Originally Posted by
neopoleII
interesting discussion regarding the pros and cons of a cgt, and the best ways to implement it.
i look at my mothers situation........
she turns 70 in 3 months time. has paid her house off in manurewa and is on a pension.
she has lived in this house for almost 40 years and runs a tight ship with her "income"
if a cgt were to come in based on appreciation of the value of her home year on year........
she would have no choice but to sell her home and leave the community she spent most of her life in......
just so the government can ""try and reduce demand"" in the blown out auckland housing market.
is this fair to the tens of thousands of elderly home owners who have no interest in property speculation.....
but will be overtly targeted by an all encompassing cgt tax???
IMHO.... shift industry more evenly around the country, shift migrants more evenly around the country,
control property speculators with more stringent banking rules.....??
if a potential government wants to target grandmas freehold home.... "and i mean HOME"..... they will surely lose
all the elderly votes.