Capital gains taxes for residential property - a good idea?

Email
Print

Mon, 17 Aug 2009 12:00a.m.

Many argue that capital gains taxes are a good thing, but there is little political will to introduce them - especially for residential real estate.

Auckland University tax policy and law professor Craig Elliffe says a capital gains tax could raise up to $2.7 billion a year.
 
Watch the video

 

Become a fan of 3 News on Facebook and on Twitter.

Post a Comment

Before commenting, please take the time to read our moderation guide


(Won't be published)



Comments

18 Aug 2009 06:01p.m.

mg wrote:

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.

18 Aug 2009 12:04p.m.

Di wrote:

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.

17 Aug 2009 10:38p.m.

Tim wrote:

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

17 Aug 2009 07:27p.m.

joe wrote:

haha... professor Craig certainly look fat in the vedio

17 Aug 2009 11:50a.m.

Joe Dias wrote:

Perhaps this is the only way that NZ people will get out of this crazy way of investing. Besides this is the only country in the world that does not tax capital gains on residential property.It is high time this is done.However capital gains should not be taxed if one holds the property for more than 3 years. Some tax concessions should be given on the interest paid for the first home.