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Labour raises doubt about National's tax plan (www.newshub.co.nz)

submitted 1 year ago by [email protected] to c/[email protected]

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National needs about $5 Billion in foreign property sales a year to reach its target. Prior to the 2018 ban, China (which likely can't be taxed anyway due to FTA) made up 40% of an approximately $3.75 Billion in total sales. For Nationals numbers to work, the market would have to grown significantly, while leaving the vast majority of properties un-taxed. Further, they have not accounted for any drop in sales due to the tax, global downturn, or any other factors.

It's pure fiction and smoke and mirrors.

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[–] [email protected] 6 points 1 year ago

If they genuinely can't tax Chinese foreign buyers more than NZ residents, that's very embarrassing for National.