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  1. #21
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    5,077

    Default

    They confirmed that if the study had treated other assets that also had a capital growth component the same way they treated rental property, then rental property would actually have a higher marginal effective tax rate because of local government rates.
    i.e Property Investment is taxed in the same way as other businesses + the addition of rates.
    DFTBA

  2. #22

    Default

    Quote Originally Posted by cube View Post
    i.e Property Investment is taxed in the same way as other businesses + the addition of rates.
    correct - and the inability to claim GST paid on anything as rent doesn’t attract GST.

  3. #23

    Default

    Quote Originally Posted by Don't believe the Hype View Post
    There is often much negative comment about what the Property investors associations are doing to dispel incorrect information.

    I think we should recognize good work when it's done. Here is a piece in the NZ Herald that covers off the ongoing myth of tax advantage in property. Well done Andrew.

    Now the challenge is to ensure the PR around this message is maintained.

    https://www.nzherald.co.nz/index.cfm?objectid=12081596

    The one element i think was missed - which might become phase 2 of the story is that all the work paid from by property investors attracts a GST payment (tax paid) that is not claimable due to rents not including GST. While this is not a push for rents to include GST it shows a further TAX disadvantage to property investment over other businesses.
    Good point about the GST. I see the big problem being the outlandish media bias against the general "run of the mill" conservative person and capitalist which usually would include your average landlord .The country is being pushed into Marxist leftism; look at the NZ Herald you couldn't get a job their if you said you would have voted for Trump over Hillary .

  4. #24
    Join Date
    Feb 2015
    Posts
    319

  5. #25
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,140

    Default Who's Exploiting Who?

    This bit seemed rather strained - hair splitting, even:

    Renters United claims that the existing tribunal system is funded by tenants. This is wrong. The system is funded by the interest earned on holding bonds.
    . . . bonds provided by tenants.

    Before this system was introduced, bonds were held by landlords and they retained the interest earned. Landlords lost this income when the new system was introduced. So it is landlords who actually pay for the system.
    That's an even bigger stretch.

    Misguided - Much?

    Perhaps Ranters Untied could open their eyes and see how Taxcindarella et al actually do treat tenants?

    Government pockets $37 million in unclaimed tenancy bonds
    19 March 2018

    Tens of millions in unclaimed tenancy bonds reclaimed by Government
    10 July 2015

    Gummints just love free money, so don't be swayed by their, 'those poor tenants' crocodile tears.

    The ministry also takes all reasonable steps to locate and contact tenants after a tenancy has ended.

    Bah! Humbug!

    Renters United says that the system to sort out tenancy disputes must be fair, timely and well resourced, which sounds perfectly reasonable. However their definition of reasonable is anything but fair.
    Maybe the Ministry and Ranters Untied could compare their definitions of just what's "reasonable?"
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