Originally posted by eri
View Post
Announcement
Collapse
No announcement yet.
Capital Gains Tax? Keep related posts in this thread, please.
Collapse
X
-
CGT - recognition of investment used to create increase in capital?
Apologies if this has been addressed before...
Does anyone know if the proposed CGT will provide room/ allowance for money spent in improving the capital value of a house.
Say if I buy the house for $500k, spend $100k on renovations, and sell it for $700k - would my profit then be recognised as only $100k (as opposed to $200k)?
Would the CGT only be applied to money I made, after deducting the $100k expense I incurred/ invested?
Comment
-
Swindlers' List
Surprise card could help Labour sell a capital gains tax 'lite'
"A modest rate of tax today can be adjusted later once it becomes accepted."
And Winston First has to be persuaded, too.
Nothing would suit Winnie better than to proclaim on the 2020 hustings that he had saved NZ from a CGT.
Comment
-
Originally posted by hopetown View PostApologies if this has been addressed before...
Does anyone know if the proposed CGT will provide room/ allowance for money spent in improving the capital value of a house.
Say if I buy the house for $500k, spend $100k on renovations, and sell it for $700k - would my profit then be recognised as only $100k (as opposed to $200k)?
Would the CGT only be applied to money I made, after deducting the $100k expense I incurred/ invested?
cheers,
DonnaEmail Sign Up - New Discussions, Monthly Newsletter, About PropertyTalk
BusinessBlogs - the best business articles are found here
Comment
-
Originally posted by hopetown View PostApologies if this has been addressed before...
Does anyone know if the proposed CGT will provide room/ allowance for money spent in improving the capital value of a house.
Say if I buy the house for $500k, spend $100k on renovations, and sell it for $700k - would my profit then be recognised as only $100k (as opposed to $200k)?
Would the CGT only be applied to money I made, after deducting the $100k expense I incurred/ invested?
Comment
-
House prices have flattened and has been so for a couple of years now. A CGT will have little impact.Profiting from Property, not People
Want free help on taking your portfolio to the next level?
Comment
-
Originally posted by DaveW View PostHouse prices have flattened and has been so for a couple of years now. A CGT will have little impact.
property.trademe.co.nz/market-insights/property-price-index/wellington-hits-new-record-while-property-prices-cool-in-auckland/
Comment
-
Originally posted by artemis View PostChecked Wellington prices lately? Suspect not. See Trademe's Feb 2019 analysis of listing sale prices on their site, link below. Auckland up only a wee bit in the year, most other locations well up. Listing prices, so not necessarily actual sale prices, but same calculation as Feb 2018 so comparable.
property.trademe.co.nz/market-insights/property-price-index/wellington-hits-new-record-while-property-prices-cool-in-auckland/
Meanwhile in Auckland today at the Bayleys auction the 8 houses attracted zero bids. Zilt. 2 apartments sold, one was at 2016 prices.Profiting from Property, not People
Want free help on taking your portfolio to the next level?
Comment
-
NZ Centre for Political Research (Muriel Newman)
March Poll
https://www.nzcpr.com/the-politics-of-a-capital-gains-tax/Profiting from Property, not People
Want free help on taking your portfolio to the next level?
Comment
-
Originally posted by DaveW View PostThose are investors too late in trying to get on the bandwagon. Unless you think all the home buyers have suddenly moved to Wellington?
Meanwhile in Auckland today at the Bayleys auction the 8 houses attracted zero bids. Zilt. 2 apartments sold, one was at 2016 prices.
Comment
-
Originally posted by artemis View PostOfficial monthly figures for new bank lending to property investors, now about one third of mid 2016 number (as at Feb 2019). Talking up to nearly $2 billion down from 2016. That's a month. And thousands of rentals down a month. Not a lot of new lending to investors then.Profiting from Property, not People
Want free help on taking your portfolio to the next level?
Comment
-
Follow The Money
Originally posted by DaveW View PostReason enough why we don't need a CGT at this time.
Most of it in most cases is inflation.
That's why comrade commissar Cullen's TWG said there should be no adjustment for inflation.
That way, the gummint gets real purchasing-power money from the illusory money of changes in numbers, re-badged as capital gains.
Comment
Comment