Capital Gains Tax? Keep related posts in this thread, please.

[Keys]

https://www.tvnz.co.nz/one-news/new-...ould-cards-iwi

"It would be detrimental, primarily because we'd be spending more money on tax and we'd be spending less on our people."


No difference there bud.

[Wayne]

"It would be detrimental, primarily because we'd be spending more money on tax and we'd be spending less on our people."


No difference there bud.

For once I am totally aligned with the Iwi - I also want
"What we really want is equity at the end of the day - the ability for people to determine their own futures, their own destinys,"

[Perry]

Rampant racism in taxation.
Where to next?
GST?
Income?

[TurnipOrange]

If CGT is implemented and I have a Family Home for 20 years that has another House on the same property that I rent out and pay tax on. Would I have to pay CGT? Thanks for any help...Bob

[Wayne]

If CGT is implemented and I have a Family Home for 20 years that has another House on the same property that I rent out and pay tax on. Would I have to pay CGT? Thanks for any help...Bob

You need to wait on the final outcome - anything else is a guess at best.

[Bob Kane]

Did anyone think of this?

Tony Alexander in his recent column:

http://tonyalexander.co.nz/wp-content/uploads/2019/02/WO-February-28-2019.pdf

One impact of a CGT will be to boost road congestion. Why? People will be discouraged from working from home because if they claim tax
deductions for the home office proportion of their property applied to council rates, electricity etc. then they won’t be able to avoid CGT when they sell the house.

Forget about the road congestion bit - that's not important.
He's saying if you've claimed an office in your private home in your tax return then you'll be liable for CGT if you sell your home.
I would expect a lot of business people will be surprised that their private home would be liable for CGT.
Any comments?
Do we just stop claiming a business office in our homes?

[Perry]

The avowed intention of exempting the PPOR was always a sop to sucker the great unwashed.

I hold no doubts whatsoever that the future intent is to ensnare the family home.

Just got to sucker the great unwashed into voting for the CGT proponents until the trap is sprung on the unsuspecting and ignorant masses.

Such is the inherent nature of the socio-commie-comrades.

[jack2016]

If you had claimed home office deductions off your PPOR for a few years and then stopped claiming home office deductions when CGT law comes into force, would your PPOR be exempt?

[north shore]

Be interesting to know how many people claim home office deductions, I imagine it would be quite a few. I claim it for our rentals, but I am also a home based independent contractor so its that job as well.

[Bob Kane]

Be interesting to know how many people claim home office deductions, I imagine it would be quite a few.

I see school teachers are on strike again.
I recall they work long hours - and even mark homework at night when at home.
Do you think any of them claim a tax refund for an office in their home?
Won't they be excited to learn they could be up for CGT on their home.

[flyernzl]

I wouldn't worry to much about 'home office' stuff.

The pre-planned out come is, and will be, a CGT on residential rental property and only on residential rental property.

[north shore]

Yes, definitely looks that way Flyer

[Wayne]

I see school teachers are on strike again.
I recall they work long hours - and even mark homework at night when at home.
Do you think any of them claim a tax refund for an office in their home?
Won't they be excited to learn they could be up for CGT on their home.

You're joking right?
Teachers can't claim employment related expenses like that - all the time, power and space.

[Perry]

I am not a fan of growing the size of Government
3 Mar 2019

At both a local and national level, we have seen a rapid growth in the role Government seeks to play over recent years. In all that they do, they should seek to be respectful of the fact that every dollar they decide to spend, comes from the pockets of the working people they are serving. Unfortunately, I feel our elected officials have forgotten that very simple premise. Kiwibuild is the obvious one. Their public relations machine is obviously working well. We get a lot of noise about Kiwibuild. Lots of promises. Followed by stories about why those promises are broken.

Then comes the rhetoric about the shortage of workers. This from the same government who claimed there were no shortages and in doing so halted the proposed immigration of such workers. The Housing Minister seems to have a knack for talking. He needs to develop a knack for doing.

[Don't believe the Hype]

I am not a fan of growing the size of Government
3 Mar 2019

I keep hearing about a halt in immigration. I know of one Labour hire company bringing in 20+ people a week. Road worried, digger drivers, engineers all sorts.

There has been no halt to immigration from what I see.