Winston Peters wants to know Labour's tax plans NOW!

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Forums › Politics › Winston Peters wants to know Labour's tax plans NOW!

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#1863178 13-Sep-2017 08:24

Anyone who thinks CGT will make a dent in house prices should look long and hard at countries that already have it and see whether their houses are appreciably cheaper. The UK does (and transactional Stamp Duty on houses and land as well), and certainly the houses are no cheaper than here by any means, and I think Australia does and likewise is no cheaper.

CGT will just raise revenue for the government - at our expense of course - it won't have any effect on house prices. I simply won't believe any politician who thinks CGT is about lowering house prices.

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#1863191 13-Sep-2017 08:38

Geektastic:

Anyone who thinks CGT will make a dent in house prices should look long and hard at countries that already have it and see whether their houses are appreciably cheaper. The UK does (and transactional Stamp Duty on houses and land as well), and certainly the houses are no cheaper than here by any means, and I think Australia does and likewise is no cheaper.

CGT will just raise revenue for the government - at our expense of course - it won't have any effect on house prices. I simply won't believe any politician who thinks CGT is about lowering house prices.

National have a policy, it just states we will tighten up on Res homes

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#1863330 13-Sep-2017 10:16

https://www.stuff.co.nz/national/politics/96756247/is-national-really-better-than-labour-with-the-government-books-well-not-really

Another interesting read for those interested

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#1864329 13-Sep-2017 10:48

If you want to take the investment heat out of the housing market, a more constructive way to do it than imposing yet another tax burden is to offer people a form of tax free saving for retirement other than property.

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#1864896 14-Sep-2017 08:13

For a man who wants to know other parties' tax details and costings, perhaps he should get his own house in order first.

Anyone who is thinking of voting for this man should listen to this first: http://www.radionz.co.nz/news/political/339374/the-leader-interview-winston-peters

I really don't think he has the mental comptetence or emotional intelligence to fully participate in society, let alone run a country

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#1864904 14-Sep-2017 08:24

Geektastic:

If you want to take the investment heat out of the housing market, a more constructive way to do it than imposing yet another tax burden is to offer people a form of tax free saving for retirement other than property.

Make it unpalatable to buy a house for investment, unless you are a longer term landlord. Make it very palatable to build. Who cares if the house sales have dropped 30% lately. That has had ZERO effect on housing stock. You need building not buying, so incentivise that

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#1864940 14-Sep-2017 08:58

tdgeek:

Geektastic:

If you want to take the investment heat out of the housing market, a more constructive way to do it than imposing yet another tax burden is to offer people a form of tax free saving for retirement other than property.

Make it unpalatable to buy a house for investment, unless you are a longer term landlord. Make it very palatable to build. Who cares if the house sales have dropped 30% lately. That has had ZERO effect on housing stock. You need building not buying, so incentivise that

It makes at least equal sense to incentivise non-property saving for retirement by offering the tax advantages that most comparable nations have but which NZ does not. It would certainly help going forward if they have to make Superannuation from the State means-tested or raise the age significantly higher.

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#1873686 27-Sep-2017 15:57

tdgeek:

Geektastic:

If you want to take the investment heat out of the housing market, a more constructive way to do it than imposing yet another tax burden is to offer people a form of tax free saving for retirement other than property.

Make it unpalatable to buy a house for investment, unless you are a longer term landlord. Make it very palatable to build. Who cares if the house sales have dropped 30% lately. That has had ZERO effect on housing stock. You need building not buying, so incentivise that

In some places non residents are not allowed to own property. Maybe start there. Eg apply land tax to all existing non resident owners.

The trouble is it is not a level playing field with overseas money vs local money, overseas money always win. It's not the case if you have population of 100 million, but in a population of 4 million the locals are very easily swamped if 0.00001% of the world's 7 billion people want to buy up your stock.

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#1873940 28-Sep-2017 08:17

Batman:

In some places non residents are not allowed to own property. Maybe start there. Eg apply land tax to all existing non resident owners.

Thats what they do in Dubai, and you can never get citizenship there either. If Winston had his way we would be doing that here too.

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#1873941 28-Sep-2017 08:20

Batman:

tdgeek:

Geektastic:

If you want to take the investment heat out of the housing market, a more constructive way to do it than imposing yet another tax burden is to offer people a form of tax free saving for retirement other than property.

Make it unpalatable to buy a house for investment, unless you are a longer term landlord. Make it very palatable to build. Who cares if the house sales have dropped 30% lately. That has had ZERO effect on housing stock. You need building not buying, so incentivise that

In some places non residents are not allowed to own property. Maybe start there. Eg apply land tax to all existing non resident owners.

The trouble is it is not a level playing field with overseas money vs local money, overseas money always win. It's not the case if you have population of 100 million, but in a population of 4 million the locals are very easily swamped if 0.00001% of the world's 7 billion people want to buy up your stock.

Exactly. a 100% ban on non resident ownership.

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#1873942 28-Sep-2017 08:21

Wiggum:

Batman:

In some places non residents are not allowed to own property. Maybe start there. Eg apply land tax to all existing non resident owners.

Thats what they do in Dubai, and you can never get citizenship there either. If Winston had his way we would be doing that here too.

Winston allows immigration, thats clearly documented everywhere

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#1873962 28-Sep-2017 09:27

tdgeek:

Wiggum:

Batman:

In some places non residents are not allowed to own property. Maybe start there. Eg apply land tax to all existing non resident owners.

Thats what they do in Dubai, and you can never get citizenship there either. If Winston had his way we would be doing that here too.

Winston allows immigration, thats clearly documented everywhere

I seem to recall in the late 70's / early 80's, Winston was very vocal about increasing the population of NZ??

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#1873999 28-Sep-2017 10:51

Things change with time.

And to have Americans and Russians buying up all the waterfront properties and jacking up prices all around, that pisses me off. It has nothing to do with investing money or job creation.

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#1874000 28-Sep-2017 10:57

Batman: Things change with time.

And to have Americans and Russians buying up all the waterfront properties and jacking up prices all around, that pisses me off. It has nothing to do with investing money or job creation.

Yep

20 kiwis at an auction prepared to pay 500k for a 500k house. 2 foreignors who think 650k is a steal, goes for 650k. That happens a few times, the house now has a standard accepted value of 650k, the 400k one on the next street is now a 500k house. None of this was caused by NZ economy or people. We earn kiwi salaries and pay foreign prices

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#1874012 28-Sep-2017 11:13

DaveB:

I seem to recall in the late 70's / early 80's, Winston was very vocal about increasing the population of NZ??

I think everyone would agree that a higher population helps us. But it has to be balanced. They need to bring their own houses, as the increased demand is artificial and quick. Given that a house exceeds excess baggage, they need to build here, so that our housing stock remains in line with current demand.

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