November 1, 2025 • 41 mins
Labour has introduced their Capital Gains Tax policy after it was leaked to the media last week.
If implemented, it would mean a 28% tax on any profits made from house sales excluding the family home.
So what would a tax like this do to the property and rental markets?
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Speaker 1 (00:05):
You're listening to the Weekend Collective podcast from News Talks at.
Speaker 2 (00:09):
B In all those time, in all those time, will
you know what when I send my watch back to
did in all those time?
Speaker 3 (00:42):
Well, welcome. Let's try to think of something to say
about this little bit of country music. We're easying you
into the hour with but welcome back or welcome And
this is the Weekend Collective If you have just joined
us on Tim Beveridge and this is the one roof
radio show where we want your calls on eight hundred
and eighty ten eighty. Don't forget looking a little further
(01:03):
ahead to the parents Squad will be joined by Sheridan Ekatona,
and we're going to have a chat about now that
the biscuitin you know the thing they do it in
Parliament where people put their bills into the biscuit ton.
The bill about the under sixteen's not having access to
social media has been has been introduced, so we're going
to have a chat about that but also the positive
sides of technology for your kids as well with Sheridan,
(01:24):
she's from the parenting place, joining us at five o'clock.
But right now this is one roof and look we
touched on it in the panel. We probably did more
than touch on it in the panel, I think with
Jordan Williams and Luke Dallo. But the CGT that Labor
has introduced as so it's newest policy, a capital gains tax,
(01:47):
if introduced, it's going to be twenty eight percent tax
on the profits made from house, residential and commercial property
sales excluding the family home. There's not a lot of
detail to it, which is probably because it was leaked
before they launched it. But there have been a lot
of questions around how the policy would work. Will it
be the end of the bank of mum and dad?
(02:09):
What's you know? What do you do about putting homes
in the family names of other family members? What will
it do to the property and rental markets? And so
if investors are going to make a smaller profit, what
are they going to do. Are they going to try
and push up rent prices or not?
Speaker 4 (02:25):
What?
Speaker 3 (02:25):
So what would a capital gains tax do it or
our property market? Because it is an emotive topic for
New Zealanders and yet there are a lot of capital
gains taxes around the world. So we're going to thrash
it out and you can give us your reckons on
it as to whether you actually object to the capital
gains tax on its face, or you object to it
because you don't like the reasons labors bring it in,
(02:47):
you don't trust the way they're going to bring it in.
And what's going to be, you know, the interest deductibility,
whether that will be part of it, But your reckons
on it on eight hundred and eighty ten eighty. Anyway,
that's a very long introduction to saying who our guest
is going to be. She's an investment coach at Property
Apprentice and her name is Debbie Roberts, and is Debbie. Hello, Hello,
how are you good? Good?
Speaker 5 (03:08):
So so much fun, so much fun.
Speaker 3 (03:13):
I mean, that's what I thought when I saw the announcement.
I thought, oh, your pee talkback is going to be
a piece of cake.
Speaker 5 (03:17):
Yeah, yeah, no, exactly. And nobody's short of an opinion
when it comes to capital gains tax?
Speaker 3 (03:23):
Are they is okay? Short question? Is a capital gains
tax the devil?
Speaker 6 (03:30):
No?
Speaker 5 (03:30):
I don't think so. I mean that's my personal opinion.
I don't think it's the end of the world. I
think potentially one of the side effects that could be
from this is that people just won't sell, or they
might wait longer before they sell so they make a
bigger profit.
Speaker 3 (03:45):
Wait for a change of government before they sell, or
not that team.
Speaker 7 (03:48):
I don't know how that would work.
Speaker 3 (03:49):
Actually, gosh, that's that's looking a bit too far ahead
for me.
Speaker 5 (03:52):
Yeah, but so many a year away, and a lot
can happen in.
Speaker 3 (03:55):
A year, so many, so many countries have capital gains tax.
I think you might have a take on this as well.
But I think that one of the reasons that I thought,
I thought mildly negatively about it was because it was
about taxing so they could spend on something. And then
(04:15):
Hipkins childish shot at and saying that Christopher Luxen, who
we know as a wealthy man, has just flipped some properties,
which I think was a very dishonest way of representing it,
and has made six hundred thousand dollars or whatever, And
I thought, are they really basing their tax policy on bitchiness?
Speaker 5 (04:36):
I think yes. Describe frankly, I mean, they seem to
be continuing on with the with what the previous government had,
which is seeming to divide as many different sectors in
New Zealand as possible, you know, putting us against them,
poor against wealthy, you know, just creating, creating arguments where
(05:00):
there doesn't need to be one. My biggest issue with
this is the weird timing with the announcement.
Speaker 3 (05:08):
Well it was leaked, Yeah, I know it was.
Speaker 5 (05:10):
Leaked, but still, well, why would you talk about introducing
a capital gains tax to pay for free GP visits?
You know, three v three free GP?
Speaker 3 (05:21):
Is it? It's a twist to it?
Speaker 7 (05:22):
Quickly?
Speaker 5 (05:23):
God, I know, just try.
Speaker 3 (05:24):
Three free GP and asked me to do it again.
Speaker 5 (05:27):
So yeah, but why would you Why would you make
an announcement like that as your first tax policy at
a time where housing's the most affordable it's been for
about a decade and rents have come down.
Speaker 3 (05:39):
Well, I think also because they want maybe they want
to put sort of maybe it's a political move that
they want the discussion to be about the haves and
the haves nots and wherefore, if you, you know, if
you feel about downtrodden, we're going to get those.
Speaker 5 (05:53):
Rich pracks so they can pull the pin on the
thing just before the election and look like the good guys.
Speaker 3 (05:58):
Or the reason that they also that they the reason
that they brought it up was had to be because
of the leak. I mean simply, you've simply described the
reason that it wasn't going to be an announcement they
were making this week or in the next couple of weeks,
because there were so few, so many questions unanswered that
and Hipkins, I think in his interview with might have
(06:19):
been with Heather who didn't he kept on referring, oh, well,
you can refer to the Tax Working Group for that,
because he didn't have that.
Speaker 5 (06:26):
He didn't understand he wasn't ready exactly. And I think
some of the language that Chris Hipkins has used when
he was talking about it, like one of the things
that he said was the purpose of the tax is
to shift New Zealand away from relying on property speculation.
Now he talks about property investors as being speculators or
(06:47):
flippers all the time, and I think it's tiresome. Someone
needs to tell him, someone needs to tell him that
there's a difference between property investors and speculators like flippers.
Speaker 3 (06:59):
For example, if you buy and flip it a few
months later because you've seen there's an opportunity to make
quick buck.
Speaker 5 (07:05):
Yeah, well, regardless of timing, if you buy a property
with the intention of selling it. That triggers GST and
tax on profit.
Speaker 3 (07:15):
It does, it's just that it's not ever acknowledged that
that was the reason most investors do. We all go
with the i'll use the word pretense for one of
a better word, that you're buying something for rental return
when ultimately, really in twenty years, you hope it's tripled
in value too, don't you.
Speaker 5 (07:30):
Well, I think that there's some investors that do that,
but there's also a lot of investors that don't ever
plan on selling their properties. You know, if they buy a.
Speaker 3 (07:38):
Property and it's difficult to tell the difference.
Speaker 5 (07:40):
Well, it can be, yeah, but here's the kicker inland
revenue doesn't need to prove that you intended to sell it.
They it's on you to prove that you didn't.
Speaker 7 (07:50):
Yeah.
Speaker 5 (07:51):
So I think we are going to get to a
point more and more where property investors will need to
be buying for cash flow, not for capital growth.
Speaker 3 (08:01):
Because here's the other thing is and i'd love your
cause on this as well as if you were going
to sell a capital gains tax as a tax. I
think that this is where and somebody said, oh, look,
here we go labour bashing again. Well, the reason it's
they're going to get a flogging is because they blim
and well ask for it with this ridiculous selling of
this policy and playing envy politics. But here's the way
to sell. Here's my guess. I haven't prepared this. I'm
(08:23):
making up as to go along. I'm campaigning for politics.
I'm going to introduce a capital gains tax. I will
simply say I think that obviously, we have a lot
of expenditure that the government has to do. You can
see where we need to invest more in infrastructure, and
I don't believe I believe that when people are buying
and selling property and making a big profit on it
(08:44):
and not paying tax. I think that is a gap
that we need to close, and we'd like to do
it simply for that reason, full stop.
Speaker 5 (08:53):
Yep, except property flippers do pay tax. About half of
the profit goes to.
Speaker 3 (08:58):
Well no, but I'm talking in gym general.
Speaker 5 (09:00):
People that buy property and then sell it ten years
down the track or whatever.
Speaker 3 (09:04):
Yeah, So what do you think what effect do you
think it would have on will it have if it
comes in on the market a property tax? Because there's
a lot of drama there's big claims about our landlords
will put rents up, which I think is nonsense. You
might have a different take on that, of course, or
whether it will disincentivize people or will lower prices. What
(09:27):
do you think it's going to do.
Speaker 5 (09:28):
So, Like, again, I don't have an issue with the
capital gains tax, but I think it needs to be fair.
And from what I've heard, they're not planning on making
this one adjusted for inflation, and that's not fair. So
in other words, they're going to expect property investors to
be taxed on inflation and I don't think anywhere else
does that that I'm aware of. Like, I'm not an
(09:51):
expert on right, No, neither am I.
Speaker 3 (09:53):
But I wasn't sure whether it's too complex to have it.
But inflation is a verifiable measure.
Speaker 5 (10:00):
It's a verifiable measure. It wouldn't be that complex, for
crying out loud, it's more complex to work out how
much tax you've got to pay on your rentals. Because
this is the other thing they always talk about how
property investors don't pay tax. Yeah they do. I don't
know a single property investor that doesn't have an accountant.
Speaker 3 (10:18):
Somebody said in the text and I've heard this as well.
Rents will go up if a CGT comes in, and
I don't believe that computes.
Speaker 5 (10:25):
I think it depends. So there's two scenarios that could
play out. Right, So we've got a deadline. First of
July twenty twenty seven. That's valuation date. So that's when
you've got to have valuation on your rental property. It
will take five years, which I thought was random. But anyway,
so let's say first of July twenty twenty seven. Anyone
(10:45):
who's really freaking out about this is going to sell
their rental properties before that date. So if they sell
their rental property before that date, then that could create
a bit of a short wore the date though, so
that you don't have to pay capital gains tax.
Speaker 3 (11:01):
But if you can, I argue against that for a second.
They say, June the thirtieth, I can sell it for
a million dollars, but June July the fifteenth, I can
sell it for one point five million. Well, I'm only
I want to sell it for the extra money because
I'm only paying tax on the difference.
Speaker 8 (11:19):
Yep.
Speaker 3 (11:19):
So but do you think people would just panic and sell?
Speaker 5 (11:22):
I think there will be some people little panic and sell.
But you know, I mean, stranger things have happened. We
had people that panicked and sold when they lost interest deductibility,
you know, and some investors did not. And I tell
you what, the people that held on to their investments
did pretty well out of it, because even though some
(11:43):
landlords sold, what happened was a shortage of rental properties,
huge demand from tenants and its supply and demand that
pushes rents up.
Speaker 3 (11:53):
Because I mean, obviously with lack of interest deductibility, which
is a separate thing, but that's what we still don't
have an answer for. That's the thing that puts rents up.
Because you know, if it's become more expensive to be
landlord on a week by week basis, then you're going
to try and recover that.
Speaker 5 (12:09):
Rent as much as you can. Yeah, And I mean
you can only increase rents once a year, which is fine,
you know, if you've got the same tenant in place.
But yeah, I think if your costs have increased as
a landlord, you will review the rents. Whereas if your
costs haven't increased and you've got a good tenant in place,
you're probably more likely to keep things where they are
(12:31):
having said that new point at the moment most rents
are dropping.
Speaker 7 (12:35):
Yeah, and well we can dig into that in just
a moment.
Speaker 3 (12:38):
We want your cause though on the CGT, so Chris
Haipkins sort of personalized it and what I thought was
unnecessarily I can't think of the word apart from the
word BITCHI, but unnecessarily personal in his attacks. But the
CGT itself, what do you make of it? Is it
(13:00):
the worst or do you think actually CGT doesn't particularly
bother me. It's the questions around policy that frightened me
a little bit more than an actual CGT. Your reckons
eight hundred eighty ten eighty What do you think it's
going to do to the market, rents, property prices, supply demand,
the whole shebang, And let's get it started with a call,
shall we alan hello?
Speaker 9 (13:22):
Yes? First off, Chris had getten to take on the
Prime Minister for making a profit on selling his excess
properties that he had apartments and a light. People need
to realize Chris Hopkins, he personally has rental houses, but
he's chosen not to sell them. So let's just clarify
(13:43):
that has he got rental properties?
Speaker 5 (13:46):
Because my understanding was that he's got a holiday home.
Speaker 3 (13:49):
Yeah, I thought it was just a holiday home. But anyway,
he's got more than mind I.
Speaker 9 (13:52):
Understood I heard before come across the news he had
a couple of rentals in the Happy area. But anyway,
moving aside from that.
Speaker 3 (14:02):
He's got a family home in a beach house the
recent and what he said.
Speaker 10 (14:07):
This is closure.
Speaker 9 (14:08):
Okay, bear it up. I'll pull that back then. But
that bright line, that mark was shifted back after Labor
put it up. So that's why it was stolen by
the Prime Minister. He had no need for those properties
and he just sold it within the window, so it
(14:28):
wasn't a forced issue. I'm moving aside from that one.
What Labour's proposing is selective. It'll be costly for anybody
because their accountants are going to have to do work.
I'd actually propose because the country does need money, the
crown does. We all realize that. Why not just move
(14:49):
straight to a stead duty one percent across all land
building and house sales, regardless whether you got one house,
two houses, or house and a badge. If you sell
it at one day in point of time, you will
acquire one stamp duty on it, regardless and that'll fall
(15:11):
to the government. It'll be minimal work for an accountant
to work out. Nobody has to have an influence on
putting up rents or anything like that because a rental
property stays a rental property, so there's no need to
put it up. It's only going to incur it tax
when it sells.
Speaker 3 (15:29):
So basically that's your that's what you would propose if
they wanted to get a tax property in some way
would be a stamp duty, Debbie, what do you reckon?
Speaker 5 (15:36):
The problem with stamp duties is that it's the purchaser
that pays the stamp duty if they do the same
as what they've done in Australia. So that is going
to make it harder for first home buyers to get
into the market because it's an extra bit over and
above their deposit.
Speaker 9 (15:55):
But when you look at it, if you're selling, say
we take a house. You're selling your house for a
million dollars. I roll up to buy your house and
it's not going to be a million dollars plus one percent.
I'm going to tell you no, we're going to take
the one percent off the million dollars.
Speaker 3 (16:12):
You're saying it's factored into the way the market works.
Because there's so much money that goes around, it gets absorbed.
Is the argument is that, so people may be not
prepared to pay that extra one percent, but.
Speaker 5 (16:24):
There's the purchase that you still have to pay it,
and then revenue aren't going to go, oh you you
got a discount of one percent?
Speaker 3 (16:30):
Okay, well no, no, no, what they What it means is
that people will be factoring into that, and they'll be
factoring the one percent into what they're prepared to pay
for property because they know they've got that. You know,
it's like having attacks. You know, when you buy a
pound of butter, it's whatever it is, plus fifteen percent
that's built. Whether people would build that and you know
(16:50):
what I mean themselves, that's what you're saying, isn't.
Speaker 9 (16:54):
Yeah, the total price including the one percent, comes to
a million dollars for your house. Yeah, so yeah, you're
not forcing up the price on a house for a
first time owner or anything like that. It will just
become like buying a local red down the road. Eventually,
all the taxes built and on the price advertised, and
(17:15):
that's it.
Speaker 3 (17:15):
I guess you get used to any tax as the
point that Alan's also making in Australia, they get used
to stamp duty. It does paralyze those who have to
shift around a bit.
Speaker 5 (17:24):
Yeah, I don't think it'll make any impact on people
who are upgrading or downgrading their home, and I don't
think it will have any impact on property investors who
are using equity to purchase another property. But the ones
that it will impact will be the first home buyers
who've got cash deposits. Plus they'll have to come up
with another percentage to pay the stamp duty on top
(17:45):
of that.
Speaker 3 (17:45):
I think I saw the numbers on what a stamp
duty would raise and it's a hell of a lot
more effective than a capital based texas well.
Speaker 5 (17:51):
Sure, so this is another interesting thought that I.
Speaker 7 (17:53):
Have, or here we go.
Speaker 3 (17:54):
I think it's interesting.
Speaker 5 (17:56):
Look out. So what I was thinking was he's talked
about how it's going to move people away from relying
on property speculation. The issue is that it relies on
capital growth to make it work, right, It relies on
capital growth to make it work, and then it relies
on people selling their properties for a profit, so they
pay tax on that. So doesn't that make the Labor Party,
(18:20):
New Zealand's largest property speculator.
Speaker 3 (18:23):
Oh hot takes from Debbie Robins. That's something you prepared, Yes,
I prepared earlier.
Speaker 7 (18:29):
Something you prepared earlier.
Speaker 3 (18:30):
It's we're going to come back with more calls that
were lining up eight hundred and eighty ten eighty. Your
take on Labour's policy and CGT, but also taking the
party politics out of it. Do you mind a CGT
on the face of just all other taxes we pay?
Does it actually bother you? Or is it more that
there's party politics involved and trusting who's going to implement
things and you know how it's going to work and
(18:52):
all that sort of thing, which I think is probably
many people's problems with it as well. Twenty five Past
four News Talks a B Back in the Mint News
Talks a B with Tim Beverage. Debbie Roberts is my
guest Capital Gains Tax Chat. Do you like it?
Speaker 9 (19:02):
Loath?
Speaker 3 (19:03):
It? Is it the worst thing in the world? What
do you reckon?
Speaker 8 (19:05):
Mike? Hello? Ah, Hi, Yes, things good?
Speaker 7 (19:10):
Thanks?
Speaker 3 (19:10):
Sorry I should have mentioned where you're with Debbie Roberts
as well.
Speaker 6 (19:13):
Mike.
Speaker 8 (19:14):
Hi, Debbie. Look, I've been a property owner and investor
and a developer over this a few years and I've
got rid of all my properties now except for one,
which hopefully will sell soon. But my experience of owning
property is one that you don't really make much money
out of owning them if you've got a big mortgage,
(19:36):
because generally the time you pay rates, assurances, repairs and maintenance,
property management fees, all the multitude of things that go
with it, and you're interest bill, the chance that you're
making any money is putted them and slim. And the
only time you really make it is if you hang
on to your property for a long time and capital
gain does actually work for you in the end. But
(20:01):
there's also the issues that you have with tenants. And
we had a block of four houses that we bought
years and years ago, and when the labor party bought
in that or canceled the ninety day rule, we decided
it was time to get out, because when you've got
four properties in a group like that, you only have
(20:23):
to have one bad tenants and all the others go
exactly and that happened with us.
Speaker 3 (20:28):
I think what you're reminding everyone is it's actually not
that easy being a landlord. Everyone thinks that there are
people who just say you've got all that property and
you're just creaming it and it's so easy. It's money
for jam.
Speaker 5 (20:37):
Where's statistically the majority of property investors, mom and dad
investors who've got one rental, they're just trying to get
ahead financially.
Speaker 3 (20:45):
Did you think it would be easier that would be
when you got into it, Mike, what was motivating when
you bought it?
Speaker 8 (20:53):
What motivated me to get into it was to give
ourselves some form of supplementary income when we got older,
and that the whole idea was to have you say,
four or five of them, so that that would support
ourself us as plus a pension from the rent, but
the rent from it. But the more we sort of
(21:16):
spent time with it, the more we realized that actually
there's very little money, in actual cash money coming through
to us. Most of it seemed to end up going
somewhere else, like I can just do your example. The
one property we have left, we've just had to spend
about sixty thousand dollars because the bathroom flour fell out.
We had to completely redo the bathroom and we didn't
(21:38):
even know that there was a slow leak in behind
the shower. You couldn't see it and next thing we see,
the vanity is sinking like bike about ten mil and
they were wondering why. So we had to put the
take tenant out, pay for rent for another property for them,
and paid fifty odd thousand to get it all fixed up.
(22:00):
So we had a brand new bathroom, but went into
the kitchen, so we had to do work in the kitchen,
went into the lounge, so we had to let work
in the lounge that just you know, things like that
can happen and suddenly your whatever you thought might be
going to make a bit of money out of has
all disappeared. But that was a block of four and
(22:21):
we've sold three of them. But the problem we had
was when labor introduced that we rescinded the ninety day rule,
we couldn't get rid of the tenant who was causing
a problem. So we had three other tenants and other
houses that left, and the word got out. But you know,
that's not a very nice place to go because that
(22:42):
tenants are poper asshole. So we had our house expression
some time. Yeah, and in the end we decided that
the only way to do it was to say we're
going to renovate the house that she was in and
got her out through that and did some minor renovations.
But you're doing nothing and they come back and find out,
then you're in the gun.
Speaker 7 (23:03):
Yeah.
Speaker 3 (23:05):
Hey, thanks for sharing that with us, Michael.
Speaker 5 (23:06):
And the good news is that if you do spend
money on a property, you know, while it's tenanted or
you know, even before you're looking at selling it, I
would assume, but looking at what they've talked about so far,
that money that you spend on improving the property is
going to come off the capital gains the same.
Speaker 3 (23:24):
You can offset it, you mean, you can set that
well as you should be able to.
Speaker 5 (23:27):
Yeah, repairs and maintenance, and I think if they're all properly,
all properly investors budgets and.
Speaker 3 (23:32):
I think if you sell to buy, I think that
you don't pay capital gains. I'm not sure about that,
but the thing is it hasn't been very well explained,
so who knows.
Speaker 5 (23:40):
Yeah, there was some talk about a rollover, wasn't there.
So if you're selling something and then reinvesting in something
more expensive, there's no.
Speaker 3 (23:47):
Yeah he did, I think he did.
Speaker 5 (23:48):
Say, but there could be some rollover. So yeah, okay,
all right, interesting, Right.
Speaker 7 (23:56):
Let's take some more calls laws.
Speaker 8 (23:58):
Hello, Hello, how are you.
Speaker 6 (24:04):
My farming? And it's always been on here where, It's
always been on our worry list Kevin gain tests. But look,
I'm of the view now that it should be okay
if it wasn't on everything the moment you start to
identifying a group of people just house owners or commercial buildings,
excluding farmers. If it was on everybody would all depend
(24:26):
on the percentage it was. So if it was a
small amount, no one would better.
Speaker 7 (24:33):
You wouldn't be keen on farms though, would you?
Speaker 6 (24:36):
Well you would. What's the point depends on the percentage?
Is it one percent, ten percent, fifty percent? What is
that percentage? Because if you include everybody, then the revenues
who picked up exactly? Would you co creator?
Speaker 4 (24:52):
All right?
Speaker 5 (24:53):
The revenue would be a lot bigger if it was
text on everybody because the majority of people that transact
are homeowners.
Speaker 6 (25:01):
You have tried. I mean, all I can say to
that is fharmacy only land all the time and cable
games tex would be a huge impact if they were
in but everybody to do with property was taxed at
the same way, then the percent of your pets would
be very small. Yeah, absolutely, And a revenue base off.
Speaker 3 (25:23):
Yeah, I think the thought to it.
Speaker 5 (25:27):
That's a really good point. And you know, it's one
of those things if a capital gains taxes introduced, it
could become a bit of a slippery slope. You know
that if they introduced a capital gains tax at twenty
eight percent, then a few years down the track they're like, oh,
we need more, you know, so now we're increasing it
to thirty percent, and we're going to include this, and
(25:48):
we're going to include that. You know, the things that
they've excluded so far. It doesn't mean that that's off
the table forever. So yeah, like you know, for example,
the previous time they talked about capital gains if you
ran your own business from home, so if you had
a home office, then your home was included in the
(26:08):
capital gains So home wasn't excluded if you ran if
you had a home office.
Speaker 7 (26:14):
Yeah.
Speaker 3 (26:14):
Actually, I saw also seen a view that it's not
a tax that's really serious about income raising.
Speaker 7 (26:22):
It's more about.
Speaker 3 (26:25):
Driving a political wedge between what Labour stands for and
what National.
Speaker 8 (26:28):
And Act do.
Speaker 5 (26:29):
And that's how it's.
Speaker 3 (26:30):
Going to be because it's such in terms of you
really want to raise some serious income. This is not
the greatest way to do it with a CGT. It's
slow to get income. And that really what they just
want to set up a battle. It's about driving a
wedge and saying this is who we're for, and that
you guys for the property speculators and flippers and the
rich people.
Speaker 5 (26:48):
Absolutely, it's like you know, one of the comments that
Chris Hopkins said was that nine out of ten taxpayers
won't be affected, Like nine out of ten New Zealanders
won't be affected by this. I think it's even less
than that, because there's only fourteen percent of adult New
Zealanders that own an investment property, and eighty percent to
them only own one.
Speaker 3 (27:09):
By the way, just give us a stat on them.
Speaker 7 (27:11):
Now.
Speaker 3 (27:11):
This is always worth reminding people because we think of
the government through coming or or I think anyway. The
government provides housing for people. But what percentage of the
rental market is covered by private investors?
Speaker 7 (27:24):
Debbie.
Speaker 5 (27:25):
So, according to the twenty twenty three census, a third
of New Zealand population live in rental properties. So a
third of our population live in rentals. Private landlords and
trusts provide about eighty five percent of those dwellings AC
five five percent. And I know you know because I
was a tenant before we bought a home, so you know,
(27:46):
and everyone on everyone on air, everyone listening probably knows
someone who's renting or they rented themselves at a period.
Speaker 3 (27:55):
I think to know what percentage of the population have
rented at some stage, just about me, everyone wouldn't it.
I mean it's not many people get lucky enough that
they leave move house and buy their own without ever renting. Yeah,
or get given one by mom and dad, of course.
Speaker 5 (28:10):
Which would be like that would have been nice.
Speaker 3 (28:12):
But hey, look, we want your thoughts on this. We've
got lots of texts and everything. Chuck is next, but
there's some spear lines as well. It's twenty two and
a half minutes to five News Talks. He'd be yes,
Welcome back to the one roof radio show. I'm Tim Beverage.
Speaker 7 (28:24):
My guest is d W. Roberts.
Speaker 3 (28:25):
We're talking about the CGT that Labor was forced to
announce last week. Love it, hate it? What do you
think it'll do if it ever comes? And of course
there's a bigger because they do actually have to win
an election, which is that's a big hurdle.
Speaker 7 (28:39):
So anyway, let's go to Chuck.
Speaker 11 (28:42):
H right, Tim Dabby, Yes Hi, I wanted to talk this.
The way they're bringing it in, it's almost unique. They're
bringing it in with hear tabbing the money to three
GP visits a year. Well, Celia Robertson scotten article in
(29:04):
the Herald why free cares and fair care and could
worsen the house system labors playing could add four point
five million GP visits a year to a stretch system.
So I hope that the government, whether it's through Act
or National really make a point of that it's ill
(29:25):
thought of. It's not fought as well, the whole thing,
is it?
Speaker 5 (29:28):
No, And like given that Medicare card, this is something
that got up my nose. So it's going to cost
five hundred thousand dollars to produce the Medikere cards for
everyone across the country. In a day where we've got
the technology that we have and just about everyone's got
a mobile phone, why aren't they making it digital? Surely
that would be a heck of a lot cheaper.
Speaker 11 (29:49):
Yeah, I wonder if they keep their word about the
Medicare card. As you followed what they happen in Australia
old elbow held up this Medicare card. All you need
is a medic card card, not your credit card, and
that proved to be an lie after the election.
Speaker 5 (30:07):
Yeah, I mean, I think there's potential for all sorts
of different kinds of slippery slopes here. But you know,
I mean coming back to the three free GP visits
per year, which is a tongue twister. I don't go
to the GP three times a year, and when I
do need to go, I'm quite capable of paying for
that myself. So why are they offering it to everyone?
Speaker 3 (30:26):
So actually, chuck, just CGT, just at per se, just
a CGT without getting caught up in party politics. Do
you mind it a lot?
Speaker 7 (30:36):
Not much? What do you reckon?
Speaker 11 (30:39):
I minded a lot. It's that one one group of
wealthy people they'll get voting for it. That's tax lawyers
and accountants and will make things very messy. And they've
already they already tell half truth. They say that your
shares won't be taxed. That's half true. I've got shares
(31:00):
and various things. One is property for industry, that's factories
in that that share well.
Speaker 3 (31:07):
No, no, no, that the property that that that generates
the income for that company will be taxed, but the
share your share price will not be taxed. I think
you know that.
Speaker 11 (31:18):
Well, let's see what DeBie thinks. The share proce itself
won't be taxed, but it will mean owing shares in
that particular and companies that have property that will reduce
your dividends.
Speaker 3 (31:35):
Sure, well, well yeah, but that's tax on on in
a stage before the share price itself. But I know
what you mean, cha, yeah, hey, Actually, just before we
go to Steve, I'll read a text out from Dallas
who says I was hoping for a more objective take
on CGT rather than just fear mongering about what the
sneaky Labor party might or might not do. And I
(31:56):
acknowledge your text, Dallis, But you see Labour's Earn't that
Labor has earned that suspicion because of its, you know,
dishonest way that they thought they would say, we're not
going to remove interest deductibility, it won't affect rents. I
think labor has earned the suspicion that we attached to them.
Speaker 5 (32:16):
Yeah, And I mean, like I said it right at
the beginning, I'm not against a capital gains tax because
it's pretty easy to avoid. It just don't sell right. Well,
so it's but the thing that annoys me is the
way that they're promoting this, like they're literally marketing this
as a way to tax the wealthy to you know,
(32:37):
to pay the healthcare for the proble. But that's not
what the reality is. The reality is that most investors,
mum and dad investors, and most of the people, like
two thirds are the people that are going to get
these free healthcare visits GP visits, don't need it.
Speaker 7 (32:54):
I also think that.
Speaker 3 (32:58):
The fact that something's going to get taxed has never
been a disincentive to people investing in something. Otherwise I
wouldn't turn to work. I don't turn up to work
to them because they're going to pay you and you're
going to get text on what you were in. And
it's like, I still turn up to work because I
want the money. If I can make a million bucks
and property in the next fifteen twenty years.
Speaker 5 (33:16):
And you're going to get and you're going to still
going to be a twenty eight million, you're still going
to make seventy two million, No.
Speaker 3 (33:23):
Twenty eight two hundred and eighty thousand.
Speaker 5 (33:25):
Right, Yeah, would you trust this financial advisor. Oh my god,
I didn't get much sleeper.
Speaker 3 (33:31):
A few that one. But I think we knew what
you meant.
Speaker 7 (33:34):
You were assuming I was going to make a billion.
Speaker 3 (33:36):
That's what you've just misheard me say million. Maybe I
have a cold.
Speaker 5 (33:39):
Don't make a billion for me. It was a slip.
Speaker 3 (33:44):
Right, Let's go to Steve.
Speaker 9 (33:45):
Hello, Hey here, you guys going good.
Speaker 10 (33:50):
I'm sorry, I was just I just wanted to understand
what's the difference between what they're proposing and the Brainlan
test at the moment, So is it any is it
different or literally going to to just affect like people
that personally own rental properties and when they sell those
have to pay tax. Yeah, major difference.
Speaker 5 (34:12):
So the major difference is that the bright line is
it's got a timeline. So it's a two year bright
line period. So if you tell if you sell your
property within two years, you pay tax on that. This
capital gains text. There's no timeline.
Speaker 3 (34:27):
It's like the bright line test for where the period
of time is infinite.
Speaker 10 (34:32):
Yeah, yeah, okay, so you're basically just remembering the bright line.
So if you own a property that's not your home
and you sell it, an income with data traditor's income.
Speaker 3 (34:42):
Yes, not your home, your family home.
Speaker 10 (34:46):
But like any other your own that's right. And sure, okay,
so it's not going to really affect it's I'm going
to affect the investors. It's not going to affect like
flippers or developers or anything like that, because we already
pay text.
Speaker 3 (35:00):
Absolutely are you Are you a developer or a flipper?
Speaker 10 (35:04):
Yeah, So here's an So he's an I already pay,
already pay tax, so it doesn't affect me whatsoever at
least I start holding, and then when I sell, I
pay tax, but I have to anyway, I'm harnished as
a developer. I just it doesn't affect me at all.
Speaker 5 (35:23):
So he's an interesting thought though. If if the capital
gains tax is twenty eight percent and you pay gest
plus tax on profit, if they bring in this extensive
capital gains tax and that incorporates what you do as well,
you're going to be better off.
Speaker 10 (35:41):
Yeah, I'll be better off. Yeah, yeah, because I mean
I just pay. I just pay company tax, so they
can't they can't bring it in the slot. Yeah, it
doesn't stay me. Yeah, I just take company tax. Like
if I develop and I've got say half a miment
or some profit. I either leave the money in the
business pay company tax, or I disburse the funds to
the shareholders and they pay their own personal tax, so
(36:03):
it doesn't affect me at all.
Speaker 7 (36:05):
Developing game by the way, all right.
Speaker 10 (36:08):
Yeah, Catery, Yeah, yeah, pretty good. Yeah, Precious is a
good place to do it. Someone's a good place to
do it.
Speaker 7 (36:13):
Good stuff.
Speaker 10 (36:15):
Why not so much? The development contributions out there are horrendous.
Speaker 3 (36:20):
Yeah, okay, okay, good good stuff. Cheers, mate, Thanks Steve.
We'll be back in. Hang on a minute. Yeah, we'll
be back in. We'll be I know, we're just going
to go to David. Hang on a second. I'm just
getting instructions from my from the boss out in there
in the booth there, David.
Speaker 9 (36:37):
Hello, oh hi, just so quickie.
Speaker 4 (36:42):
I'm thinking about this capital gains tax and symmetry, which
is normally kind of a principal and tax. If I
if I buy a property and then sell it at
a loss, is that loss text aductible Apparently not.
Speaker 7 (36:57):
What do we know, Debbie, they have.
Speaker 5 (37:01):
Yeah, they haven't made that clear as far as I
can see, But what they have said is that there
could be some rollover relief. So it depends on what
that rollover relief looks like. You know, if you sell
one property at a loss and you own other properties
in the same entity, then potentially you'll get that as
rollover if you sell the other one.
Speaker 7 (37:24):
But who knows, Well, we don't quite know.
Speaker 4 (37:27):
Yeah, okay, Yeah, it's quite a big game.
Speaker 5 (37:31):
There's a lot of questions around this. I think so yeah,
And I think my opinion is they could have they
could have announced this much smarter without it sounding like
an Envy Tex.
Speaker 6 (37:43):
You know.
Speaker 3 (37:44):
It's yeah, actually you're right in terms of that, but
also in terms of the timing, and they probably agree
with you that they didn't really mean to launch. But
it's out there now. Hey, thanks David. I've we've got
to go because we've got to come back with the
property a week, which is in just a moment.
Speaker 1 (37:56):
It is ten minutes to five, the one roof property
of the week on the Weekend Collective.
Speaker 3 (38:05):
Yes, the one roof property of the week is it's
in Wellington today and so it is in Candalah, which
I think we've picked Candala a few times. It could
be a favorite suburb of my producer tire because I
think she's picked a couple of Candala properties. Mind you,
there's a reason that she would have picked a couple
of Candala properties because it is a rather nice suburb
and in the right place. The views are absolutely magnificent
(38:26):
and this is well yeah, I mean the views are stunning.
It is fourteen Shalimar that's Sha l Imaar Crescent in Candala.
Six bedrooms, three bathrooms, three car parks. Importantly, the house
is Now think of how big your house is. I
think our house living area is about one hundred and
fifty square meters. There's this one is three hundred and
(38:49):
forty five square meters on almost seven hundred square meters
of land. It's only recently built, it's a couple of
it's only a year old, and it's for tender, which
I hate. You think of it, Debbie Roberts. What do
you like tenders?
Speaker 7 (39:02):
I haven't given the price.
Speaker 3 (39:03):
Yet, but do you like tenders?
Speaker 5 (39:04):
Well on how much you know about the area, because
like a tender is basically you make an offer and
see what happens, so you know, it's a bit like
price on application and all that sort of stuff as well.
Speaker 3 (39:15):
Although in terms of what you're getting banged for buck
and I don't want to look in Auckland quite ordinary
properties can be still worth one and a half million,
two million bucks. And I don't mean that in a
snobby way, but for an Aucklander you'd be looking at
the going. Goodness me it is because looking at this's
got a lovely pool, a beautiful deck with amazing views.
(39:36):
It's on looks like a couple of looks like it
almost looks like it's on three levels, I think, isn't
it from the pictures I've got?
Speaker 5 (39:42):
And it's got a lift as well, doesn't it modern?
Speaker 3 (39:45):
Beautiful sort of concrete walls.
Speaker 7 (39:47):
It's got an elevator, I think, just for that.
Speaker 3 (39:51):
But it's r V. It's estimate, should I say, is
two point one two million dollars? I want to say
if that were in Auckland, it'd be about five depending
what suburbits and what did you how would you describe
the property?
Speaker 5 (40:05):
Yeah? I think there's literally something for everyone in that one.
It's a beautiful spot, amazing view.
Speaker 3 (40:10):
What do you look for in an open home or
if you're looking through pictures, what's the go to room
that you think I need to see? What the deck
or the lounge or the entertainment area or the walk
in wardrobes which this thing has. It could be a
spare bedroom just about sometimes walk in wardrobe.
Speaker 5 (40:27):
That one's huge, isn't it Like? It depends on what
I'm looking at buying it for. If it's for an investment,
for a home.
Speaker 7 (40:33):
For Demie Roberts to hang out in.
Speaker 5 (40:35):
So it was the kitchen in the outdoor area that
had potential that sold me on our current home.
Speaker 3 (40:41):
There we go, and what about this one? Would this
sell you on the outdoor living for this one?
Speaker 5 (40:46):
Climate Scott, Yeah, that could be another bedroom possibly as well.
I think the swimming pool's nice.
Speaker 3 (40:53):
Anyway, go and check it out the what's the address
again on the wonder if website It's fourteen Shlima Crescent
in Candallah. By the way, thank you for all your texts.
If the texts are anything to go by, there's a
lot more selling of this policy that label needs to.
Speaker 7 (41:07):
Do to get it over the line.
Speaker 5 (41:08):
I think, Debbie, Yeah, I think so more detail needed.
Speaker 3 (41:12):
Check out Property Apprentice.
Speaker 7 (41:13):
That is.
Speaker 3 (41:14):
Debbie Roberts will be back with the Parent Squad as
next news talks.
Speaker 1 (41:18):
Edp for more from the weekend collective listen live to
news talks edb weekends from three pm, or follow the
podcast on iHeartRadio
You're listening to the Weekend Collective podcast from News Talks at.
Speaker 2 (00:09):
B In all those time, in all those time, will
you know what when I send my watch back to
did in all those time?
Speaker 3 (00:42):
Well, welcome. Let's try to think of something to say
about this little bit of country music. We're easying you
into the hour with but welcome back or welcome And
this is the Weekend Collective If you have just joined
us on Tim Beveridge and this is the one roof
radio show where we want your calls on eight hundred
and eighty ten eighty. Don't forget looking a little further
(01:03):
ahead to the parents Squad will be joined by Sheridan Ekatona,
and we're going to have a chat about now that
the biscuitin you know the thing they do it in
Parliament where people put their bills into the biscuit ton.
The bill about the under sixteen's not having access to
social media has been has been introduced, so we're going
to have a chat about that but also the positive
sides of technology for your kids as well with Sheridan,
(01:24):
she's from the parenting place, joining us at five o'clock.
But right now this is one roof and look we
touched on it in the panel. We probably did more
than touch on it in the panel, I think with
Jordan Williams and Luke Dallo. But the CGT that Labor
has introduced as so it's newest policy, a capital gains tax,
(01:47):
if introduced, it's going to be twenty eight percent tax
on the profits made from house, residential and commercial property
sales excluding the family home. There's not a lot of
detail to it, which is probably because it was leaked
before they launched it. But there have been a lot
of questions around how the policy would work. Will it
be the end of the bank of mum and dad?
(02:09):
What's you know? What do you do about putting homes
in the family names of other family members? What will
it do to the property and rental markets? And so
if investors are going to make a smaller profit, what
are they going to do. Are they going to try
and push up rent prices or not?
Speaker 4 (02:25):
What?
Speaker 3 (02:25):
So what would a capital gains tax do it or
our property market? Because it is an emotive topic for
New Zealanders and yet there are a lot of capital
gains taxes around the world. So we're going to thrash
it out and you can give us your reckons on
it as to whether you actually object to the capital
gains tax on its face, or you object to it
because you don't like the reasons labors bring it in,
(02:47):
you don't trust the way they're going to bring it in.
And what's going to be, you know, the interest deductibility,
whether that will be part of it, But your reckons
on it on eight hundred and eighty ten eighty. Anyway,
that's a very long introduction to saying who our guest
is going to be. She's an investment coach at Property
Apprentice and her name is Debbie Roberts, and is Debbie. Hello, Hello,
how are you good? Good?
Speaker 5 (03:08):
So so much fun, so much fun.
Speaker 3 (03:13):
I mean, that's what I thought when I saw the announcement.
I thought, oh, your pee talkback is going to be
a piece of cake.
Speaker 5 (03:17):
Yeah, yeah, no, exactly. And nobody's short of an opinion
when it comes to capital gains tax?
Speaker 3 (03:23):
Are they is okay? Short question? Is a capital gains
tax the devil?
Speaker 6 (03:30):
No?
Speaker 5 (03:30):
I don't think so. I mean that's my personal opinion.
I don't think it's the end of the world. I
think potentially one of the side effects that could be
from this is that people just won't sell, or they
might wait longer before they sell so they make a
bigger profit.
Speaker 3 (03:45):
Wait for a change of government before they sell, or
not that team.
Speaker 7 (03:48):
I don't know how that would work.
Speaker 3 (03:49):
Actually, gosh, that's that's looking a bit too far ahead
for me.
Speaker 5 (03:52):
Yeah, but so many a year away, and a lot
can happen in.
Speaker 3 (03:55):
A year, so many, so many countries have capital gains tax.
I think you might have a take on this as well.
But I think that one of the reasons that I thought,
I thought mildly negatively about it was because it was
about taxing so they could spend on something. And then
(04:15):
Hipkins childish shot at and saying that Christopher Luxen, who
we know as a wealthy man, has just flipped some properties,
which I think was a very dishonest way of representing it,
and has made six hundred thousand dollars or whatever, And
I thought, are they really basing their tax policy on bitchiness?
Speaker 5 (04:36):
I think yes. Describe frankly, I mean, they seem to
be continuing on with the with what the previous government had,
which is seeming to divide as many different sectors in
New Zealand as possible, you know, putting us against them,
poor against wealthy, you know, just creating, creating arguments where
(05:00):
there doesn't need to be one. My biggest issue with
this is the weird timing with the announcement.
Speaker 3 (05:08):
Well it was leaked, Yeah, I know it was.
Speaker 5 (05:10):
Leaked, but still, well, why would you talk about introducing
a capital gains tax to pay for free GP visits?
You know, three v three free GP?
Speaker 3 (05:21):
Is it? It's a twist to it?
Speaker 7 (05:22):
Quickly?
Speaker 5 (05:23):
God, I know, just try.
Speaker 3 (05:24):
Three free GP and asked me to do it again.
Speaker 5 (05:27):
So yeah, but why would you Why would you make
an announcement like that as your first tax policy at
a time where housing's the most affordable it's been for
about a decade and rents have come down.
Speaker 3 (05:39):
Well, I think also because they want maybe they want
to put sort of maybe it's a political move that
they want the discussion to be about the haves and
the haves nots and wherefore, if you, you know, if
you feel about downtrodden, we're going to get those.
Speaker 5 (05:53):
Rich pracks so they can pull the pin on the
thing just before the election and look like the good guys.
Speaker 3 (05:58):
Or the reason that they also that they the reason
that they brought it up was had to be because
of the leak. I mean simply, you've simply described the
reason that it wasn't going to be an announcement they
were making this week or in the next couple of weeks,
because there were so few, so many questions unanswered that
and Hipkins, I think in his interview with might have
(06:19):
been with Heather who didn't he kept on referring, oh, well,
you can refer to the Tax Working Group for that,
because he didn't have that.
Speaker 5 (06:26):
He didn't understand he wasn't ready exactly. And I think
some of the language that Chris Hipkins has used when
he was talking about it, like one of the things
that he said was the purpose of the tax is
to shift New Zealand away from relying on property speculation.
Now he talks about property investors as being speculators or
(06:47):
flippers all the time, and I think it's tiresome. Someone
needs to tell him, someone needs to tell him that
there's a difference between property investors and speculators like flippers.
Speaker 3 (06:59):
For example, if you buy and flip it a few
months later because you've seen there's an opportunity to make
quick buck.
Speaker 5 (07:05):
Yeah, well, regardless of timing, if you buy a property
with the intention of selling it. That triggers GST and
tax on profit.
Speaker 3 (07:15):
It does, it's just that it's not ever acknowledged that
that was the reason most investors do. We all go
with the i'll use the word pretense for one of
a better word, that you're buying something for rental return
when ultimately, really in twenty years, you hope it's tripled
in value too, don't you.
Speaker 5 (07:30):
Well, I think that there's some investors that do that,
but there's also a lot of investors that don't ever
plan on selling their properties. You know, if they buy a.
Speaker 3 (07:38):
Property and it's difficult to tell the difference.
Speaker 5 (07:40):
Well, it can be, yeah, but here's the kicker inland
revenue doesn't need to prove that you intended to sell it.
They it's on you to prove that you didn't.
Speaker 7 (07:50):
Yeah.
Speaker 5 (07:51):
So I think we are going to get to a
point more and more where property investors will need to
be buying for cash flow, not for capital growth.
Speaker 3 (08:01):
Because here's the other thing is and i'd love your
cause on this as well as if you were going
to sell a capital gains tax as a tax. I
think that this is where and somebody said, oh, look,
here we go labour bashing again. Well, the reason it's
they're going to get a flogging is because they blim
and well ask for it with this ridiculous selling of
this policy and playing envy politics. But here's the way
to sell. Here's my guess. I haven't prepared this. I'm
(08:23):
making up as to go along. I'm campaigning for politics.
I'm going to introduce a capital gains tax. I will
simply say I think that obviously, we have a lot
of expenditure that the government has to do. You can
see where we need to invest more in infrastructure, and
I don't believe I believe that when people are buying
and selling property and making a big profit on it
(08:44):
and not paying tax. I think that is a gap
that we need to close, and we'd like to do
it simply for that reason, full stop.
Speaker 5 (08:53):
Yep, except property flippers do pay tax. About half of
the profit goes to.
Speaker 3 (08:58):
Well no, but I'm talking in gym general.
Speaker 5 (09:00):
People that buy property and then sell it ten years
down the track or whatever.
Speaker 3 (09:04):
Yeah, So what do you think what effect do you
think it would have on will it have if it
comes in on the market a property tax? Because there's
a lot of drama there's big claims about our landlords
will put rents up, which I think is nonsense. You
might have a different take on that, of course, or
whether it will disincentivize people or will lower prices. What
(09:27):
do you think it's going to do.
Speaker 5 (09:28):
So, Like, again, I don't have an issue with the
capital gains tax, but I think it needs to be fair.
And from what I've heard, they're not planning on making
this one adjusted for inflation, and that's not fair. So
in other words, they're going to expect property investors to
be taxed on inflation and I don't think anywhere else
does that that I'm aware of. Like, I'm not an
(09:51):
expert on right, No, neither am I.
Speaker 3 (09:53):
But I wasn't sure whether it's too complex to have it.
But inflation is a verifiable measure.
Speaker 5 (10:00):
It's a verifiable measure. It wouldn't be that complex, for
crying out loud, it's more complex to work out how
much tax you've got to pay on your rentals. Because
this is the other thing they always talk about how
property investors don't pay tax. Yeah they do. I don't
know a single property investor that doesn't have an accountant.
Speaker 3 (10:18):
Somebody said in the text and I've heard this as well.
Rents will go up if a CGT comes in, and
I don't believe that computes.
Speaker 5 (10:25):
I think it depends. So there's two scenarios that could
play out. Right, So we've got a deadline. First of
July twenty twenty seven. That's valuation date. So that's when
you've got to have valuation on your rental property. It
will take five years, which I thought was random. But anyway,
so let's say first of July twenty twenty seven. Anyone
(10:45):
who's really freaking out about this is going to sell
their rental properties before that date. So if they sell
their rental property before that date, then that could create
a bit of a short wore the date though, so
that you don't have to pay capital gains tax.
Speaker 3 (11:01):
But if you can, I argue against that for a second.
They say, June the thirtieth, I can sell it for
a million dollars, but June July the fifteenth, I can
sell it for one point five million. Well, I'm only
I want to sell it for the extra money because
I'm only paying tax on the difference.
Speaker 8 (11:19):
Yep.
Speaker 3 (11:19):
So but do you think people would just panic and sell?
Speaker 5 (11:22):
I think there will be some people little panic and sell.
But you know, I mean, stranger things have happened. We
had people that panicked and sold when they lost interest deductibility,
you know, and some investors did not. And I tell
you what, the people that held on to their investments
did pretty well out of it, because even though some
(11:43):
landlords sold, what happened was a shortage of rental properties,
huge demand from tenants and its supply and demand that
pushes rents up.
Speaker 3 (11:53):
Because I mean, obviously with lack of interest deductibility, which
is a separate thing, but that's what we still don't
have an answer for. That's the thing that puts rents up.
Because you know, if it's become more expensive to be
landlord on a week by week basis, then you're going
to try and recover that.
Speaker 5 (12:09):
Rent as much as you can. Yeah, And I mean
you can only increase rents once a year, which is fine,
you know, if you've got the same tenant in place.
But yeah, I think if your costs have increased as
a landlord, you will review the rents. Whereas if your
costs haven't increased and you've got a good tenant in place,
you're probably more likely to keep things where they are
(12:31):
having said that new point at the moment most rents
are dropping.
Speaker 7 (12:35):
Yeah, and well we can dig into that in just
a moment.
Speaker 3 (12:38):
We want your cause though on the CGT, so Chris
Haipkins sort of personalized it and what I thought was
unnecessarily I can't think of the word apart from the
word BITCHI, but unnecessarily personal in his attacks. But the
CGT itself, what do you make of it? Is it
(13:00):
the worst or do you think actually CGT doesn't particularly
bother me. It's the questions around policy that frightened me
a little bit more than an actual CGT. Your reckons
eight hundred eighty ten eighty What do you think it's
going to do to the market, rents, property prices, supply demand,
the whole shebang, And let's get it started with a call,
shall we alan hello?
Speaker 9 (13:22):
Yes? First off, Chris had getten to take on the
Prime Minister for making a profit on selling his excess
properties that he had apartments and a light. People need
to realize Chris Hopkins, he personally has rental houses, but
he's chosen not to sell them. So let's just clarify
(13:43):
that has he got rental properties?
Speaker 5 (13:46):
Because my understanding was that he's got a holiday home.
Speaker 3 (13:49):
Yeah, I thought it was just a holiday home. But anyway,
he's got more than mind I.
Speaker 9 (13:52):
Understood I heard before come across the news he had
a couple of rentals in the Happy area. But anyway,
moving aside from that.
Speaker 3 (14:02):
He's got a family home in a beach house the
recent and what he said.
Speaker 10 (14:07):
This is closure.
Speaker 9 (14:08):
Okay, bear it up. I'll pull that back then. But
that bright line, that mark was shifted back after Labor
put it up. So that's why it was stolen by
the Prime Minister. He had no need for those properties
and he just sold it within the window, so it
(14:28):
wasn't a forced issue. I'm moving aside from that one.
What Labour's proposing is selective. It'll be costly for anybody
because their accountants are going to have to do work.
I'd actually propose because the country does need money, the
crown does. We all realize that. Why not just move
(14:49):
straight to a stead duty one percent across all land
building and house sales, regardless whether you got one house,
two houses, or house and a badge. If you sell
it at one day in point of time, you will
acquire one stamp duty on it, regardless and that'll fall
(15:11):
to the government. It'll be minimal work for an accountant
to work out. Nobody has to have an influence on
putting up rents or anything like that because a rental
property stays a rental property, so there's no need to
put it up. It's only going to incur it tax
when it sells.
Speaker 3 (15:29):
So basically that's your that's what you would propose if
they wanted to get a tax property in some way
would be a stamp duty, Debbie, what do you reckon?
Speaker 5 (15:36):
The problem with stamp duties is that it's the purchaser
that pays the stamp duty if they do the same
as what they've done in Australia. So that is going
to make it harder for first home buyers to get
into the market because it's an extra bit over and
above their deposit.
Speaker 9 (15:55):
But when you look at it, if you're selling, say
we take a house. You're selling your house for a
million dollars. I roll up to buy your house and
it's not going to be a million dollars plus one percent.
I'm going to tell you no, we're going to take
the one percent off the million dollars.
Speaker 3 (16:12):
You're saying it's factored into the way the market works.
Because there's so much money that goes around, it gets absorbed.
Is the argument is that, so people may be not
prepared to pay that extra one percent, but.
Speaker 5 (16:24):
There's the purchase that you still have to pay it,
and then revenue aren't going to go, oh you you
got a discount of one percent?
Speaker 3 (16:30):
Okay, well no, no, no, what they What it means is
that people will be factoring into that, and they'll be
factoring the one percent into what they're prepared to pay
for property because they know they've got that. You know,
it's like having attacks. You know, when you buy a
pound of butter, it's whatever it is, plus fifteen percent
that's built. Whether people would build that and you know
(16:50):
what I mean themselves, that's what you're saying, isn't.
Speaker 9 (16:54):
Yeah, the total price including the one percent, comes to
a million dollars for your house. Yeah, so yeah, you're
not forcing up the price on a house for a
first time owner or anything like that. It will just
become like buying a local red down the road. Eventually,
all the taxes built and on the price advertised, and
(17:15):
that's it.
Speaker 3 (17:15):
I guess you get used to any tax as the
point that Alan's also making in Australia, they get used
to stamp duty. It does paralyze those who have to
shift around a bit.
Speaker 5 (17:24):
Yeah, I don't think it'll make any impact on people
who are upgrading or downgrading their home, and I don't
think it will have any impact on property investors who
are using equity to purchase another property. But the ones
that it will impact will be the first home buyers
who've got cash deposits. Plus they'll have to come up
with another percentage to pay the stamp duty on top
(17:45):
of that.
Speaker 3 (17:45):
I think I saw the numbers on what a stamp
duty would raise and it's a hell of a lot
more effective than a capital based texas well.
Speaker 5 (17:51):
Sure, so this is another interesting thought that I.
Speaker 7 (17:53):
Have, or here we go.
Speaker 3 (17:54):
I think it's interesting.
Speaker 5 (17:56):
Look out. So what I was thinking was he's talked
about how it's going to move people away from relying
on property speculation. The issue is that it relies on
capital growth to make it work, right, It relies on
capital growth to make it work, and then it relies
on people selling their properties for a profit, so they
pay tax on that. So doesn't that make the Labor Party,
(18:20):
New Zealand's largest property speculator.
Speaker 3 (18:23):
Oh hot takes from Debbie Robins. That's something you prepared, Yes,
I prepared earlier.
Speaker 7 (18:29):
Something you prepared earlier.
Speaker 3 (18:30):
It's we're going to come back with more calls that
were lining up eight hundred and eighty ten eighty. Your
take on Labour's policy and CGT, but also taking the
party politics out of it. Do you mind a CGT
on the face of just all other taxes we pay?
Does it actually bother you? Or is it more that
there's party politics involved and trusting who's going to implement
things and you know how it's going to work and
(18:52):
all that sort of thing, which I think is probably
many people's problems with it as well. Twenty five Past
four News Talks a B Back in the Mint News
Talks a B with Tim Beverage. Debbie Roberts is my
guest Capital Gains Tax Chat. Do you like it?
Speaker 9 (19:02):
Loath?
Speaker 3 (19:03):
It? Is it the worst thing in the world? What
do you reckon?
Speaker 8 (19:05):
Mike? Hello? Ah, Hi, Yes, things good?
Speaker 7 (19:10):
Thanks?
Speaker 3 (19:10):
Sorry I should have mentioned where you're with Debbie Roberts
as well.
Speaker 6 (19:13):
Mike.
Speaker 8 (19:14):
Hi, Debbie. Look, I've been a property owner and investor
and a developer over this a few years and I've
got rid of all my properties now except for one,
which hopefully will sell soon. But my experience of owning
property is one that you don't really make much money
out of owning them if you've got a big mortgage,
(19:36):
because generally the time you pay rates, assurances, repairs and maintenance,
property management fees, all the multitude of things that go
with it, and you're interest bill, the chance that you're
making any money is putted them and slim. And the
only time you really make it is if you hang
on to your property for a long time and capital
gain does actually work for you in the end. But
(20:01):
there's also the issues that you have with tenants. And
we had a block of four houses that we bought
years and years ago, and when the labor party bought
in that or canceled the ninety day rule, we decided
it was time to get out, because when you've got
four properties in a group like that, you only have
(20:23):
to have one bad tenants and all the others go
exactly and that happened with us.
Speaker 3 (20:28):
I think what you're reminding everyone is it's actually not
that easy being a landlord. Everyone thinks that there are
people who just say you've got all that property and
you're just creaming it and it's so easy. It's money
for jam.
Speaker 5 (20:37):
Where's statistically the majority of property investors, mom and dad
investors who've got one rental, they're just trying to get
ahead financially.
Speaker 3 (20:45):
Did you think it would be easier that would be
when you got into it, Mike, what was motivating when
you bought it?
Speaker 8 (20:53):
What motivated me to get into it was to give
ourselves some form of supplementary income when we got older,
and that the whole idea was to have you say,
four or five of them, so that that would support
ourself us as plus a pension from the rent, but
the rent from it. But the more we sort of
(21:16):
spent time with it, the more we realized that actually
there's very little money, in actual cash money coming through
to us. Most of it seemed to end up going
somewhere else, like I can just do your example. The
one property we have left, we've just had to spend
about sixty thousand dollars because the bathroom flour fell out.
We had to completely redo the bathroom and we didn't
(21:38):
even know that there was a slow leak in behind
the shower. You couldn't see it and next thing we see,
the vanity is sinking like bike about ten mil and
they were wondering why. So we had to put the
take tenant out, pay for rent for another property for them,
and paid fifty odd thousand to get it all fixed up.
(22:00):
So we had a brand new bathroom, but went into
the kitchen, so we had to do work in the kitchen,
went into the lounge, so we had to let work
in the lounge that just you know, things like that
can happen and suddenly your whatever you thought might be
going to make a bit of money out of has
all disappeared. But that was a block of four and
(22:21):
we've sold three of them. But the problem we had
was when labor introduced that we rescinded the ninety day rule,
we couldn't get rid of the tenant who was causing
a problem. So we had three other tenants and other
houses that left, and the word got out. But you know,
that's not a very nice place to go because that
(22:42):
tenants are poper asshole. So we had our house expression
some time. Yeah, and in the end we decided that
the only way to do it was to say we're
going to renovate the house that she was in and
got her out through that and did some minor renovations.
But you're doing nothing and they come back and find out,
then you're in the gun.
Speaker 7 (23:03):
Yeah.
Speaker 3 (23:05):
Hey, thanks for sharing that with us, Michael.
Speaker 5 (23:06):
And the good news is that if you do spend
money on a property, you know, while it's tenanted or
you know, even before you're looking at selling it, I
would assume, but looking at what they've talked about so far,
that money that you spend on improving the property is
going to come off the capital gains the same.
Speaker 3 (23:24):
You can offset it, you mean, you can set that
well as you should be able to.
Speaker 5 (23:27):
Yeah, repairs and maintenance, and I think if they're all properly,
all properly investors budgets and.
Speaker 3 (23:32):
I think if you sell to buy, I think that
you don't pay capital gains. I'm not sure about that,
but the thing is it hasn't been very well explained,
so who knows.
Speaker 5 (23:40):
Yeah, there was some talk about a rollover, wasn't there.
So if you're selling something and then reinvesting in something
more expensive, there's no.
Speaker 3 (23:47):
Yeah he did, I think he did.
Speaker 5 (23:48):
Say, but there could be some rollover. So yeah, okay,
all right, interesting, Right.
Speaker 7 (23:56):
Let's take some more calls laws.
Speaker 8 (23:58):
Hello, Hello, how are you.
Speaker 6 (24:04):
My farming? And it's always been on here where, It's
always been on our worry list Kevin gain tests. But look,
I'm of the view now that it should be okay
if it wasn't on everything the moment you start to
identifying a group of people just house owners or commercial buildings,
excluding farmers. If it was on everybody would all depend
(24:26):
on the percentage it was. So if it was a
small amount, no one would better.
Speaker 7 (24:33):
You wouldn't be keen on farms though, would you?
Speaker 6 (24:36):
Well you would. What's the point depends on the percentage?
Is it one percent, ten percent, fifty percent? What is
that percentage? Because if you include everybody, then the revenues
who picked up exactly? Would you co creator?
Speaker 4 (24:52):
All right?
Speaker 5 (24:53):
The revenue would be a lot bigger if it was
text on everybody because the majority of people that transact
are homeowners.
Speaker 6 (25:01):
You have tried. I mean, all I can say to
that is fharmacy only land all the time and cable
games tex would be a huge impact if they were
in but everybody to do with property was taxed at
the same way, then the percent of your pets would
be very small. Yeah, absolutely, And a revenue base off.
Speaker 3 (25:23):
Yeah, I think the thought to it.
Speaker 5 (25:27):
That's a really good point. And you know, it's one
of those things if a capital gains taxes introduced, it
could become a bit of a slippery slope. You know
that if they introduced a capital gains tax at twenty
eight percent, then a few years down the track they're like, oh,
we need more, you know, so now we're increasing it
to thirty percent, and we're going to include this, and
(25:48):
we're going to include that. You know, the things that
they've excluded so far. It doesn't mean that that's off
the table forever. So yeah, like you know, for example,
the previous time they talked about capital gains if you
ran your own business from home, so if you had
a home office, then your home was included in the
(26:08):
capital gains So home wasn't excluded if you ran if
you had a home office.
Speaker 7 (26:14):
Yeah.
Speaker 3 (26:14):
Actually, I saw also seen a view that it's not
a tax that's really serious about income raising.
Speaker 7 (26:22):
It's more about.
Speaker 3 (26:25):
Driving a political wedge between what Labour stands for and
what National.
Speaker 8 (26:28):
And Act do.
Speaker 5 (26:29):
And that's how it's.
Speaker 3 (26:30):
Going to be because it's such in terms of you
really want to raise some serious income. This is not
the greatest way to do it with a CGT. It's
slow to get income. And that really what they just
want to set up a battle. It's about driving a
wedge and saying this is who we're for, and that
you guys for the property speculators and flippers and the
rich people.
Speaker 5 (26:48):
Absolutely, it's like you know, one of the comments that
Chris Hopkins said was that nine out of ten taxpayers
won't be affected, Like nine out of ten New Zealanders
won't be affected by this. I think it's even less
than that, because there's only fourteen percent of adult New
Zealanders that own an investment property, and eighty percent to
them only own one.
Speaker 3 (27:09):
By the way, just give us a stat on them.
Speaker 7 (27:11):
Now.
Speaker 3 (27:11):
This is always worth reminding people because we think of
the government through coming or or I think anyway. The
government provides housing for people. But what percentage of the
rental market is covered by private investors?
Speaker 7 (27:24):
Debbie.
Speaker 5 (27:25):
So, according to the twenty twenty three census, a third
of New Zealand population live in rental properties. So a
third of our population live in rentals. Private landlords and
trusts provide about eighty five percent of those dwellings AC
five five percent. And I know you know because I
was a tenant before we bought a home, so you know,
(27:46):
and everyone on everyone on air, everyone listening probably knows
someone who's renting or they rented themselves at a period.
Speaker 3 (27:55):
I think to know what percentage of the population have
rented at some stage, just about me, everyone wouldn't it.
I mean it's not many people get lucky enough that
they leave move house and buy their own without ever renting. Yeah,
or get given one by mom and dad, of course.
Speaker 5 (28:10):
Which would be like that would have been nice.
Speaker 3 (28:12):
But hey, look, we want your thoughts on this. We've
got lots of texts and everything. Chuck is next, but
there's some spear lines as well. It's twenty two and
a half minutes to five News Talks. He'd be yes,
Welcome back to the one roof radio show. I'm Tim Beverage.
Speaker 7 (28:24):
My guest is d W. Roberts.
Speaker 3 (28:25):
We're talking about the CGT that Labor was forced to
announce last week. Love it, hate it? What do you
think it'll do if it ever comes? And of course
there's a bigger because they do actually have to win
an election, which is that's a big hurdle.
Speaker 7 (28:39):
So anyway, let's go to Chuck.
Speaker 11 (28:42):
H right, Tim Dabby, Yes Hi, I wanted to talk this.
The way they're bringing it in, it's almost unique. They're
bringing it in with hear tabbing the money to three
GP visits a year. Well, Celia Robertson scotten article in
(29:04):
the Herald why free cares and fair care and could
worsen the house system labors playing could add four point
five million GP visits a year to a stretch system.
So I hope that the government, whether it's through Act
or National really make a point of that it's ill
(29:25):
thought of. It's not fought as well, the whole thing,
is it?
Speaker 5 (29:28):
No, And like given that Medicare card, this is something
that got up my nose. So it's going to cost
five hundred thousand dollars to produce the Medikere cards for
everyone across the country. In a day where we've got
the technology that we have and just about everyone's got
a mobile phone, why aren't they making it digital? Surely
that would be a heck of a lot cheaper.
Speaker 11 (29:49):
Yeah, I wonder if they keep their word about the
Medicare card. As you followed what they happen in Australia
old elbow held up this Medicare card. All you need
is a medic card card, not your credit card, and
that proved to be an lie after the election.
Speaker 5 (30:07):
Yeah, I mean, I think there's potential for all sorts
of different kinds of slippery slopes here. But you know,
I mean coming back to the three free GP visits
per year, which is a tongue twister. I don't go
to the GP three times a year, and when I
do need to go, I'm quite capable of paying for
that myself. So why are they offering it to everyone?
Speaker 3 (30:26):
So actually, chuck, just CGT, just at per se, just
a CGT without getting caught up in party politics. Do
you mind it a lot?
Speaker 7 (30:36):
Not much? What do you reckon?
Speaker 11 (30:39):
I minded a lot. It's that one one group of
wealthy people they'll get voting for it. That's tax lawyers
and accountants and will make things very messy. And they've
already they already tell half truth. They say that your
shares won't be taxed. That's half true. I've got shares
(31:00):
and various things. One is property for industry, that's factories
in that that share well.
Speaker 3 (31:07):
No, no, no, that the property that that that generates
the income for that company will be taxed, but the
share your share price will not be taxed. I think
you know that.
Speaker 11 (31:18):
Well, let's see what DeBie thinks. The share proce itself
won't be taxed, but it will mean owing shares in
that particular and companies that have property that will reduce
your dividends.
Speaker 3 (31:35):
Sure, well, well yeah, but that's tax on on in
a stage before the share price itself. But I know
what you mean, cha, yeah, hey, Actually, just before we
go to Steve, I'll read a text out from Dallas
who says I was hoping for a more objective take
on CGT rather than just fear mongering about what the
sneaky Labor party might or might not do. And I
(31:56):
acknowledge your text, Dallis, But you see Labour's Earn't that
Labor has earned that suspicion because of its, you know,
dishonest way that they thought they would say, we're not
going to remove interest deductibility, it won't affect rents. I
think labor has earned the suspicion that we attached to them.
Speaker 5 (32:16):
Yeah, And I mean, like I said it right at
the beginning, I'm not against a capital gains tax because
it's pretty easy to avoid. It just don't sell right. Well,
so it's but the thing that annoys me is the
way that they're promoting this, like they're literally marketing this
as a way to tax the wealthy to you know,
(32:37):
to pay the healthcare for the proble. But that's not
what the reality is. The reality is that most investors,
mum and dad investors, and most of the people, like
two thirds are the people that are going to get
these free healthcare visits GP visits, don't need it.
Speaker 7 (32:54):
I also think that.
Speaker 3 (32:58):
The fact that something's going to get taxed has never
been a disincentive to people investing in something. Otherwise I
wouldn't turn to work. I don't turn up to work
to them because they're going to pay you and you're
going to get text on what you were in. And
it's like, I still turn up to work because I
want the money. If I can make a million bucks
and property in the next fifteen twenty years.
Speaker 5 (33:16):
And you're going to get and you're going to still
going to be a twenty eight million, you're still going
to make seventy two million, No.
Speaker 3 (33:23):
Twenty eight two hundred and eighty thousand.
Speaker 5 (33:25):
Right, Yeah, would you trust this financial advisor. Oh my god,
I didn't get much sleeper.
Speaker 3 (33:31):
A few that one. But I think we knew what
you meant.
Speaker 7 (33:34):
You were assuming I was going to make a billion.
Speaker 3 (33:36):
That's what you've just misheard me say million. Maybe I
have a cold.
Speaker 5 (33:39):
Don't make a billion for me. It was a slip.
Speaker 3 (33:44):
Right, Let's go to Steve.
Speaker 9 (33:45):
Hello, Hey here, you guys going good.
Speaker 10 (33:50):
I'm sorry, I was just I just wanted to understand
what's the difference between what they're proposing and the Brainlan
test at the moment, So is it any is it
different or literally going to to just affect like people
that personally own rental properties and when they sell those
have to pay tax. Yeah, major difference.
Speaker 5 (34:12):
So the major difference is that the bright line is
it's got a timeline. So it's a two year bright
line period. So if you tell if you sell your
property within two years, you pay tax on that. This
capital gains text. There's no timeline.
Speaker 3 (34:27):
It's like the bright line test for where the period
of time is infinite.
Speaker 10 (34:32):
Yeah, yeah, okay, so you're basically just remembering the bright line.
So if you own a property that's not your home
and you sell it, an income with data traditor's income.
Speaker 3 (34:42):
Yes, not your home, your family home.
Speaker 10 (34:46):
But like any other your own that's right. And sure, okay,
so it's not going to really affect it's I'm going
to affect the investors. It's not going to affect like
flippers or developers or anything like that, because we already
pay text.
Speaker 3 (35:00):
Absolutely are you Are you a developer or a flipper?
Speaker 10 (35:04):
Yeah, So here's an So he's an I already pay,
already pay tax, so it doesn't affect me whatsoever at
least I start holding, and then when I sell, I
pay tax, but I have to anyway, I'm harnished as
a developer. I just it doesn't affect me at all.
Speaker 5 (35:23):
So he's an interesting thought though. If if the capital
gains tax is twenty eight percent and you pay gest
plus tax on profit, if they bring in this extensive
capital gains tax and that incorporates what you do as well,
you're going to be better off.
Speaker 10 (35:41):
Yeah, I'll be better off. Yeah, yeah, because I mean
I just pay. I just pay company tax, so they
can't they can't bring it in the slot. Yeah, it
doesn't stay me. Yeah, I just take company tax. Like
if I develop and I've got say half a miment
or some profit. I either leave the money in the
business pay company tax, or I disburse the funds to
the shareholders and they pay their own personal tax, so
(36:03):
it doesn't affect me at all.
Speaker 7 (36:05):
Developing game by the way, all right.
Speaker 10 (36:08):
Yeah, Catery, Yeah, yeah, pretty good. Yeah, Precious is a
good place to do it. Someone's a good place to
do it.
Speaker 7 (36:13):
Good stuff.
Speaker 10 (36:15):
Why not so much? The development contributions out there are horrendous.
Speaker 3 (36:20):
Yeah, okay, okay, good good stuff. Cheers, mate, Thanks Steve.
We'll be back in. Hang on a minute. Yeah, we'll
be back in. We'll be I know, we're just going
to go to David. Hang on a second. I'm just
getting instructions from my from the boss out in there
in the booth there, David.
Speaker 9 (36:37):
Hello, oh hi, just so quickie.
Speaker 4 (36:42):
I'm thinking about this capital gains tax and symmetry, which
is normally kind of a principal and tax. If I
if I buy a property and then sell it at
a loss, is that loss text aductible Apparently not.
Speaker 7 (36:57):
What do we know, Debbie, they have.
Speaker 5 (37:01):
Yeah, they haven't made that clear as far as I
can see, But what they have said is that there
could be some rollover relief. So it depends on what
that rollover relief looks like. You know, if you sell
one property at a loss and you own other properties
in the same entity, then potentially you'll get that as
rollover if you sell the other one.
Speaker 7 (37:24):
But who knows, Well, we don't quite know.
Speaker 4 (37:27):
Yeah, okay, Yeah, it's quite a big game.
Speaker 5 (37:31):
There's a lot of questions around this. I think so yeah,
And I think my opinion is they could have they
could have announced this much smarter without it sounding like
an Envy Tex.
Speaker 6 (37:43):
You know.
Speaker 3 (37:44):
It's yeah, actually you're right in terms of that, but
also in terms of the timing, and they probably agree
with you that they didn't really mean to launch. But
it's out there now. Hey, thanks David. I've we've got
to go because we've got to come back with the
property a week, which is in just a moment.
Speaker 1 (37:56):
It is ten minutes to five, the one roof property
of the week on the Weekend Collective.
Speaker 3 (38:05):
Yes, the one roof property of the week is it's
in Wellington today and so it is in Candalah, which
I think we've picked Candala a few times. It could
be a favorite suburb of my producer tire because I
think she's picked a couple of Candala properties. Mind you,
there's a reason that she would have picked a couple
of Candala properties because it is a rather nice suburb
and in the right place. The views are absolutely magnificent
(38:26):
and this is well yeah, I mean the views are stunning.
It is fourteen Shalimar that's Sha l Imaar Crescent in Candala.
Six bedrooms, three bathrooms, three car parks. Importantly, the house
is Now think of how big your house is. I
think our house living area is about one hundred and
fifty square meters. There's this one is three hundred and
(38:49):
forty five square meters on almost seven hundred square meters
of land. It's only recently built, it's a couple of
it's only a year old, and it's for tender, which
I hate. You think of it, Debbie Roberts. What do
you like tenders?
Speaker 7 (39:02):
I haven't given the price.
Speaker 3 (39:03):
Yet, but do you like tenders?
Speaker 5 (39:04):
Well on how much you know about the area, because
like a tender is basically you make an offer and
see what happens, so you know, it's a bit like
price on application and all that sort of stuff as well.
Speaker 3 (39:15):
Although in terms of what you're getting banged for buck
and I don't want to look in Auckland quite ordinary
properties can be still worth one and a half million,
two million bucks. And I don't mean that in a
snobby way, but for an Aucklander you'd be looking at
the going. Goodness me it is because looking at this's
got a lovely pool, a beautiful deck with amazing views.
(39:36):
It's on looks like a couple of looks like it
almost looks like it's on three levels, I think, isn't
it from the pictures I've got?
Speaker 5 (39:42):
And it's got a lift as well, doesn't it modern?
Speaker 3 (39:45):
Beautiful sort of concrete walls.
Speaker 7 (39:47):
It's got an elevator, I think, just for that.
Speaker 3 (39:51):
But it's r V. It's estimate, should I say, is
two point one two million dollars? I want to say
if that were in Auckland, it'd be about five depending
what suburbits and what did you how would you describe
the property?
Speaker 5 (40:05):
Yeah? I think there's literally something for everyone in that one.
It's a beautiful spot, amazing view.
Speaker 3 (40:10):
What do you look for in an open home or
if you're looking through pictures, what's the go to room
that you think I need to see? What the deck
or the lounge or the entertainment area or the walk
in wardrobes which this thing has. It could be a
spare bedroom just about sometimes walk in wardrobe.
Speaker 5 (40:27):
That one's huge, isn't it Like? It depends on what
I'm looking at buying it for. If it's for an investment,
for a home.
Speaker 7 (40:33):
For Demie Roberts to hang out in.
Speaker 5 (40:35):
So it was the kitchen in the outdoor area that
had potential that sold me on our current home.
Speaker 3 (40:41):
There we go, and what about this one? Would this
sell you on the outdoor living for this one?
Speaker 5 (40:46):
Climate Scott, Yeah, that could be another bedroom possibly as well.
I think the swimming pool's nice.
Speaker 3 (40:53):
Anyway, go and check it out the what's the address
again on the wonder if website It's fourteen Shlima Crescent
in Candallah. By the way, thank you for all your texts.
If the texts are anything to go by, there's a
lot more selling of this policy that label needs to.
Speaker 7 (41:07):
Do to get it over the line.
Speaker 5 (41:08):
I think, Debbie, Yeah, I think so more detail needed.
Speaker 3 (41:12):
Check out Property Apprentice.
Speaker 7 (41:13):
That is.
Speaker 3 (41:14):
Debbie Roberts will be back with the Parent Squad as
next news talks.
Speaker 1 (41:18):
Edp for more from the weekend collective listen live to
news talks edb weekends from three pm, or follow the
podcast on iHeartRadio
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