RT @JoshBBornstein: 65 year study confirms my research: Tax cuts don't lead to economic growth. Ping @Nick_Xenophon , @BCAcomau https://t.…
19/08/2017 9:13 PM
RT @attn: .@Schwarzenegger has a blunt message for Nazis. https://t.co/HAbnejahtl
18/08/2017 9:38 PM
RT @PositiveMoneyUK: Make Monetary Policy Fair: It's time to explore alternatives to 'conventional' QE. https://t.co/m6CFVojm7w #QEforPeopl…
18/08/2017 9:35 PM
@deirdrekent To be expected when income is taxed and capital gain not...
16/08/2017 9:22 PM
@bernardchickey @YourHomeLoanNZ Add ring fencing loses / deal to negative gearing and we might see some balance develop in the economy.
16/08/2017 7:36 PM
@bernardchickey Or take the job and do the right thing anyway - the RBNZ is "independent" after all...
16/08/2017 7:34 PM
@bernardchickey Not take the job because you would know you would be on a hiding to nothing. The link between earn… https://t.co/nxPRuAaT6t
16/08/2017 7:31 PM
RT @theyearofelan: Sure, the cancer was aggressive. But the chemotherapy was also very aggressive. There was aggression on both sides
16/08/2017 7:27 PM
@bernardchickey DTI+LVR+OCR all needed for financial stability & inflation.RBNZ can then push back on dumb policy f… https://t.co/CqXISZUHGq
16/08/2017 7:27 PM
@SelwynPellett Farming capital gains makes it hard to pay current expenses hence the need to externalise costs. Th… https://t.co/J1yevZAHft
14/08/2017 5:46 PM
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16
DEC 09

Ever wondered why?




A story as old as New Zealand politics, capital gains tax a near death experience in New Zealand. A New Zealand that desires so much to show the world how to do things properly, gst and no exceptions, have a care for the WTO rules, be an exemplary international citizen to the detriment of local interests even. But when it comes to a blanced tax, when it comes to doing something every other jurisdiction does CGT just gets too hard.

Only when you understand that whilst only 5% of the population at large have second properties close to 60% of our MPs hold more than the family home. Does that answer the question.

I was at a meeting recently and some there commented he had heard a comment that a change might be desirable but it would never happen, as it would influence that individuals tax paid. Wishful thinking, maybe, but the individual was high up in the IRD. I do not know what the incidence of second house ownership is in the top levels of the civil service but I suspect it is much higher than the 5% in the general population.

Maybe someone can correct me?
 


tags: cgt, gst, mps, conficts
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