Cunliffe and Parker repeat claims on property speculation

Both David Cunliffe and David Parker have repeated claims that capital gains on property speculation is not taxed. They are wrong again.

David Cunliffe in speech to Young Labour:

We have too many children who are getting sick because they live in cold, damp, cramped houses with black mould growing up the walls. Sometimes owned by speculators who just push the rent up while getting rich on tax-free capital gains.

David Parker on The Nation:

“You need to tax the speculators….capital gains tax”
“Loan to valuation ratios would not be needed if they were taxing speculators and building affordable homes.”
“National Party, despite the fact that we had 40 percent house inflation, they’re not doing anything about it. Not taxing speculators…”

Inland Revenue:

Dealers and speculators must pay income tax on any gain they make from reselling their property.

Cunliffe has made similar claims several times this month, including in Parliament. He has been corrected.

Parker has made similar claims over the past year, including multiple times in Parliament, He has been corrected multiple times.

It can’t be through ignorance.

It looks like deliberate attempts to mislead the public.

Details at Politicheck: Property speculators are taxed

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1 Comment

  1. David

     /  29th April 2014

    the thing that REALLY annoys me is that the media go along with this charade. I paid 56k this year on profits made on property last tax year which kept 5 kids in school, paid the DPB for 2 families, paid the dole for 5 people or however you want to slice and dice it.
    If those idiots in Labour want to put in a 15% CGT I welcome it as it will cut my tax bill to just under 25k.

    Reply

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