CGT来了

快乐123

https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12205791The key report recommendations

• Capital gains tax to apply after the sale of residential property, businesses, shares, all land and buildings except the family home, and intangibles such as intellectual property and goodwill.

• Tax rate to be set at the income-earner's top tax rate, likely to be 33 per cent for most.

• Calculation of gains not to be retrospective - tax to be applied to gains made after April 2021.

• Art, boats, cars, bikes, jewellery, personal household items and the family home to be exempt.

• Losses on the sale of assets bought before April 2021 will generally be able to be used to reduce paid on gains from other assets.

• Increase the threshold of the lowest tax rate (10.5 per cent), allowing more income to be taxed at the lower rate.

• Increase social welfare net benefits to allow similar benefits as low-income earners post tax threshold adjustments.

• House on farms and surrounding land up to 4500 sq metres exempt from CGT, calculated as a percentage of total farm value.

• CGT on small businesses can be deferred (roll over relief) if annual turnover is less than $5 million and sale proceeds are reinvested in similar asset class.

• No support to make company tax progressive, i.e. smaller companies paying less than 28 per cent.

• Capital gains tax estimated to raise $8.3 billion over five years.

• Expand coverage and rate of Waste Disposal Levy, expand the ETS and use congestion charging.

• Better tax benefits for KiwiSavers on low and middle incomes.

海边风

bungyjumping999 发表于 2019-2-21 12:06
Wait first, i am curious what Winston Peter would say and will he support it?

Most of his voters ar ...

no already. ..........................

V7

bungyjumping999 发表于 2019-2-22 14:27
CGT has different forms, some are just like brightline Test's 5 years, a lot of people has mistaken ...

这个是针对就算你投资房长期持有者，就算你持有30年，最后卖了就要缴纳个人所得。

快乐123

ThinkOutLoud 发表于 2019-2-22 15:17
有CGT 应该同时有capital loss tax rebate才合理

好主意，losses can be carried forward to offset future gains.

ThinkOutLoud

bungyjumping999 发表于 2019-2-22 14:27
CGT has different forms, some are just like brightline Test's 5 years, a lot of people has mistaken ...

有CGT 应该同时有capital loss tax rebate才合理

bungyjumping999

love_3_month 发表于 2019-2-22 12:16
今天看到一篇文章角度挺好的

1. 预计几年收几十亿 - 连巴菲特都不敢说几年的资产升值是多少，他们怎么就敢 ...

CGT has different forms, some are just like brightline Test's 5 years, a lot of people has mistaken it as a CGT.

This new CGT is the toughest in the world. Forever need to pay, even if you own it for 50 years.

love_3_month

今天看到一篇文章角度挺好的

1. 预计几年收几十亿 - 连巴菲特都不敢说几年的资产升值是多少，他们怎么就敢预测呢
2.原希望把资金从楼市挤出来，进入其他行业，促进生产率的提高（之类）的，但现在所有都收税啊，怎么进入其他行业呢。
The long-standing argument for a CGT is to rebalance investment away from unproductive residential property towards productive businesses and the capital markets.

https://www.nzherald.co.nz/busin ... p;objectid=12206085

我要买车

bluekiwisky 发表于 2019-2-22 10:55
这个也好。
让你买了房子不要随便卖，断绝了那种短期炒房的。

短期炒房投机的已经有五年明线的那个税了。
cgt完全是给投资的人设置的税，也就是说你赚钱它跟着收，赔了它不赔，只能抵。没跑赢通胀跟它没关系，一分不能少

bluekiwisky

这个也好。
让你买了房子不要随便卖，断绝了那种短期炒房的。

猩猩都叫兽

nasi_chilli 发表于 2019-2-21 13:47
就算weedstone pita现在否決了，2020后，工绿上台有50％（NZF不会夠5％）会立即推行。taxcinta下一屈会赢 ...

哥只想对你的英语拼写表示佩服。。。要是不在新西兰生活过些年还真不知道谁是 weedstone pita

bungyjumping999

NewLynnHse 发表于 2019-2-21 21:09
Poor old man, so many things on him now...haha!!!

NZ - China relationship is also his business as ...

NZ does not need CGT.

Brightline test 5 years is powerful enough.

Imagine if a farmer owned a farm for 40 years and need to sell it one day due to succession problem and bad health. For 40 years' gain, how much tax he has to pay?
Many farms are capital intensive investments, the gain is on Capital with sacrifices on cash flow. That is why no one dare to touch CGT.... as NZ is a farming Country.

I hope Labour coalitions will be roasted by voters this time.....

NewLynnHse

bungyjumping999 发表于 2019-2-21 20:06
He will be sent to China by his voters if he supports CGT.

He once said that his early ancestor w ...

Poor old man, so many things on him now...haha!!!

NZ - China relationship is also his business as foreign minister, then now CGT recommended when he said before a CGT will never work...haha

bungyjumping999

NewLynnHse 发表于 2019-2-21 21:04
Let's wait for Winston to say something about this CGT...haha

He will be sent to China by his voters if he supports CGT.

He once said that his early ancestor was chinese.

NewLynnHse

bungyjumping999 发表于 2019-2-21 20:01
For people who already owned the property, they will do a valuation on 1 April 2020 and any gain pa ...

Let's wait for Winston to say something about this CGT...haha

bungyjumping999

NewLynnHse 发表于 2019-2-21 20:57
this CGT is unfair if there's no corresponding CLD...haha!!!

For people who already owned the property, they will do a valuation on 1 April 2020 and any gain pay tax.

If any loss, they can offset for the next property they sell (if any gain) within a tax year. haha... unfair.Eg Property no.2 gain $100K - $30K losses from Property no.1 = $70K gain tax that need to pay (eg 33%).

It is only for people who already owned the property before 1 April 2020

NewLynnHse

bungyjumping999 发表于 2019-2-21 19:53
赠予 ------------> although there is no gift duty, They will tax on the gain based on Market Value. ...

this CGT is unfair if there's no corresponding CLD...haha!!!

bungyjumping999

V7 发表于 2019-2-21 20:18
对，全款的投资房该赠与的就赠予。

赠予 ------------> although there is no gift duty, They will tax on the gain based on Market Value.

This is covered in many countries that have a capital gain tax. Don't think IRD don't think of that !

Non- Market transaction (eg $1 or natural love and affections transfers)  requires a valuation at the time of disposal and based on that valuation to pay the requisite tax.

It will be laughable, the person who bought it $1 from you will have to pay $999,999.00 of the gain of CGT, if the property is sold for $1 Million next time....... haha.

V7

love_3_month 发表于 2019-2-21 17:36
之前买的早的，已经升值了几十万。。。

先再政策实行前把房子过户到LTC, 赚的钱免税

对，全款的投资房该赠与的就赠予。

快乐123

love_3_month 发表于 2019-2-21 19:04
这在那里看到的，还有什么例子吗

详细的介绍请看下面的报告:
https://taxworkinggroup.govt.nz/resources/future-tax-final-report-vol-ii-html

Lease

bungyjumping999 发表于 2019-2-21 18:34
you misunderstood my points.

The entity is set up in a tax haven country such as Singapore.

Bloody complicated, I need a tax specialist advice on such things.

love_3_month

快乐123 发表于 2019-2-21 18:07
Here are an example the TWG has provided of how CGT could work:

这在那里看到的，还有什么例子吗

bungyjumping999

Lease 发表于 2019-2-21 15:02
But if you look HK and STI index over the last decade, you can see their lousy performance.

Time  ...

you misunderstood my points.

The entity is set up in a tax haven country such as Singapore.
The investment machinery, however, is on USA Stock exchange.

In another word, it is offshore entity based in Singapore that is investing and trading in USA's stocks and other global stocks.

The offshore entity is paying Singapore tax for their trading activities and gain. Singapore has a competitive advantage over tax.


Put it simply, In NZ you are an individual ( haha... with no desire of investment due to CGT etc)
Outside NZ, you can be a discretionary beneficiary of an offshore trust entity run by an international bank ( eg Bank Trust Nominee Co. ). It all depends on the level of control you can arrange with the Corporate Trustee who will act on your instruction.

love_3_month

快乐123 发表于 2019-2-21 18:07
Here are an example the TWG has provided of how CGT could work:

这样还好啊

就是不追溯之前的盈利

qv又要忙了，到时候大批的人会对cv有意见哈哈

快乐123

love_3_month 发表于 2019-2-21 17:36
之前买的早的，已经升值了几十万。。。

先再政策实行前把房子过户到LTC, 赚的钱免税

Here are an example the TWG has provided of how CGT could work:


Mary owns a few rental properties. She bought one for $500,000 in 2017 and sells it for $800,000 in 2023.



Let’s say new tax rules come into force on 1 April 2021 and Mary decides to accept the next Council Valuation of $700,000 as the value of her house.



Mary won’t be taxed on $200,000 gain that occurred before 2021. It’s only the $100,000 gain after 1 April 2021 that matters.

love_3_month

之前买的早的，已经升值了几十万。。。

先再政策实行前把房子过户到LTC, 赚的钱免税

以后再卖，高出这次成交价的，就交税呗。

这个理解的对不对？

rzrljb

ychen276 发表于 2019-2-21 16:24
新西兰税务居民不是要为海外收入上税 么？

只要持续一段时间不呆在新西兰就不是税务居民了

Lease

bungyjumping999 发表于 2019-2-21 14:43
My only concern on USA's domestic account is the long arms of USA's law in terms of tax.

But if mo ...

But if you look HK and STI index over the last decade, you can see their lousy performance.

Time has changed. The future will be dominated by innovative tech firms. The most competitive tech companies are almost all US firms.

So if you just want your funds safe and pay little tax, probably Singapore is OK.

But if you want them to grow, US is still the best place.

bungyjumping999

Lease 发表于 2019-2-21 14:37
Hong Kong has been weakened, and will continue to weaken.

Singapore is not as bad as Hong Kong bu ...

My only concern on USA's domestic account is the long arms of USA's law in terms of tax.

But if money is USD but in other country's jurisdiction ( such as tax haven countries' foreign accounts), I think is fine.
Eg NZD and Aussie dollars can be placed in Singapore bank's Foreign account and subject to Singapore's law and tax (which is very little).
Also, the stock trading account can be opened in Singapore and subject to Singapore tax.

Singapore and HK do not have capital gain tax if you make any gains from the trading. As the world is digital and you can control those accounts wherever you are.

Lease

bungyjumping999 发表于 2019-2-21 12:59
Time to move your capital resources out and use NZ as an Education base for your children and retire ...

Hong Kong has been weakened, and will continue to weaken.

Singapore is not as bad as Hong Kong but it's no longer an Asian tiger.

I have exchanged large portion of my funds to USD and migrate them to America which I think it's still the most competitive economy though it also has CGT.