Real estate shouldn't be considered part of the economy at all. It doesn't generate wealth of itself; it's just a mechanism for redistributing it. This is true; and "expenses", such as rates, insurance, repairs, etc., are not true expenses since they do ...
MP's are amongst the highest paid people in the country There would presumably be a fair chance a lot of their property ownership would be freehold, which would be a good thing.
Perhaps we should ban April the first since it seems to be a source of misinformation and fake news. April could instead start tomorrow, and we could the give the liberated day to February, a month which seems to be forever short of a day.
I suppose you would say that every war since, I guess, Marathon, constitutes murder; regardless of the causes at stake.
Does Europe have a future? The world economy is fracturing into two opposing systems that leaves Germans caught in the middle, with their government having decided to lock the nation into the unipolar U.S. system. The price of its choice to live in the ...
Poland, sharing a border with Russia, may be justified in feeling unsafe, though I doubt it. Anyway I can't see Russia wanting to go to war with any country west of the Black Sea; just the opposite.
I have always understood that in the fifties the top rate in the UK was 19s 6d in the pound; and Michael Moore tells us in one of his documentaries that the top rate in the USA was 90% during that period.
I think, though of course I could be wrong, that land is revalued every three years, and the valuations that the IRD would work with are made by an organization called Quotable Value, not by miscellaneous "valuers and accountants".
It was a silly question. Whether it is believed or not is not for Hipkins to say. It is really up to NoRightTurn, Bearded Git, or, indeed, the general public, to decide whether to believe him. It was essentially a "gotcha" question aimed at Hipkin's ...
That is a silly comment. A land value tax is a tax on the ownership of land. It is charged whether the land value rises or falls. It isn't a Capital Gains Tax at all. No gains are required before it becomes due. Quite so. It is a tax on land. It ...
A land value tax taxes capital gains on a regular basis, without having to wait for an asset to be sold before it can be levied. Most capital gain is probably on land anyway.
"You rejected changes to the tax system 8 months ago. Why should we believe you when you say changes are appropriate now?" Hipkins should reply: When you ask questions like that, why should I not consider you a moron?
Precisely. Financial services are not productive. That's why interest.which is a financial charge should not be deductible. The tenant pays all the landlord's tax, including his income tax. Were else is his tax to come from, but from the tenant, if the ...
Providing housing is certainly a service. Then why is it not subject to GST ?
Macron is only politicking. It makes no difference to France whichever side wins.
That was essentially what the Opportunities Party proposed when it was first launched. One could argue that the money saved from not paying rent could be treated as a sort of quasi income and taxed. Ideally the rental value of the property would be ...
As I have argued earlier in this thread I think residential rental income should not be taxable. This, I think, would be a better way of equalizing the taxation of homeowners and landlords.
So over this past year, both myself and my partner have mostly worked from home, as we have done so since 2020. If you work from from home expenses relating to your home, or a portion thereof, would be deductible. However this would would probably not ...
There is a case for rental accommodation inasmuch as some people, for various reasons, actually prefer to rent rather than own there own real estate. The problems arise when these numbers are added to by persons who would prefer to own but rent only ...
They are not being treated as a special case. They operate a business, and interest incurred in deriving assessable income is deductible. For any business. It is questionable whether interest should deductible in the case of any business. But if it should ...
Really – it sounds to me as though you just want to make the government and non-profit organizations the only provider of rental housing. Actually legislating for this – would be a more effective pathway than trying to tinker with tax law to achieve your ...
No. But if a landlord experiences a loss that loss would not be deductible against other income. This would not be the case if rent was not taxable. Of course they would be better off if they made a profit and paid no tax on it; but, who knows, maybe rents...
more enlightened economically than Western countries is what I said. But that's probably not saying much. The West probably lost the plot when they abandoned Keynesianism.
There are numerous examples. Singling out residential landlords was illogical. This is correct. However, this does not mean that interest should be deductible in the case of residential rentals; it just means that it probably should be non deductible in ...
If rental income was not taxable then no expenses would be deductible under current tax rules. Assuming a 33% tax rate such an arrangement would mean a 50% increase in net expense costs.
Actually all the interest should be non deductible. If someone wants to own a property, whether he wants to live in it himself, of whether he wants to rent it out, he should meet the full costs of acquisition, including the interest, himself, and not ...
(China & Russia spring to mind). Why those two particularly? They are two countries which seem more enlightened economically than Western countries, at least now that they have abandoned communism.
"Providing housing to others is an economic activity, even more so if it is a new build." Building a house is a productive economic activity. Renting out after it is built is not. I would not allow interest paid afterward to be deductible because I think ...
Do you regard income generated by shares and bank deposits as the same? Income from share dividends is generated by productive activity on the part of companies. The imputation credit system ensures that the shareholder pays his share, which he receives ...
So they should pay less tax on their rent income by being able to write off the mortgage interest cost of buying up an existing property. I have long been of the opinion that a rental agreement is merely a private arrangement between the occupant of a ...
'New' is not a test. A service is being provided, new or not. If a barbour provides you with a haircut he is providing a service since he is providing you with a new, and hopefully, improved appearance. A landlord is not providing any new accommodation, ...
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