@Baron-Silas-Greenback said in So we are about to get taxed up a storm!:
@Godder said in So we are about to get taxed up a storm!:
My basic, probably oversimplified theory, is that people go into business to make money by any legal means, and consequently any money made by people in business should be taxed in the same way. To me, that includes the any gain in value between purchase and sale of business assets, intentional or not, and most rental properties fall squarely into that category.
That's also why the family home should normally be exempt, because it normally isn't a business asset.
Not incorporating inflation makes sense as we don't currently incorporate inflation into GST, income tax brackets or any other tax, so would be consistent with that.
If I was selling it, that's how I would do it - taxing business income equally and in a consistent manner with other taxes.
@Godder
I just dont get this line of reasoning at all.
To support such reasoning means that you believe all money people get should be taxed and then only exceptions allowed. To me that is just a horrible thought. Govts are incompetent entities that spend money in terrible ways and throughout history the more power and control govts have, the worse off people are.
I should not have to justify why I shouldnt be forced under threat to give my money away, others should have to convince me. And the argument that we need a tax because we have other taxes is a crap reason. Which usually leads to the 'fairness' argument which again is complete horse shit. Fairness is completely in the eye of the beholder, so don't bloody steal my money and tell em that it is 'fair', you can argue that bringing n CGT makes things more consistant, but that is horse shit as well as
1/ There are exemptions
2/ Consistancy isnt always a good thing, Hitler committed genocide against the jews, committing more genocide against other groups to be consistent in his slaughter wouldnt have equated to anything good.
It's spelled “consistency”.
Oh, and everything else was wrong also.
