Will A Capital Gains Tax Heat Up The Market?

The rantings of the left wingers about a capital gains tax is one of the major drivers of the over heating market.
Investors are climbing in now because of the threat which may become a reality in a couple of years if and when the lefties get into power .
Such a tax is unlikely to be retrospective so now’s the time to buy.
One thing is for sure.
A CGT will increase prices even further as many will refuse to sell rather than pay.
If you don’t sell you don’t pay tax- it’s that simple.
No one has ever explained how a CGT will control prices.
It has never worked in other countries and it will never work here especially if family homes are exempt.
Home owners make up the biggest market and are the biggest speculators of all .

Comment by “BigDaddy”

link:

http://www.interest.co.nz/property/62711/salvation-army-says-govt-should-make-housing-affordability-top-priority-housing-nz-re

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