We should help young couples buy their own home with funds raised by a capital gains tax or higher stamp duty.?
On average, everyone disagrees with nonconsensus between 149 voters.
Please read the comments from other voters below, then scroll down make your decision. Do you agree or disagree with the following statement?
We should help young couples buy their own home with funds raised by a capital gains tax or higher stamp duty.
Reasons To Disagree
Many of us had no help with getting a deposit together why now when wages and house prices are relative now as they were then? and why just couples? I am a single parent paying a mortgage on a house I paid for with my own money without any help. I think the taxes could be much more wisely spent on the low income or elderly not two young people with all the time in the world driving around in the latest cars, designer clothes and a well paid professional job, having holidays overseas etc etc. It doesn't hurt anyone to save for something they really want.
14 September 2005
I am impartial to this policy.
15 September 2005
Helping people buy houses while also taxing people for selling houses will just mess up housing prices.
20 September 2005
More taxes are just confusing and while housing is a basic human right it doesn't mean that you have to *own* the house. You can just rent it for a while!
20 April 2006
No need. If were want to help people buy homes we need to help them sav, and to do that we need to take less tax of those who are trying to save. More taxes will not help. A low Tax high saving economy needs less tax regulation not more. Its lready a nightmare to survive the tax games.
19 June 2006
If people really want to buy a home, they will reduce spending in other areas and save for it.
13 December 2006
Lower taxes would make it easier to save money to buy a house.
19 April 2007
Of course if you put in a capital gains tax on profits of selling a rental property then landlords will not make any money. Landlords will be less likely to buy a rental property pushing the price of houses down but the costs of renting way up!! Is this a good idea?
12 October 2007
We should help people buy houses by making them earn more. Hell, we could all live on superyachts for all i care!
13 December 2007
Yeah, right! The housing market has been screwed up by providing mortgages for bad risk - that's why prices went through the roof - that's why there's a collapse. People can only afford what they can pay for - they are not "entitled" to buy a house.
28 September 2008
No we are paying nearly 70% of our income in tax of one form or another we need it reduced not increased. It's hard enough for a couple buying a first home without getting a cap. gains tax slapped onto the future sale as well. Maybe a cap gains tax could be placed upon homes owned overseas, These homes are quite clearly a cap. gain since you can't live in two homes in two countries at once. One way of tracking these overseas ownerships could be to open an overseas home registration inside the the NZ land register. A prominent politician owning a multi million dollar home in Malibu would pay no tax when he sells it, even though it is quite clearly bought as a capital asset.
21 September 2009
we should help everyone to buy their own home by looking at what the banks charge for interest. Why does it need to be so high.
11 May 2011
Live within your means. Save for it
11 August 2011
Yes lets rob Peter to pay Paul. You are an evil evil person!
5 October 2012
Sounds good,, I live in the real world im not peter Dunn Aussies has capital gains tax..house prices went up over nite..... land lords in business put rents up and house prices up to cover things like no depreciation claims.. next it will have to go up to cover capital gains tax I would suggest put the tax s back to where they were 6 years ago... Muldoon summed it up like this well you only have so much money in a country and the taxes have to come from somewhere.
17 September 2013
Reasons To Agree
But the horse has long bolted on this one and the damage is now pretty much irreversible, those that have put power before longterm stability have committed acts social and economic treason on a massive scale that has now seen one of the pillars of equal opportunity eroded, the right, that if you work hard, to become a property owner in a property based system.
20 August 2006
Tax breaks for property investments that run at a loss should be discontinued. If you do not have enough capital to buy a property that can pay for itself why should the nz tax payer make up the diff.
28 October 2007
Reasons for Remain Neutral
As the first 'negative' person mentioned: why just couples? That aside, I think I might just paraphrase the conversation I had with my mum the other day: [HER] When we were your age we didn't get any help buying a house. In fact, you're lucky: we didn't even have a colour TV until you were 7. Look how cheap you can buy things these days! [ME] Oh, great! We're the generation that can afford to buy wide-screen TVs and iPods, but can't afford to buy a house. Every heard of Maslow's Hierarchy of Needs?.../end/.....So, because of the heavy speculation in housing, owning a home - which should be in the realm of possibility for ALL - is rapidly becoming but a dream for many people. A capital gains tax on non-primary properties (i.e. not your first house) is a good move towards restabilising the housing market. It helps to defeat using housing as in investment, which frankly helps no-one but those rich enough to own multiple properties. If the housing market is dominated by those people who own multiple properties, they require returns high enough to cover the large mortgages they've secured to purchase as many properties as they can, and it's the people who can't afford to buy - the renters - who have to foot the bill in higher rental costs. What an ideal system, eh? Those who can't afford to buy are privileged to pay for the upkeep of the houses they can't buy. Higher rents equal, suprise suprise, less income by which to purchase their own home. The person who said "If people really want to buy a home, they will reduce spending in other areas and save for it" would, I'm sure, agree that reducing rental costs - the largest component of many people's expenditure - would help them to buy their own home. What a crock of a system, eh? (By the way, in economic jargon this is what we call a 'market failure', and is a criterion for government intervention.)
Instead of subsidising rents the government should control rents to stop the incredible rise of the cost of housing. Some rents have become obscenely high and of course WINZ has to subsidise the rent for lower income people. This goes into the landlord's pockets and only drives up the price of housing. By putting an affordable limit on rent prices perhaps the cost of housing will ease, or at least stop rising. It will ease the burden on the tax payer at the other end.
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