With regards to paying cgt every year on paper value, If the house on my left sells for 100k k above valuation and the one on the right sells 100k below valuation, does ird pay me 30k or do I pay ird 30k?
The environment and wages don't really have much to do with a CGT... that's a rather farfetched argument you have.
Nothing to do with CGT, im just saying that some companies are reaping $100+ million net profits at the expense of the environment and off the backs of low wage workers. Perhaps CGT should be lower on the governments radar.
Fonterra is a great example with farmers set to make little to no profit this year due to $5.30 milk solid price.
Even if Fonterra gave $50,000 to each of the 2000 farms accross NZ they would still have something like $29 million net profit. On the environment, (waterways specifically) would it hurt Fonterra to fund special fencing on farms adjacent to waterways ???? considering they are the ones making $129 million net profit (in bad year) off the land that is being farmed. Sorry to pick on Fonterra, but if the government taxed them specifically where would they go ? cant pack up and take NZ farmland and cows with them.
Note: Fonterra board directors get $160,000 per year, the chairman gets $400,000 and committee heads can get discretioary payments of upto $30,000.....regardless of it being a bad year or not.
Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly
to your computer or smartphone by using a feed reader.
Trusted
