think will happen to price when you reduce demand?
As for "ram disincentives and add cost" these are conversations separate to the ones we are having. If I remove CGT from start up companies, what "disincentives and costs" are added to the housing market?
tyrael
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Sorry I didn't mean businesses, I mean mortgages on a house.
The far right and their manufactured culture war. Their version of free speech is free to be a cnut and not get called out about it.
And here's ACT going full MAGA - ICE NZ anyone?
- Thread starter
- #24,469
What’s the tax advantage of rental property investment?
They have to pay the same as any other businesses. Eg all businesses can claim interest as a cost. Labours interest rules were unheard of world wide and as an accounting practice.
Now property had tax disadvantages other business don’t face: bright line, ring fencing of loses.
How many people does your average rental employ?
miket12
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Sanitarium employ well over 500 staff in NZ and I pay more tax on my rental than the SDA's pay in tax on Sanitarium's revenue last year of $225 million.
miket12
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@Lord Gnome of Mooloolaba, one of the former heads of the CRL project, Sean Sweeney, has come out and said that he thought the project should have been delivered for half the price if design changes were made earlier. From your time doing governance and review over the project, do you think he's right?
True but with an economic activity of $500M they are a net benefit to NZ. The issue is unfair competition
tyrael
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Stuff: Latest breaking news | New Zealand
www.stuff.co.nz
cruel-or-crucial-simon-bridges-demands-urgent-clear-out-cbd-vagrants
Why can't we solve the problem rather than sweep it under the carpet?
The problem is, depending on who you talk to, you'll get a range of answers as to what is causing the problemStuff: Latest breaking news | New Zealand
cruel-or-crucial-simon-bridges-demands-urgent-clear-out-cbd-vagrants
Why can't we solve the problem rather than sweep it under the carpet?
From my eyewitness evidence of seeing these people on a daily basis, it appears to be more of a mental health problem rather than inequality / house prices / crime. Though the usual suspects will tell you it is because house prices are too high, or that it is systemic racism (it's not - there are plenty of different colours on our streets)
Just stand near one of them on the way to work and you quickly see that a nice warm room and clean clothes won't solve anything
We do need move on orders. Auckland CBD is the shop window for international tourism and it needs to be safe and clean to be attractive for tourism.
The move on orders are a band aid though
The more money you pour into "helping the homeless" the more homeless you end up with. Its a pretty clear statistic. It turns human suffering into a profit center.Stuff: Latest breaking news | New Zealand
cruel-or-crucial-simon-bridges-demands-urgent-clear-out-cbd-vagrants
Why can't we solve the problem rather than sweep it under the carpet?
Most people don't want to hear it but the solution is asylums for the truly mentally ill and harsh sentencing for vagrant criminals
tyrael
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Yeah that's the problem. Bandaid is ok but what's the plan after?
Of course it's a complex problem but we need to do more as society to figure it out. Some help is better than no help.
tyrael
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Well nothing is happening so the status quo stays.
The problem is they aren't getting help and homelessness is getting more. Wellington 15 years ago was essentially blanket man and a couple of others. There are heaps now.
NZ spends nearly half a billion dollars on homelessness. That number has been steadily increasing. Please look into global empirical evidence. California spent $20B on homelessness and the rate doubled. Now they are blocking audits into where the money went.
As I said, asylums and harsher sentencing for vagrant criminals. That would solve 75% of the issue, less than the 93% estimated by the US DEA
Yeah I think the mental health angle needs a lot more work
I imagine a lot of these people should actually be in proper care facilities
What's my solution? I'd tidy up the ACC system and reallocate a lot of funding to mental health care facilities. ACC is leaky as f*ck, and a lot of that health money should be better spent on fixing health, rather than massages for sprains
