Forum Archive Index - February 2002

["Richard Hooper" <hoop@ihug.co.nz>]

Snoopy
Zeeland not Zealand.  Been there.. Shit of a climate,but the people are
wonderful . Is Cullen kite flying or is he spreading this rumour so he can
soften the public ahead of a some form of capital tax if this proposal
fails? Is this a pathway to impliment this after the next elections by both
political parties?
Hoop

----- Original Message -----
From: <tennyson@caverock.net.nz>
To: <sharechat@sharechat.co.nz>
Sent: Saturday, February 23, 2002 12:14 PM
Subject: Re: Re: [sharechat] Cullen to Introduce Wealth Tax - Confirmed


> Hi DR,
>
> >
> >
> >in reply to the original post.
> >1. For equality any tax on wealth -usually capital gains in other
> >countries is only levied on sale of the asset. To maintain equality,
> >that has to be true in NZ as well.
> >
> >
>
> I am sorry to inform you that the proposal is to tax assets (in
> particular listed shares and bonds) as they are held *not* when they
> are sold.  As such I believe that all of my criticisims of such a
> scheme remain valid.
>
> The most unpopular aspect of this tax (the idea of taxing own your
> own homes) has been discarded.  However, it is very clear that Cullen
> proposes to tax shares based on their market value on some arbitrary
> balance date.   I believe the Netherlands already has such a system
> in place.  So it has been done in Zealand.  And it will now be done
> in New Zealand too. SNOOPY
>
>
>
>
> ---------------------------------
> Message sent by Snoopy
> e-mail  tennyson@caverock.net.nz
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>
>
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