Even more questions for David Cunliffe on his Capital Gains Tax, from Jamie Whyte:
Exempting the family home from Capital Gains taxes is harder than it sounds. What if you charge one of the children board? What if it is one of the children’s friends? A boarder? Many South Auckland families share a house. When does it stop being a family house? If you take a job overseas or elsewhere and rent the home for a while, is it still a family home? What about the Granny flat? What if it is not granny?
Labour’s proposal is not fair. The million dollar Dotcom mansions will be capital tax free and the Otara ex-state house will be taxed because the owner needed extra income to pay the mortgage.
Davids Cunliffe and Parker have not thought through their stupid tax.