Refurbishing rentals

I have no problem with requiring landlords to ensure that their rental properties are fit for purpose - including insulation and heating to ensure tenants wellbeing.

My problem is that private citizens are required to achieve this two years earlier than the State. NZ Housing has a large portfolio of state owned housing, but as a ratio to its total assets, it is likely to much less than most private investors. As such they should (at least) have to upgrade their properties within the same timeframe as individual invests - not twice as long. This is plain hypocrisy.

Capital Gains Tax

Sir Michael Cullin's tax working group has seemed to have forgotten that when an individual buyers a rental property, they do so using tax-paid money. The same is true for shares, and other investment. This "envy" Capital Gains Tax will mean that Government is double-dipping. It will discourage Kiwi families striving to get ahead. It is counter productive, and just another tax grab.

Global research shows that a Capital Gains Tax will not resolve the housing crisis. And the fact is that low income New Zealanders pay no tax anyway. This proposal is socialism at its worst.

Kiwisaver & other sharemarket investments

New Zealanders are very poor at saving money, and the biggest value in Kiwisaver is that it has got most NZers saving for their retirement. Now, along comes Capital Gains and there is even more dis-incentive. Shame on you, Jacinda (or should I say Taxcinda). This tax grab is ethically criminal. Shame on you. Shame.

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