July 6th, 2011
Kiwis love real estate. If you need any reassurance of that, just look at the amount of media that has surrounded the allegedly proposed “Capital Gains Tax” on rental / investment properties by one of NZ’s political parties over the last few days.
Sure its law in Australia….but as was stated by a talk-back caller to Radio Live this morning, the caller questioned the relevance by trying to draw parallels with Mark Ellis’s Charlies which has been sold for $124m to overseas interests, the caller asking why a capital gains tax wasn’t applicable in that transaction?
Obviously Housing Affordability is uppermost in the minds of any Kiwi when they think of their next move.
Back on 26th March 2011 the terms of reference were posted on the web for the NZ Productivity Commissions Inquiry into NZ Housing Affordability.
The good news.
Each and every Kiwi is invited to visit the site, to click the orange DOWNLOAD button to read (very recommended reading chock full of stats) the 64 page booklet, and then to download submission forms to actively participate themselves. You can register your email address at the site to be kept up to date too.
The above site….here, is advertised as going live on Friday 8th July 2011.
In due course, it will be very interesting to see/read their findings and/or recommendations.
Related info – Housing Affordability data at Statistics NZ