Jesus wept!
Election 2023: Hundreds of landlords to become tax-cut millionaires under National’s plan – analysis
New analysis released exclusively to Newshub shows a group of 300 landlords are set to become tax-cut millionaires under National’s tax plan.
A Council of Trade Unions (CTU) analysis has found beneficiaries will be $17,000 worse off after five years of that change.
“It’s a reduction in income that the disabled community can’t afford,” said Bollinger.
It is expected to save National $2 billion over the next five years.
Coincidentally, that’s the same amount the party budgeted for a tax cut for landlords by reintroducing interest deductibility rules.
Firstly – where the hell has this CTU been?
Since the loss of Helen Kelly, the CTU have drifted and lacked any real leadership!
Pushing past the woke middle class virtue signals that the Wellington Union movement have deteriorated into, Craig Renney has been a unique voice of true class left economic arguments rather than alienating identity politics.
His constant focus on challenging the Right on the economics has been the most powerful critic of the Right to date from the Left.
Secondly, I told you National are the Party of Landlords!
346 mega landlords, own more than 200 HOUSES EACH, will get $1.5 million EACH from tax changes over next 5 years, same amount that will be TAKEN OFF beneficiaries over the next 4 years!?!?!
Why the Christ are we taking from the most vulnerable and giving it to the richest?
I told you the Real Estate Pimps were buying this election!
Analysis: Property industry tops political donations
An RNZ analysis of political donations since 2021 shows people involved in the property industry are giving the most – and almost all of it is going to National, ACT and NZ First.
Since 2021, people aligned with the property industry have donated more than $2.5 million to political parties.
More than half of the cash from the property industry went to the National Party (53 percent), followed by ACT (32 percent) and New Zealand First (12 percent). Labour received 2 percent.
…Real Estate Pimps have donated millions to National and in return National have lifted the Foreign Buyers Ban and will give landlords the right to kick tenants out with no notice.
National and ACT will also role back Tenants rights while reopening Landlord tax loop holes.
By opening NZ up to foreign speculators while reopening landlord tax loops holes, National and ACT are opening NZ up for sale to their overseas wealthy mates.
Let’s remind ourselves just how vested the Landlord class is..
…there is an unspoken promise between the neoliberal State and the untaxed capital gains private landlord class that the neoliberal State never builds enough State Houses to alleviate housing desperation so that the untaxed capital gains private landlord class can exploit that housing desperation ON TOP OF getting a $1.5Billion annual subsidy in the form of the Accommodation Allowance EVERY SINGLE YEAR!
Landlords are about to win the biggest class war victory in NZ History and it’s going to happen because the electorate are still furious at Labour and Jacinda for saving us from 20 000 deaths!
New Zealand’s Covid-19 response saved 20,000 lives – research
Renters are about to be thrown to the wolves and horrifically the culture war ammunition middle class activists handed to ACT and the Far Right is eclipsing this reality from the vast majority of renters who are not voting or spite voting ACT, NZFirst or National.
Taking from the most vulnerable to give to rich prick landlords, millions upon millions upon millions in tax cuts, is political vandalism of the egalitarian state and voters are happy for that because they hate Jacinda, Labour and the Covid lockdown.
Renters are being destroyed in a class war the middle class activists have no vocabulary for because it’s all hashtag identity politics virtue signals rather than challenging the economics hegemony.
The true demarcation of power in a liberal progressive democracy is not skin colour, or identity, or gender or orientation, it is the 1% richest + their 9% enablers vs the 90% rest of us.
Once the Left remember that, then the Left can start winning again.
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The right-wingers don’t give a fuck if the NATS & ACT make things worse under the guise of equality, they’ll commit suicide with their children to stop Maori initiative, even though they’ll suffer under this regime if elected.
Does anyone really need 300 houses. Owners of more than a few, say 5 houses tops, should pay a wealth tax. It’s commonsense. Not give them tax deductibilty, which is the opposite of commonsense. Personally I’d make it the law, that you are not even allowed to own more than 5 houses. And how many of these mega landlords are foreign based. And National want even more houses sold to foreigners. The profits from anything sold offshore goes back offshore. Which will just suck more money out of the country, along with the money being sucked out in the big bank profits + supermarkets + funeral directors profits. If Labour get back in, I hope they start listening to the Greens ideas on wealth tax.
nzs version of the brexit gammons…cut your nose off to spite your face
So 346 landlords own close to 70,000 dwellings. Is that a mix of houses and apartments? Either way it doesn’t matter.
It just reinforces what a bunch arseholes National have become. Let’s give those with everything a bit more.
How anyone in Auckland can vote for these wankers is beyond me. Remove the petrol excise and put it on rate payers. Taxing petrol to pay for roads makes more sense than walloping rate payers. We don’t all own multiple properties, and those that do will just put rents up to cover rates.
And Willis has now admitted that giving these landlords interest deductibility back won’t reduce rents! But I thought that rents we up because of it? They are so full of shit it’s unbelievable.
Face it, they put rents because they can. Full stop
Yes..all true…
The good news is that they are going to loose the election…
The latest Guardian poll is out …..Labour 30.5…up 3.4 up
Greens 10.8 …same
National 34 down
ACT……7.9 down
N.Z First..8.4 up
The trend movement is all down for National and ACT
Totally agree, for some reason it is considered acceptable by the right to use government to benefit the property-owning class but using the government to control any improper behavior by (almost) monopoly interests is considered bad. Socialise the cost while privatising the profit as seen by various forms of environmental pollution & the mycoplasma bovis example will be the default mode as the 10% boast of their ‘superior’ economic skill while ignoring the chaos they cause.
Because they can and the bank rake off their gross share of the rack rent.
NZ Parasites Paradise1
Are you suggesting that Nicola Willis’s interest deductibility or landlords won’t trickle down to renters?
Who’d thought.
Lol, So 6 years of Labour haven’t solved this “housing crisis” eh?
Nothing has changed, even more are homeless, living in garages, vehicles and motels…but meanwhile all those new 3rd world refugee parasites are given a house by HNZ. I know because ive worked in them!
Its engineered to be just that and why it is a global problem. Governments in countries like NZ can build houses and blow the private landlords out of the water. But it won’t…
The solution is to allow the building of many, many more houses so renters have choices. Rents would reduce.
But most on this blog just want more state houses built, with the PMC then deciding who gets the state’s favour.
You are right Ada it’s a numbers game. If the market is tight landlords may try to charge more rent to cover increases in mortgage rates and critical maintenance. They shouldn’t do that but With the shortage of housing they will try that on. With the deductibility of interest there is less pressure on them to do this. IMO what National are doing is trying to take the pressure off landlords with mortgages and critical maintenance so they are less likely to up their rents. Labour hate landlords like they hate farmers and so would never look at the big picture like National. Labour will happily poke a stick at National and the landlords but haven’t done enough to build state house stocks. IMO. I am not a landlord.
sypathy and excuses for the rapacious leeches is hardly a ‘new view’
Your stupid name calling contributes nothing. Identity politics as usual.
National sell the state houses Ada we were 1500 less state houses when National left office this is but one area, they have a bad track record another is superannuation they tutu to much nek minute by crikey wheres my super gone.
Many of the houses sold were State houses in areas that had become wealthy and the home could be sold and 2 could be built in less upmarket areas. Unfortunately the new homes were not built as quickly as they should have been.
Ada good to see one person with common sense on this thread . Many seem to contradict themselves by saying we need more rentals but hate landlords .Go figure. Large scale .landlords are a better proposition than the small MA and PA owners as often they do not have the money to do repairs and they need a bigger return on investment so need higher rents .
In the present market where there is little increase in property value being a landlord is not very profitable with only a 3 percent retur on investment if they are getting an average rent .Tax claims and being able to boot out bad tenants will bring many back into the market and reverse the trend to turning to air b&b .This will keep rents down after 6 years of increases
The presence of private landlords does not increase housing supply – it increases demand (and therefore prices) for existing stock.
The presence of large property development corporations that developed land, built houses and then rented them out, might increase supply. But they need a market that is going to be profitable, which means that they will never cater for the poorest people and the state will always have to do at least that and possibly a lot more if there is any sign of market failure. There s also a danger that such large operators may also tend to inflate house prices through competition over land and therefore price first home buyers out of the market, thus effectively forcing them into one of the large corporation’s own rentals. (That could make sense as a deliberate business strategy). On the other hand, it may be possible to more effectively tax such large operators on their capital gain, and also to enforce more tenant-friendly rules on them – such as the all-important security of tenure seen in parts of Europe.
In the end, the sanest approach is to engineer a gradual and cautious end to all private landlordism in residential property. It’s the state’s job to do it, just like a healthcare system, public sanitation or water.
Who is stopping more houses being built. Idiotic comments like these add nothing to the thread. The hypocrisy of making investors wealthier at the expense of renters is simply absurd. Most here are correct in their summation, you are clearly not.
So if you buy a business of any type are you not allowed to make a profit.What is the difference between any businesses that involve someone’s money being invested. The state is not doing a great job ofbbuilding new homes is it
So you want to build a business on the back of Government( my) money Trevor?
Can you not see the problem there?
And when was its the states job to build homes other than state homes which it is successfully doing.
Have you ever talked to people trying tk build a house?
Or KO’s problems building state houses?
“rents will reduce”
Never have and never will.
Class politics alienates people as much as anything. Try mentioning class in a room full of whomever and watch people drift away from you…
National are so terrible that they shouldn’t even be in the running.
How can we explain this?
Pat – what’s a shock to me is the shock and surprise that other people are expressing as they suddenly realise how terrible National are? How did they not know this already, why wasn’t it baked into their bones as soon as they became vaguely sentient?
Yes AB and it’s laughable that people on this thread are promoting National as the answer to our housing woes when ironically National were the ones who created it. Now we hear people on this thread saying giving landlords more money is the answer. But I do note these people promoting neoliberalism.
Good points AB and Pat…
And MHK
It’s because Labour is so disappointing!
Luxon is an empty blue suit.
Ada. Luxon’s no empty suit chip chop changing like a contrary toddler, he’s had an agenda all along, but the Nat policy makers have been trying to appear middle-of-the-road in the run up to the election, as a “ safe” option. He was John Key’s choice, and that alone makes him dodgy, IMO.
National are so terrible that they shouldn’t even be in the running.
How can we explain this?
I wonder how many of these mega landlords are social housing providers and councils?
The answer should be none, those are owned by organisations – not individuals.
I reads the original article. It certainly did not say that the 324 were all private individuals. It is highly unlikely they all (or even most) would be. Two hundred rentals, even in a low value area like Invercargill would be worth at least $60 million. In Auckland up to $200 million. Not easy to be invisible with that level of holdings.
Those kinds of numbers are typically owned by organisations. Obviously many of them are for profit corporates. However, there are numerous charitable organisations including iwi owning substantial number of social housing. Similarly there are numerous Councils that have substantial holdings, mostly housing for the elderly. They are all landlords.
Martyn I’m so sick of this shit from the National Party, if these pricks get elected we need a Regime change operation & Coup d’état to remove these bastards from power? What’s becoming crystal clear is that this is not a Right/Left Political Election, it’s a Neoliberal Class War, those who are Rich & those who are Poor, those who are Landlords & those who are Tenants, those who use Property Speculation & Tax privileges as a Wealth generator to derive their untaxed income from this non productive exercise that creates no genuine growth & those who have to go to work for 40 hrs a week to generate a fully taxed income? Its also a Race War pitting Maori against white privilege & I tell you Martyn if this War against the poor & disadvantaged continues, what’s to stop Renters who get booted out of these Rental properties from just grabbing a can of gas & just torching these properties on the way out the door, you only have to look at what’s going on in Palestine & Gaza, there comes a point where poor people become so sick of being mistreated & fucked over by those in Power & the Rich elites that they come to the realisation, nothing will change & that they have nothing to lose, so they will attack & strike out against their Rich Oppressors who are enabled by a Right wing National Party Govt that instead of acting in the best interests of the majority of all NZers, they couldn’t care less about poor people that Luxon regards as bottom feeders & he only cares about & caters to a Rich minority! It’s pathetic!
The way I’m looking at ‘this’…this ‘thing,’ is this.
Let [it] be a learning curve of such curvatures as to defy all the known physics of curves.
The National Party has always been the party of aggressive, domineering, psychopaths. They’re the Big Whack Daddies looming over whimpering us from the head of the dining table and the more subservient we are the more aggressive they’ll become. They’d be called bullies once, today we’d call then psychiatrically unwell.
The national party are a coagulation of bullies and thugs who’s only truths lie in their greed and power cavings.
They rest of what they are and what they claim they are is the lies they tell that they believe are truths.
This is a fascinating review of a film depicting Jimmy Savile.
https://www.theguardian.com/tv-and-radio/2023/oct/09/the-reckoning-review-steve-coogan-is-chillingly-brilliant-as-jimmy-savile-bbc
This is what we must remember. We, the people of AO/NZ are the Boss. Not national, not neo-liberalism but us. The National Party are a politic that we would pay to act in OUR best interests. Not the rich and their the egos. Not some deep state dark soul lurking in a mansion fingering kids while making money. ( Example: Ron brierly. )
The National Party, since 1936, has been swindling, lying, cheating, stealing, disempowering, exploiting and bullying our farmers, specifically, but the greater AO/NZ population too and if you’ve just read the link to jimmy Savile this sentence will appear to be familiar.
Willis said rents won’t go down, but their policy will slow the increases how nice of her.
The housing market is cooked, that includes the rental market – Labour finished it off.
You can give people all the false hope in the world – nothing will change.. ..move on.
National sell the state houses Ada we were 1500 less state houses when National left office this is but one area, they have a bad track record another is superannuation they tutu to much nek minute by crikey wheres my super gone.
National sell the state houses Ada we were 1500 less state houses when National left office this is but one area, they have a bad track record another is superannuation they tutu to much nek minute by crikey wheres my super gone.
Wow, 346 landlords owning more than 200 houses each.
If they visited a house each day, it would take them more the 6 months to get around them.
If each rented for ~$500pw, that’s about $100,000pw income for each landlord.
How can anyone expect to get by on just $100k per week, with high global petrol prices?
But at least National have got their back.
National will give these hard up topfeeders, corporate welfare in the form of investment property deductibility, of about $1.5 miilion over 5 years, because who wouldn’t want $1.5 million?
They need the extra $1.5 million, because they are only scrapping by making $100,000pw.
And not so good samaritan Luxon, the false prophet who only sees profit, will bring in more welfare sanctions and index welfare to inflation instead of wages, causing child poverty to increase again, after reducing under Labour.
Those children in poverty, have higher rates of all cause mortality.
So given Luxon’s past actions, that helped kill children in Yemen, he now wants to carry on killing more children here.
I hate Labour after they threw renters and the poor under the bus to enrich the property class but they have slowly started to see the light now the witch is gone. A vote for NACT is a vote for parasites. Has to be Labour or greens. Get rid of Hipkins and get a CGT ASAP. Stop the parasites buying their way to richness.
at the end of the day – everyone wants a fair amount of status quo and a fair amount of progression. so the big question is – what is fair?
It’s still all labour’s fault! Labour did it! They did fuck all in 6 years with 3 of those years as a majority government!
Well, there will be more mega landlord housing providers if National get in because they hate renting to the poor, disabled, elderly, Māori, PI, solo mums/dads and our poor Pakeha whanau. National knocked down many state houses reducing the stock and claiming they weren’t the right stock saying we need more one bedroom and two-bedroom etc when really that was just a bullshit excuse. They (National) just wanted to reduce state housing, so they are not responsible for housing the poor. I lived in a poor area in a state flat I saw firsthand what National did. As for Ada and her mate Trevor they both don’t know what they are talking about as usual.
Well labour did try to bribe them with the $100b bazooka but they took the profit and donated heaps to the Nats and Act and NZF instead!
The only one it seems is that Mark Todd of Ockham developments who coughed up $50k.
How useless is Labour.
Not as useless as you and that really is saying something.
How shallow clown, this back to Kiwi, been gone coming back to rescue N,Z,, ok! clown your properties are high wealth extorbirant rent, are you going to as a landlord under your so called fair deal, going to reduce the rent on your high market properties. As THE TAX EVALUATION, that we understand as noddy land, not for the people, but for your mates who you, are one of, will you reduce your high market rental properties, again you refuse to answer, why should your indifrence toss away, im not talking about that, only wanting to talk about their leaders negative approach to this election. hAVE YOU AND YOUR TEAM OF NOT CARING ANSWERS, BEeN DOIN THAT FOR THE PAST THREE YEARS IN THE hOUSE. Eh! you do not have a political clue, what is coming at you.
Winning, we are, how egit you, now back bench, you gettin gone.
October, things happen.
Why the Christ are we taking from the most vulnerable and giving it to the richest?
Because National (and their friends ACT & NZF supporters) don’t give a shit about people – only the bottom line and their own situation … this government will push NZ back to the dark ages – well maybe not that long – but back to the 90’s (doesn’t Wicked Willy look like Ruthenasia?) and the “Mother of all budgets”
Good luck – you get what you vote for – look at the previous lot!