David Cunliffe just can’t help himself, again telling mis-truths over capital gains tax.
A Labour led government would impose a capital gains tax of 15% on realised gains from investment property. He says the family home would be exempt, Labour leader David Cunliffe told TVNZâ€™s Q+A programme this morning.
“I’m comfortable with that because speculators are driving this market, and to make matters worse, according to the BNZ and Real Estate Institute about 12% of speculative house buyers, all house buyers last year in Auckland came from non-resident foreigners.Â Non-resident foreigners who have access to cheap finance are driving up the price of homes in New Zealand, so young Kiwis can’t get into their own homes.” Mr Cunliffe said.
When questioned onÂ why a capital gains tax isnâ€™t working in Australia, Mr Cunliffe said, “The problem would be worse if they didnâ€™t have it.”Â Read more »