Reading the title - the Scandal that keeps on giving - that could well be Brownlee and the appointments to CERA review panel.
Why one would need to appoint the head of the board of the China Construction Bank to the Cera Review Panel - particulalrly when that head is working for the communist party (of China) in fincancing proposals for China to purchase parts of /interests in the NZ Dairy industry.
With all that is going on this week, how bad is the Herald? The front page of the Wed's paper sported a page 3 gurl.
From my experience during the 9 years of Labour the union movement and particularly the CTU nutured the working class.
You Sir have a tax addiction.
For those whom favour estate duty - then bring it back an estate Duty at 45% over the value of an estate of $450,000.
Then In the interest of being fair to everyone it should apply to everything the family home just as it applies to the family farm.
How many libertarians does it take to change a light bulb?
None. If the light bulb needs to be changed, the market will take care of it.
Read the answer fully - re conversion and other aspects.
How do you chose Rich Parents?
Estate Duty was forcing farming families off their land.
In the situation, at the time Estate Duty was zero rated, where say there was a farm valued at $600.00 owned by a widow with four children and ( two sons and two daughtes) and say you had one son inlaw and one son who were actively farming the land.
The effect of the $150,000 estate duty wold mean that the farm would be sold to pay the tax and the two farming families would effectively be forced off the land.
It was eating away at and compromising rural communities whilst also undermining the producitve base of the economy - you know agriculature.
The answer is again it won't - there are no outcomes there is no CGT.
With the proposal the likely only exemption is the Family home - so it will apply to assets in a trust or settling assets into a trust.
The proposal will likely be that when an assets is converted from one use to another use the CGT will apply - that iwill include settling an asets on a trust as well as a sale the CGT will apply.
The abolition of Gift duty sits alongside the "new looking through" regime.
It isn't some big "toothless hags, nest feathering, and have and have nots" conspiracy codswallop.
That is such a classic story - very old New Zealandy.
I hope you kept both letters and framed them.
You were asking about CGT when you asked:
"So, how is the abolition of Gift Tax going to affect all this come October 1st?."