Header Ad Module

Collapse

Possible Budget changes to close loopholes for Property Investors

Collapse
X
 
  • Time
  • Show
Clear All
new posts
  • muppet
    Banned
    • Sep 2003
    • 10593

    #1

    Possible Budget changes to close loopholes for Property Investors

    The Budget may also target property investors, adding to the loopholes it closed last year, when it curbed depreciation that can be claimed on buildings.

    That change, which came into effect on April 1, is expected to generate about $685m in government revenue in the 2011-12 year, rising to $690m in 2013-14.

    "It's an area that might get a look in this time - there still are losses in real estate and I don't know if they have hit that on the head," said David Patterson, a consultant at Chapman Tripp.
    "It's that type of activity that has not yet been addressed."
    Mr Patterson said tackling loopholes in property investment may result in less political fallout for the National Party than further hikes on tobacco, where the excise was increased by 20% over the past year.
  • Davo36
    Fanatical
    • Sep 2007
    • 8450

    #2
    Bring it on. Those changes, and the resultant rent rises!
    Squadly dinky do!

    Comment

    • speights boy
      Fanatical
      • Aug 2008
      • 7935

      #3
      Correct Davo

      Surely it's just user pays.

      Comment

      • Hec
        Opinionated
        • Dec 2004
        • 248

        #4
        seconded, or would that be thirded ?

        Comment

        • halfempty
          Addicted
          • May 2008
          • 603

          #5
          Property Investment should be taxed the same as sinful drinking, smoking and whoring!

          And anyone making any money is doing so through a "Loophole", and not taxing the snot out of all investors who are all multi millionaires is the same as an incentive to fat cat Investors!!!!!

          Comment

          • AMR
            Addicted
            • Dec 2007
            • 886

            #6
            On a more serious note - What loopholes? Are there some that I haven't been told about?

            Comment

            • Wayne
              Fanatical
              • Jun 2004
              • 10899

              #7
              Is whoring taxed?

              And I want to know what loopholes I am missing out on - always late to the party :-(

              Comment

              • Bluekiwi
                Fanatical
                • May 2008
                • 4002

                #8
                Yeah I read that hoping to find out some detail on what this new offensive on property investign was, but nothing in the article that said what it exactly was, which left me a tad confused.

                As an aside the "Idiot Tax" on smokers is a double whammy doubly efficient tax system, as it makes money while reducing long term health costs.

                p.s. course any tax on beer would be just plain wrong, maybe this should be GST free as well.

                Comment

                • Toasty
                  Opinionated
                  • Nov 2011
                  • 193

                  #9
                  I'm gonna smack my accountant if I am not getting any of these "loopholes".

                  Comment

                  • Wayne
                    Fanatical
                    • Jun 2004
                    • 10899

                    #10
                    Beer is 'food' after all.

                    Comment

                    • speights boy
                      Fanatical
                      • Aug 2008
                      • 7935

                      #11
                      BUDGET PREVIEW: A Capital Gains Tax surprise?
                      Be prepared for a cat among the pigeons on Thursday at 2pm with an announcement of the introduction of a Capital Gains Tax.

                      Comment

                      • TheLiberalLeft
                        Banned
                        • Aug 2010
                        • 2630

                        #12
                        Despite the reasons given why CGT might now be palatable, the National Govt has alot of explaining to do to counter such a total about-face and those previous assurances it won't introduce a CGT.

                        Comment

                        • eri
                          Fanatical
                          • Sep 2008
                          • 7621

                          #13
                          makes sense in many ways

                          next will be raising the pension age

                          and/or means testing it

                          but that will likely be after the next election

                          after much consultation

                          and a mandate
                          have you defeated them?
                          your demons

                          Comment

                          • Bluekiwi
                            Fanatical
                            • May 2008
                            • 4002

                            #14
                            Originally posted by speights boy View Post
                            BUDGET PREVIEW: A Capital Gains Tax surprise?
                            Be prepared for a cat among the pigeons on Thursday at 2pm with an announcement of the introduction of a Capital Gains Tax.

                            http://www.nbr.co.nz/article/budget-...rise-wb-119276
                            Read it.
                            He is just sprouting his personal views, his wish list.
                            There is nothing to back up his "cat" that I can see, more like the shadow of pidgeon poop before it drops on his head that he can see.

                            Comment

                            • TheLiberalLeft
                              Banned
                              • Aug 2010
                              • 2630

                              #15
                              Would that be a similar mandate to what saw National come into power with substantially less than 50% of the eligible vote?

                              Comment

                              Working...