Which returns me to my original argument.
If someone buys a property, rents it out, runs it at a loss for the entire time that they own it, and then sells that property for more than they paid for it then - in the absence of any other valid reason - they bought it with the intention of making a profit on the resale.
Therefore, under current tax law they should pay tax on that profit.
No need to wally around with any new taxes, the IRD should just apply the tax law they already have.
If someone buys a property, rents it out, runs it at a loss for the entire time that they own it, and then sells that property for more than they paid for it then - in the absence of any other valid reason - they bought it with the intention of making a profit on the resale.
Therefore, under current tax law they should pay tax on that profit.
No need to wally around with any new taxes, the IRD should just apply the tax law they already have.
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