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Manakau property tax doomed to fail – REINZ

Thursday 2nd of August 2007

The Real Estate Institute has slammed the proposed Real Estate Transfer Tax, with president Murray Cleland saying it goes much further than a capital gains tax, which taxes “only the difference between purchase price and sale price. This taxes the entire proceeds. As such it is an extension of current rating imposts, effectively a ‘double tax’ on householders for services prov...

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