MAFS National Style*
National is grooming the voters for another dirty ACT.
tax
capital gains
Lies damn lies and tax analysis
National’s claim that a capital gains tax would reduce the value of an average worker’s Kiwisaver account by $64,000 over a 45 year working life seems to be as valid as Steven Joyce’s claim there was an $11.5 billion dollar hole in Labour’s draft budget.
CGT as a Charitable Donation
Treat CGT like a semi-voluntary donation and give people a say in how it is spent.
Why New Zealand needs a capital gains tax
Expert comment suggests that a capital gains tax will redress inequality, improve the economy and make housing more affordable.
‘Taxpayers union’ – too ‘stupid’ to understand tax?
There is a classic piece of waffle in the NZ Herald about when capital gains tax will apply to the family home. But the conditions when this applies are extremely simple and obvious. However professed experts on taxation like the so-called ‘taxpayers union’ can’t understand them. Probably because they are paid not to.
Spare a thought for our poor impoverished landlords
Spare a thought for poor landlords who are aghast at the thought that they should have to share capital gains on properties they have purchased with no intent of making a capital gain.
It’s the kiwi way
National is engaging in hysterical levels of hyperbole in its response to the Tax Working Group’s reform package.
In defense of taxing the family home
Let’s talk about why houses, art, and basically everything should be in the new Capital Gains Tax that Labour and New Zealand First should get onboard with, contrary to their reservations.
The Tax Working Group proposals
The Tax Party working group’s recommendations have been released.
National and its no tax promises
National have got out the old “no new taxes” songbook and are singing it as loudly as they can.
Tax Working Group report depressing reading
The Tax Working Group says the gaping holes in our tax system make it unfair and undermine its integrity, but the prospect of the electorate embracing even its limited recommendations on taxing capital gains make for depressing contemplation.
Cullen says 2020 election effectively a referendum on tax
Don’t hold your breath for recommendations of radical tax reform from the Tax Working Group. Chair Sir Michael Cullen says the 2020 election will be a referendum on tax and he is already kicking for touch
Tumbleweeds from National on the Tax Working Group
A month ago Labour announced that Sir Michael Cullen would chair the tax working group and the National Party was cock-a-hoop! Steven Joyce […]
IMF: higher taxes for rich will cut inequality and won’t hurt growth
The International Monetary Fund (IMF) says it now favours higher taxes on the rich and has demolished the myth this might adversely affect […]
Labour won’t regain power until it wins the tax debate
Labour didn’t deserve to win on Saturday because, firstly, because it failed to bring a fully-fleshed tax policy to voters, and, secondly, it never attempted to win the ideological battle over tax. To succeed at the next election, Labour must begin work today to frame this debate.
Lets talk about tax policy
Tax is emerging as the big issue of this campaign. How valid are National’s claims that Labour will introduce a variety of new taxes and what has National’s record been like? Update: in a smart tactical move Labour has promised no new taxes will be introduced until after the next election.
The actual implications of a Capital Gains Tax
Matthew Whitehead looks at what the Greens, Labour and National really mean when they talk about a CGT.
Ardern cautious on capital gains tax
Jacinda Ardern will not campaign on a capital gains tax, but will seek advice and will not rule it out in a first term. The Nats have introduced a week form of CGT already. A more robust version needs serious consideration.
Greens will finally close property speculators’ tax loophole
The Green Party in government will end the tax advantages property speculators currently enjoy under National by implementing a comprehensive tax on capital gains
More thoughts on the Labour-Greens Budget Responsibility Rules
The Labour-Green Budget Responsibility Rules announcement this week ought to dispel the notion that Labour and the Greens cannot work together.
Bloomberg warns world of New Zealand’s toxic trusts
Bloomberg magazine has highlighted how foreign trusts are damaging New Zealand’s reputation and are being used for criminal activity.
Foreign buyers estimated at 29%
Most of the media has reported the Government’s “3%” spin on the extent of residential property purchases in NZ going to foreign buyers pretty uncritically. There have been honourable exceptions, and yesterday property editor Anne Gibson in The Herald joined them.
Financial capital is crazy OP. Time to strip it back to basics.
Financial capital is way over powered in our current political economic system. Every aspect of our lives has been financialised and securitised, from our homes to our educations. From our drinking water to our power supply.
Key’s Blind Trust vs Our Blind Faith
So Key’s lawyer reckons the PM directly requested that trust industry leaders lobby the Revenue Minister. On the other hand, PM DunnoKeyo reckons he did no such thing. That leaves some really big questions …
Key’s land tax – too weak
Reaction to Key’s land tax has been luke warm at best, with strong calls for more effective action. Labour is promising “a ‘tidal wave’ of big housing reforms”…
Key prepares to backflip on Auckland housing
John Key is preparing the ground for a reversal on National’s refusal to do anything about Auckland’s housing crisis.
The problem with free market capitalism
This morning’s Herald contains a story about a young man who with a family gift has managed to purchase eleven houses over the past five years and can afford to pay World of Warcraft all day.
Parasite Drive; the NBR Rich List
The NBR’s annual list of the one percent is out. No surprises that the growing inequality in New Zealand is working well for the parasites at the top of the hill.
NRT: This is wrong
“Auckland’s median house price rising a record 26 per cent to $755,000 over the past year..”. This is what a bubble looks like: when your house “earns” a top-end salary just by existing. And its a perfect example of why we need a capital gains tax.
Rushed policy is bad policy
National’s policy opens the door to more effective capital gains tax, thus irritating investors and their base, while probably not achieving anything in practice. The worst of both worlds. Bonus question – does this policy effectively underwrite losses when the property bubble bursts? Plus another bonus John Key lie!
Deborah Russell: Preliminary thoughts on the Government’s new tax
Deborah Russell is a senior lecturer in taxation at Massey University and was Labour’s candidate in Rangitīkei in the 2014 general election. In this post she sets out her preliminary views on National’s new tax.
CGT: the focus groups made Key do it
According to John Key the proposed tax on capital gains if a property is sold within two years of purchase is not a capital gains tax, there is no housing bubble in Auckland, and the proposed new tax does not represent a complete about face by the Government.
NRT: National’s hand-wringing on housing
Auckland house prices have exploded again. Houses get more capital gains than their inhabitants do in salaries. So what is the government doing about it? Nothing. They haven’t tried the economic basics.. Capital gains tax to decrease demand, or a building programme to increase supply. Meanwhile National’s landlord MPs laughing all the way to the bank…
Housing and capital gains tax
This week the Reserve Bank recommended adopting the Labour / Green capital gains tax, the National party denied and dithered, and Don Brash explained the truth about the property bubble.
(Image credit Foxy.)
Deborah Russell: does New Zealand actually have a capital gains tax?
A guest post by Deborah Russell responding to Government claims that we already have a capital gains tax on the sale of land.
Thoughts from the crowd on Tuesday night’s debate
I was in the front row of the audience at the Press leader’s debate between David Cunliffe and John Key. While the media in Auckland and Wellington might have called it one way, the people in Christchurch were only presented with one leader who understands the issues in this city, and it wasn’t the Prime Minister.