GUEST BLOG: Bryan Bruce – The Not So Bright-Line Test
As of Yesterday, July 1st , the bright-line test reduces to two years, from the current 10 years, or five for new builds.
The bright-line test sets a limit on how long properties, apart from someone’s main home, have to be held to avoid tax on capital gains when they are sold.
The lowering of this Capital Gains tax rule is great news for property speculators but terrible news for renters and anyone simply wanting a place to call home, because this decision will push up house prices.
It is a policy designed to help the rich get richer and the poor to be kept in their rented place.
Bryan Bruce is one of New Zealand’s most important and respected documentary makers. His work is available on bryanbruce.substack.com
Yes, all seemore could talk about (on Breakfasts interview) was how landlords could provide more rentals nothing about people being able to buy a home, no hope. Everything is skewed towards the rich getting richer and the poor, many being working class poor are being hit with a big fat tory stick. The CoC policies are exacerbating poverty with their trickle-down bullshit that does not work. And many of the greedy selfish rich are waiting to pounce on our assets that Luther lux-on will sell.
Yes, all seemore could talk about (on Breakfasts interview) was how landlords could provide more rentals nothing about people being able to buy a home, no hope. Everything is skewed towards the rich getting richer and the poor, many being working class poor are being hit with a big fat tory stick. The CoC policies are exacerbating poverty with their trickle-down bullshit that does not work. And many of the greedy selfish rich are waiting to pounce on our assets that Luther lux-on will sell.
The only thing this government are increasing – polarisation and class war