Capital gains taxes for residential property - a good idea? - Video

A very dicey bee's nest entered here, To follow the world and take away what is unique to NZ is something we must approach cautiously. Property is part of the NZ vernacular. We would need to tread very carefully in terms of % charged. Rest assured that if this is introduced we would almost certainly see a sharp rise in rental to compensate, pushing rental rates to the giddy heights of Europe. So yes more money in the coffers of the politicians BUT less money in the average kiwi blokes pockets!
Be careful there is a lot more to it, the stone in the pond idea... the ripples will spread wide and upset the balance of the pond!
Not a good idea.

capital gains tax on INVESTMENT residential real estate is a fair and reasonable taxation; other investment income is taxed, why not real estate? A principal residence, or family home, should be exempt from taxation; but where more than one home is owned, the party elects which is their principal residence and pays CG tax on other recreational or investment properties. In boom times, this will also help keep housing prices within the grasp of new home buyers.

To the idiot that cant spell Video... learn to do so before trying to insult someone.