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Originally Posted by Golden Teapot
So, you're for it so long as you're pretty much exempt? For such a tax to work it must apply to all houses.
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Correct - we didn't buy our house for capital gain, we bought it to live in.
When we sell it at the current market price we will have to buy another house at the current market price.
"Investors" that are buying residential properties to make a profit should be taxed accordingly to discourage such activities in accordance with our "Kiwi ideals".
If it doesn't have much effect - fine, at least we gain some tax dollars and can perhaps stop selling off our assets etc. It has to be better than not having a CGT.