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Mad Scientist
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  #1136745 24-Sep-2014 17:07
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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?




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  #1136850 24-Sep-2014 18:53
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Would depend on how much the value of your house has changed from the previous year. I don't know how the council values houses.

 
 
 
 


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  #1136852 24-Sep-2014 19:00
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I don't think people pushing for annual paper value cgt/l have any idea about maths




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  #1137176 25-Sep-2014 10:09
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 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.

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