Tax tweaks for the housing market
Liam Dann ("The real house price problem is us", November 29) says the housing crisis cannot be fixed with taxation. I beg to differ. Here are three tax shifts
that would help people to own a home:
● Nil income tax on the first $40,000; that is, anyone on the minimum wage would not pay income tax. That would give a couple earning $40,000 or more each an additional $12,500 in the hand every year to save for a deposit.
● No deductibility of mortgage interest. This would create fairness in so far as a homeowner is not able to deduct interest on their mortgage.
● Tax investment property (not owner-occupied property) with an annual tax. Like rates but going to central government. It is important that this cannot be passed on to the tenant or lessee. An advantage of this is that it would shift much investment away from property to job-creating investments.
Brian Taylor, Lynfield
Vive la Aotearoa
Thanks Liam for voicing the truth about the housing issue!
Maybe we should consider the French system, where I believe you can only sell a house for the same price as you paid for it plus any proven improvements.
Auctioning is a system designed purely to drive prices up.
Graham Elliott, Mt Eden
Knock them for six
Regarding Kerre McIvor's column ("Pakistani cricketers acting like spoiled brats", November 29), OMG ... Best article ever! Saying exactly what everyone in NZ is thinking. Our soft government should send a strong message to those who flout our rules and send them home! No second, third or fourth chances. Let Kiwis, on waiting lists to get a spot in isolation hotels, have a chance.
Julie Fielding, Remuera
Couldn't agree more about the disgraceful behaviour exhibited by the Pakistani cricket players! We should have grown some and sent them packing. This would show the world exactly what our standards are, and that no one should be exempt from them!
John Avery, Epsom