So Julie Christie, one of the major forces for ending Campbell Live, manages to get some sweet heart deal on a property purchased for The Block and then on sells it for a $1.5million?
Tax slug hovers over Julie Christie’s Block windfall
Reality TV queen Julie Christie has agreed to sell for nearly $1.5 million a house she built on land originally acquired for The Block NZ.The sale, yet to be settled, raises questions about whether the MediaWorks director will be liable for a hefty bill for capital gains tax.
Ms Christie bought the vacant Belmont section – used for the 2013 series of the home renovation show – for $380,000 in December of that year.
She has since built a 175sq m, four-bedroom house on it, and agreed in August to sell up for $1.458 million.
It really says something about the obscenity of the current property bubble National have stoked to create the pretence of economic growth when a TV executive of a renovation porn show can make a cool million from some spare left over property.
Crony speculative capitalism for pure greed from people with a vested political interest in killing off critical journalism. This is art imitating life.
“Greed is not just good, its fucking fantastic” will probably be hers and sundry other Nat epitaphs.
Does she not realise while Nick Smith is running around in a lather pretending that National care about housing, that humans in Auckland can afford rather than cars to live in, little Nat go-to-girls like her are making a complete mockery out of him? It’s farcical!
We can now see why her “expertise” was so indispensable on the flag bullshit committee. Well…, actually I can’t!
Taking advantage of those already deliberately disadvantaged warrents a fucking riot ! It’s an evil abstraction of reality.
There’s a part of the article that’s been (conveniently) overlooked:
“Ms Christie said the sale had yet to settle, and she would pay any tax she was liable for.
“There’s no finalised sale, but if there are capital gains to pay I will pay them.””
That’s alright then. She buys it off her own company at (possibly) a discount price, makes a million and agrees to pay any tax due. I wonder if she’ll state that she bought the property with a view to make capital gains. I suspect probably not, then the taxman will of course accept the word of such an upstanding Tory. Yeah, perfectly ok. Thanks for updating us.
No, she’s bloody angry someone found out !!!
While I completely agree with you on most things, a section that cost approx $400,000 which then has a house built on it does not return a $1m profit if sold for $1.5m. There is the cost of the house – if we are going to argue, let’s get our facts straight
She probably made about $650,000.
You can see why the TV3 execs and the National government are such good buddies, they think the same way – speculate! speculate! speculate! (Would be a good name for a new housing TV show, much more appropriate in New Zealand than “location, location, location”)
Julie Christie is a symbol of corruption & greed that destroyed the Roman Empire 1600 yrs.’ ago in the third century.
We are repeating the same mistakes again now.
Just like in Rome, corruption in all of these western Governments is endemic and expecting reform is rather like expecting a judge to order his own execution for obstruction of justice.
So what we can expect is a gradual and inexorable decline and fall; the only real matter for discussion is how long will it take this time around?
Finally, after we carry on speculating and hedge fund investing like in Rome only the genuinely rich and those employed by the government, such as soldiers and bureaucrats had any real spending power – the vast mass of the population became increasingly hard pressed and the fabric of the empire began to break apart.
Does that ring any bells?
Of course, in this current climate of political indifference and incompetence it is the ordinary taxpaying citizens of Europe, Japan America and us that are paying for big government, a corrupt and insulated financial sector and especially the imperial overreach of the (supposedly) ex-imperial powers within NATO.
Just as Rome did not collapse overnight, the American/Japanese/European/Aust/NZ axis is not collapsing overnight. However, what is clear is that history is repeating itself – the Western economies are doomed to fail if they are not radically reformed.
Sharing of the wealth or “Egalitarianism” such as Greece founded is the only way back.
John Key’s epitaph
“Corruption in the Roman Empire points to its naked source – human greed and … Greed is the immoral, insatiable lust for self-enrichment, and the sacrifice of … the magistrate … said that thefts were not committed out of normal need, but for … Together they can lead to genocide, extremes of treachery,”
https://books.google.co.nz/books?id=fdyLXNIrvWwC&pg=PA33&lpg=PA33&dq=greed+%26+theft+cause+fall+of+rome&source=bl&ots=SKayeY3Nno&sig=J408tvsWDzYVGToxQ34eagLIARs&hl=en&sa=X&ved=0CEgQ6AEwCWoVChMIu_Hxq6e7yAIVITimCh3vlApC#v=onepage&q=greed%20%26%20theft%20cause%20fall%20of%20rome&f=false
Brilliant analysis CLEANGREEN.
We live in vile, decadent times at present, similar to that of the Roman Empire all those years ago. And like that civilization, the western system of greed and corruption will indeed fall and fall hard it will.
Hope I live to see that day, if only to see the FJKs, Julie Christies and their like, burn and crash!
Yep, it’s all about bread and circuses.
The Romans gave their poor and dispossessed circuses to take their minds of their hunger (the bread).
In Jonkey’s New Zild, we give them the rugby, Lotto et al (circuses) while taking away their work, their homes and their hope (the bread)!
History always, but always repeats itself.
Trouble is, we don’t ever seem to learn from it.
Do they even teach it any more in the universities?
Our current politicians were either not taught history, denied it, or like the current lot, try to create a new one.
Oh how the worm turns….
If she was liable to pay capital gains tax, then she would be able to claim against it any improvements to the property. Presumably she would be able to claim back the full cost of the house build which would lower her tax bill considerably.
I would want a fuller investigation into where the money came from to buy the property in the first place. Something doesn’t smell right about this situation.
No wonder Key had to be dragged kicking and screaming to enact the very limited CGT on property speculation. With mates liked Christie, the Nats knew where their next election campaign donations were coming from.
She will be liable for income tax at the maximum rate under the previous rules. Under the bright-line interpretation she still be liable at 33% tax rate.
We need more economic/tax literate commentators here. Too many going around half-cocked.
Just get the bottom of the message. It is an economic crime to make too much money.
To add, economic crime is dependent on the side of politics you are from.
If you are Stephen Tindall you seem to get a pass. Even if you are one of the richest in NZ.
But make a few hundred thousand dollars and from the neoliberal side , look out.
Now Helen Clark had betrayed the cause….now Helen, we know about your investment properties. You evil landlord you…exploiting the working class…watch your back.
Dear old Stephen Joyce…. and his mates…. the guy who really didn’t do too well in the Northland campaign…
Well…you know how it goes…
Exit stage left from public’s view but throw some enormous party’s from all the stolen booty from the riches of the neo liberal heist and you can drink away your sorrows , cant you….
And then leisurely wake up next morning and phone a few of your mates to celebrate getting rid of John Campbell…
And throw yet another party in celebration and repeat the same process…rinse and repeat ,…. rinse and repeat ….
Yes Martyn, the house just “magically” appeared on the land without costing a single cent. Hang on a minute, I live in the area and I saw it being built by tradesmen who would need to be paid using materials that needed to be supplied. Your lack of knowledge on property is staggering.
I cannot quite figure out your bitterness. Is it because you don’t own property yourself? Or is it frustration that your life choices resulted in you not buying property that has appreciated in value? You won’t get a lot of sympathy from people like me who paid 20% interest rate on their mortgages in the 1980s and make the sacrifices to make their payments. Those people earnt their increase in value though making wise choices & sacrifice.
So what was she doing buying vacant section for the block? Don’t they renovate existing buildings? Or have I got that wrong?
Wonder how much Ms Christie will be donating to National’s election campaign in 2017?
Any guesses, anyone?
Comments are closed.