Friday, 22 February 2019

22 February 2019

So much has been said about the negative effects of a Capital Gains Tax by far more eloquent and knowledgeable persons than me, that I thought I’d give a personal perspective.

I’m 55 this year, single, and working hard to pay off my mortgage before I retire.  I have a small nest egg of savings as well, but realise that in order to do anything more than just ‘exist’ on the pension once my working days are over, I need to make an investment to help fund my retirement.

With the equity in my modest home, in which I intend to live until I shuffle off to the retirement village, I had planned to purchase something like a rental property. I’d pay tax on the income off that property, but also have to spend my savings making improvements, as well as spend many hours of unpaid time and effort managing and maintaining it myself, to make it pay its way.

Why would I do this now, if at the end of it, I will be penalised with a Capital Gains Tax?  The return will barely be worth it.  Might I be better off to use all my savings enjoying my first real overseas excursion, then return and claim maximum government benefits while on the pension?

For this reason alone, I feel very sad and uncertain about my financial future, and that is one less rental available for a low income family to inhabit.

Check out and donate to ACT’s anti-CGT campaign here.


My friends in the Taranaki tell me they’re also feeling equally sad and uncertain about their financial future. The government’s ban on oil and gas exploration will affect their businesses, and future, in Taranaki.

Economic consultancy NZIER has found the policy could cost the economy up to $30 billion by 2050 and cost 3000 jobs but will have an “undetectable” contribution to reducing global emissions.


Top bloke Mike King is our New Zealander of the year, and well deservedly too, for raising awareness of mental health issues, so this is without criticism of the many friends who have added a ‘frame’ to their Facebook profile picture this week. It’s a promotion by Kiwibank, who will donate $1 for every frame downloaded to Mike King’s charity I Am Hope. I can’t help but be a little cynical, however.  In a classic case of virtue-signalling, users of this frame are feeling good about themselves by giving away someone else’s money.  Don’t get me wrong – it’s a noble cause – but why not just donate your own money directly if you genuinely support this charity?  Brilliant piece of viral marketing though and relatively cheap for Kiwibank too.

Things I don’t care about this week…

It’s chocolate!!  Make no mistake, I care very much about chocolate, but not what colour it is or what those colours supposedly represent to the eternally outraged and offended.

Batten the hatches for Cyclone Oma and take care of yourself and property this weekend.

Beth Houlbrooke

Deputy Leader / Vice President  

Support Us

for free speech, free trade, smaller government, lower taxes

Share Beth's Ad Lib with a Friend

They can sign up here