Politics 🗳️ NZ Politics

[miket12]

Listening to a Labour MP on the radio this morning didn't feel me with confidence that the majority of their MPs have any idea about how the CGT is going to work.

She was asked if any business would have to pay the CGT when capital assets were sold and she was adamant none would. When asked if there would be an exemptions so some would have to pay the CGT, again she was adamant that none would.

She said that most of the money would be paid from the capital gain from houses that weren't the main residence and the sale of commercial property.

It was then pointed out to her that owning a residential or commercial investment property was, by the IRD, considered a business that was about to collect rent and claim expenses and pay tax on any net income, and did that mean that they would be exempt from paying the CGT. She couldn't grasp how she had contradicted herself.

While we know that the legislation, if Labour ever get a chance to introduce it, will exclude investment properties run as businesses, she couldn't understand while that would be necessary.

 

[miket12]

One way to beat rates increases....

Former mayor selling his rare over-water bach in Northland

He jokes he hasn’t paid a rates bill for the property in his 22 years there.

www.oneroof.co.nz

 

[defensivebomb]

Don’t have to agree with everything about someone to appreciate their art. Could imagine him in the clubs at 2am gyrating to love will tear us apart peaking on ecstasy

Chewing his face off

 

[defensivebomb]

Listening to a Labour MP on the radio this morning didn't feel me with confidence that the majority of their MPs have any idea about how the CGT is going to work.

She was asked if any business would have to pay the CGT when capital assets were sold and she was adamant none would. When asked if there would be an exemptions so some would have to pay the CGT, again she was adamant that none would.

She said that most of the money would be paid from the capital gain from houses that weren't the main residence and the sale of commercial property.

It was then pointed out to her that owning a residential or commercial investment property was, by the IRD, considered a business that was about to collect rent and claim expenses and pay tax on any net income, and did that mean that they would be exempt from paying the CGT. She couldn't grasp how she had contradicted herself.

While we know that the legislation, if Labour ever get a chance to introduce it, will exclude investment properties run as businesses, she couldn't understand while that would be necessary.

My read of the CGT announcement-

It was a symbolic signal from Labour to potential supporters that they are going after landlords. And if you support that, you’ll get to visit the doctor for free (3 times)

The way they carved out everyone aside
from landlords told me they are tapping into that rich vein of anti-landlord sentiment. My take is that they think anti landlord sentiment runs deeper than it actually does. There isn’t really anti-commercial landlord sentiment, as those tenants are business owners. So really it is anti-residential landlords. Which includes a lot of NZers

Note - I am not a landlord

 

[Tragic]

Stuff

www.stuff.co.nz

Think I side with Winston here

I agree it should have started in NZ hands but also that Fonterra should have the right to sell.
Best outcome in my opinion would have been too ipo it as a separate company but Fonterras job is to maximize value for farmers which they are doing, so would have needed government intervention to make that happen.

 

[John Nick]

I agree it should have started in NZ hands but also that Fonterra should have the right to sell.
Best outcome in my opinion would have been too ipo it as a separate company but Fonterras job is to maximize value for farmers which they are doing, so would have needed government intervention to make that happen.

Winston having input in everything lately and trying to get the headlines and votes.

 

[Noitall]

Winston having input in everything lately and trying to get the headlines and votes.

Seemed to push back yesterday when Luxon tweeted about himself getting a deal done with Winston responding “we”got a deal done