https://tinyurl.com/375483wa
This is so poorly thought out it is laughable.
It kicks of in 2027. It excludes every asset that hits the private
homeowner or Kiwisaver account holder with exemptions. It also
excludes inheritances and ignores the fact that in many circumstances
capital gains are already assessed as income and taxed accordingly.
Liability for a CGT occurs only on the sale - so tax revenue from it
will be microscopically small, probably until at least 2030.
There is also the consideration that the housing market in general is
flat or falling - so there will be no prospect of capital gains worth
taxing.
So if this is the basis of Medicard funding (3 GP visits a year, no
mention of means testing this so even 'rich pricks' get this) will not
be in place for many years to come. There is no suggestion that the
Medicard will not be introduced until the new CGT can fund it, so in
the meantime Medicard funding will have to come from borrowing or
reduced Government spending. Labour Governments are good at borrowing
and have never reduced Government spending anywhere. Even the income
tax reductions introduced with GST were revenue-neutral at the time.
Hipkins has demonstrated that he has not learned any lessons from past
Labour Governments. That's is probably OK though because National are
too timid to call out Labour's policy for what it is with a well
thought out rebuttal.
https://tinyurl.com/375483wa
This is so poorly thought out it is laughable.
It kicks of in 2027. It excludes every asset that hits the private
homeowner or Kiwisaver account holder with exemptions. It also
excludes inheritances and ignores the fact that in many circumstances
capital gains are already assessed as income and taxed accordingly.
Liability for a CGT occurs only on the sale - so tax revenue from it
will be microscopically small, probably until at least 2030.
There is also the consideration that the housing market in general is
flat or falling - so there will be no prospect of capital gains worth
taxing.
So if this is the basis of Medicard funding (3 GP visits a year, no
mention of means testing this so even 'rich pricks' get this) will not
be in place for many years to come. There is no suggestion that the
Medicard will not be introduced until the new CGT can fund it, so in
the meantime Medicard funding will have to come from borrowing or
reduced Government spending. Labour Governments are good at borrowing
and have never reduced Government spending anywhere. Even the income
tax reductions introduced with GST were revenue-neutral at the time.
Hipkins has demonstrated that he has not learned any lessons from past
Labour Governments. That's is probably OK though because National are
too timid to call out Labour's policy for what it is with a well
thought out rebuttal.
On 2025-10-27, Crash <nogood@dontbother.invalid> wrote:
https://tinyurl.com/375483wa
This is so poorly thought out it is laughable.
We have to remember that Hipkins is out of the Adern stable. As such the >Labour ship is still very much on the same course. Except no excuse to spend >and borrow as per covid.
Fueling this is also the fact that Adern is still regarded higly by many >people, the legacy of Covid.
There is several issuses which seem to have ended up in a chaos >discussion/debate.
It kicks of in 2027. It excludes every asset that hits the private
homeowner or Kiwisaver account holder with exemptions. It also
excludes inheritances and ignores the fact that in many circumstances
capital gains are already assessed as income and taxed accordingly.
Liability for a CGT occurs only on the sale - so tax revenue from it
will be microscopically small, probably until at least 2030.
There is also the consideration that the housing market in general is
flat or falling - so there will be no prospect of capital gains worth
taxing.
So if this is the basis of Medicard funding (3 GP visits a year, no
mention of means testing this so even 'rich pricks' get this) will not
be in place for many years to come. There is no suggestion that the
Medicard will not be introduced until the new CGT can fund it, so in
the meantime Medicard funding will have to come from borrowing or
reduced Government spending. Labour Governments are good at borrowing
and have never reduced Government spending anywhere. Even the income
tax reductions introduced with GST were revenue-neutral at the time.
Hipkins has demonstrated that he has not learned any lessons from past
Labour Governments. That's is probably OK though because National are
too timid to call out Labour's policy for what it is with a well
thought out rebuttal.
The question of the taxation share arose last year, CGT has been on and off >the table for several years. There is a view that landlords are not of any >use and just are getting richer.
What is NZ trying to active with a CGT? I would argue it purpose is to put a >very cold lid on the housing market so that housing is no longer seen as a >fast sure way to make money. The money can be put into something which is >productive, increasing the GDP.
The matter of CGT is a big issue, ideally it would be nice to see a multi >party approach. This would remove the political aspect some what.
On 29 Oct 2025 03:25:10 GMT, Gordon <Gordon@leaf.net.nz> wrote:
On 2025-10-27, Crash <nogood@dontbother.invalid> wrote:Not quite correct - when Hipkins took over as PM he tried to distance
https://tinyurl.com/375483wa
This is so poorly thought out it is laughable.
We have to remember that Hipkins is out of the Adern stable. As such the
Labour ship is still very much on the same course. Except no excuse to spend >> and borrow as per covid.
himself from Ardern with a 'policy bonfire'. It did not quite work.
The general direction that Ardern took Labour to are now considered to
be unwanted legacy policies. No more 'be kind' etc.
Fueling this is also the fact that Adern is still regarded higly by manyYes - a CGT tax is considered an 'envy' tax to be paid by 'rich
people, the legacy of Covid.
There is several issuses which seem to have ended up in a chaos
It kicks of in 2027. It excludes every asset that hits the private
homeowner or Kiwisaver account holder with exemptions. It also
excludes inheritances and ignores the fact that in many circumstances
capital gains are already assessed as income and taxed accordingly.
Liability for a CGT occurs only on the sale - so tax revenue from it
will be microscopically small, probably until at least 2030.
There is also the consideration that the housing market in general is
flat or falling - so there will be no prospect of capital gains worth
taxing.
So if this is the basis of Medicard funding (3 GP visits a year, no
mention of means testing this so even 'rich pricks' get this) will not
be in place for many years to come. There is no suggestion that the
Medicard will not be introduced until the new CGT can fund it, so in
the meantime Medicard funding will have to come from borrowing or
reduced Government spending. Labour Governments are good at borrowing
and have never reduced Government spending anywhere. Even the income
tax reductions introduced with GST were revenue-neutral at the time.
Hipkins has demonstrated that he has not learned any lessons from past
Labour Governments. That's is probably OK though because National are
too timid to call out Labour's policy for what it is with a well
thought out rebuttal.
discussion/debate.
The question of the taxation share arose last year, CGT has been on and off >> the table for several years. There is a view that landlords are not of any >> use and just are getting richer.
pricks'.
What is NZ trying to active with a CGT? I would argue it purpose is to put a >> very cold lid on the housing market so that housing is no longer seen as a >> fast sure way to make money. The money can be put into something which is
productive, increasing the GDP.
The matter of CGT is a big issue, ideally it would be nice to see a multi
party approach. This would remove the political aspect some what.
The CGT proposed by Hipkins is a tax on 'rich pricks' to fund GP
visits - that includes 'rich pricks' visits to a GP. Duh!! We
already have a community services card for those on low incomes and
you would have thought that at least to start with the free GP visits
would have been restricted to community services cardholders,
especially given the CGT revenue will be low with gradual increases.
This is because the CGT applies only to properties sold and only to
capital gains from a 2027 start date.
National would never want to have any part of this and for good
reason.
On 2025-10-29 21:59:57 +0000, Crash said:
On 29 Oct 2025 03:25:10 GMT, Gordon <Gordon@leaf.net.nz> wrote:
On 2025-10-27, Crash <nogood@dontbother.invalid> wrote:Not quite correct - when Hipkins took over as PM he tried to distance
https://tinyurl.com/375483wa
This is so poorly thought out it is laughable.
We have to remember that Hipkins is out of the Adern stable. As such the >>> Labour ship is still very much on the same course. Except no excuse to spend
and borrow as per covid.
himself from Ardern with a 'policy bonfire'. It did not quite work.
The general direction that Ardern took Labour to are now considered to
be unwanted legacy policies. No more 'be kind' etc.
Fueling this is also the fact that Adern is still regarded higly by many >>> people, the legacy of Covid.Yes - a CGT tax is considered an 'envy' tax to be paid by 'rich
There is several issuses which seem to have ended up in a chaos
It kicks of in 2027. It excludes every asset that hits the private
homeowner or Kiwisaver account holder with exemptions. It also
excludes inheritances and ignores the fact that in many circumstances
capital gains are already assessed as income and taxed accordingly.
Liability for a CGT occurs only on the sale - so tax revenue from it
will be microscopically small, probably until at least 2030.
There is also the consideration that the housing market in general is
flat or falling - so there will be no prospect of capital gains worth
taxing.
So if this is the basis of Medicard funding (3 GP visits a year, no
mention of means testing this so even 'rich pricks' get this) will not >>>> be in place for many years to come. There is no suggestion that the
Medicard will not be introduced until the new CGT can fund it, so in
the meantime Medicard funding will have to come from borrowing or
reduced Government spending. Labour Governments are good at borrowing >>>> and have never reduced Government spending anywhere. Even the income
tax reductions introduced with GST were revenue-neutral at the time.
Hipkins has demonstrated that he has not learned any lessons from past >>>> Labour Governments. That's is probably OK though because National are >>>> too timid to call out Labour's policy for what it is with a well
thought out rebuttal.
discussion/debate.
The question of the taxation share arose last year, CGT has been on and off >>> the table for several years. There is a view that landlords are not of any >>> use and just are getting richer.
pricks'.
What is NZ trying to active with a CGT? I would argue it purpose is to put a
very cold lid on the housing market so that housing is no longer seen as a >>> fast sure way to make money. The money can be put into something which is >>> productive, increasing the GDP.
The matter of CGT is a big issue, ideally it would be nice to see a multi >>> party approach. This would remove the political aspect some what.
The CGT proposed by Hipkins is a tax on 'rich pricks' to fund GP
visits - that includes 'rich pricks' visits to a GP. Duh!! We
already have a community services card for those on low incomes and
you would have thought that at least to start with the free GP visits
would have been restricted to community services cardholders,
especially given the CGT revenue will be low with gradual increases.
This is because the CGT applies only to properties sold and only to
capital gains from a 2027 start date.
National would never want to have any part of this and for good
reason.
In yesterday's newspaper it said only three GP visits per year would be free.
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