Originally Posted by
SBQ
On a slightly different issue, i'm not at all impressed that almost all the banks in NZ (except Kiwi Bank) are foreign owned. That is, the profits they make are to the benefit of the shareholders abroad. I'm not saying there should be laws to discourage foreign ownership but I do think NZ is way behind in terms of shifting from non-productive 'real estate assets' to investing in more liquid assets like shares in business all over the world. However, our tax laws discriminate dearly with preferential (or lack of tax) on real estate vs more productive assets like equities.