We agree. They work more productively over there because Australia takes advantage of their abundant natural resources. We don’t.
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A CGT won't change anything for property developers their income on which they are taxed would be considered capital gain for the rest of us.
Admittedly govt debt has doubled over the last few years and it is hard to see that anything substantial has come from it.
Tax rates don't need to rise with a CGT we could offset it by dropping GST or income taxes. Maybe if we had a CGT everyone would be paying roughly 20%.
Cause it is a load of crap. Bruce just says much what you would say. Envy tax, tall poopy syndrome, without the wealthy society would collapse, they are the wealth generators and job creators if you bring in a CGT and they will leave and NZ will collapse.
Interesting that Bruce provides opinions on how to run the country on a regular basis in the herald. I am not sure how long has he been chairman of Asset Plus but if that is the best he can do for one of the smallest simplest companies on the NZX I do not know how he would go managing a country of 5million. I imagine centuria appoints the board and have done OK along with the board of directors over the years but the plebs look like they have had their wealth halved under Bruce's leadership. I don't really know if this is true but play the man not the ball as I always say.
He did not let us down in the article though, he finished with the quintessential threat of leaving and taking his wealth with him. What a co*k. Although to look at his CV I am being unfair and he does a hell of a lot for NZ. Maybe just spread himself too thin to provide better governance at APL.
Last time I looked it was motivated hard working young people leaving NZ for opportunity abroad rather than the rentiers who are firmly entrenched and fighting hard to keep their comfortable position.
Yup - a mechanism which they adjust up and down to effect the outcome they want especially in the higher end private residential property market.
In 2021, 80 percent of the resident population in Singapore lived in public housing developed by the Housing and Development Board (HDB). Every Singaporean adult is guaranteed a home under their public housing scheme which was adopted from the UK in the 1960s but vastly improved to meet the needs of Singaporeans.
Simple question which again, relates to what I posted before. How do other developed countries that have a comprehensive CGT, become far more productive and whipping NZ in increasing the standard of living? Specifically, why are houses more affordable in those countries? I will tell you why. It's because there are too many property speculators that have turned housing, into a game of trading shares of a company. They've commoditised houses where the losers are those that can't afford to buy one but are forced to pay the price. We have insane high land prices where the infrastructures are paid for privately instead of co-funded with the gov't. High levels of regulations 'Green Party' environmental restrictions, lists goes on. We're heading really fast to where we will be living in tents.
Sorry behind the pay wall but Sir Ian Taylor risks missing out on invites to flash parties with his blasphemy on tax.
https://www.nzherald.co.nz/business/...LJC2JND4ZWNIE/
He suggests a capital gains tax would be a good idea and might pave the way to reduce GST to help those most in need.
I agree with him taxing unrealised capital gains is a bad idea and agree taxing realised capital gains should start asap.
He also mentioned that when trying to help a couple of Swedish employees to get taxed in NZ as Sweden had a higher tax rate they declined as they were proud to pay taxes in their country. They did not see it as a burden but part of their social contract.
Perhaps they needed to talk with David Seymour who could point out that the success of their country was probably due to low tax rates in the 1860s. David obviously a deep thinker as most of us would have not realised this.
Another smart person believes that we should have a CGT - Sir Ian Taylor
https://www.nzherald.co.nz/business/...LJC2JND4ZWNIE/
Hey dobby, I hear the maori are out of control in labour party. Better watch out, they can be nasty basta*ds....
So much for pushing all things maori, "special people" you know... after all, they only want to take over the country, and just needed silly old Labour to help them along.
Watch your back. Jacinda got stabbed good and proper by the look of it.
You know - I thought that this thread was about CGT but neither of you seem to want to discuss that.
Neither comment has anything to do with Sir Ian supporting a CGT.
Keep the politics in the politics thread rather than spray it around!