The Not So Bright-Line Test
Lowering of Capital Gains Test Will Raise House Prices
As from today, July 1st , the bright-line test reduces to two years, from the current 10 years, or five for new builds.
The bright-line test sets a limit on how long properties, apart from someone's main home, have to be held to avoid tax on capital gains when they are sold.
The lowering of this Capital Gains tax rule is great news for property speculators but terrible news for renters and anyone simply wanting a place to call home, because this decision will push up house prices.
It is a policy designed to help the rich get richer and the poor to be kept in their rented or emergency shelter place.
Whilst I'm no analyst, it has occurred to me that all the other stuff such as cancer drugs, ferries, you name it, are just annoying peripheral ho-hums to this government. They are there, 'governing' pretty much entirely to increase the wealth and make life easier for their rich mates. I'm starting to really believe that. I'm worried.
I listened to Martin Sheen today explaining that politics today is not about 'right or left', rather 'right from wrong'. A concept that seems absent from much of what our government is proposing and enacting. Each and every one of us needs to decide if the vision for New Zealand in the hands of Luxon & Willis, Seymour & Van Velden, and Peters & Jones is one that is 'right or wrong' it's a no Brainer for me Bryan!