Archive for the 'Tim Manning' Category

Property Developer’s Guide on How to Increase Productivity and Better Manange Your Time

We have all heard the saying ‘time is money’. How well do you manage your time? If you are not creating the space to work on your investments in your day-to-day life, then the financial return is not going to be so rewarding.

So what are the challenges to managing our time?

Most of us simply don’t have a system to handle the emails and tasks that bombard us daily.

We aren’t prioritizing our workload, meaning often the reactive and non essential stuff takes up a lot of our day; suddenly we look at the clock and we have spent two hours faffing around on a task that we probably shouldn’t have even been doing in the first place.

The ‘non work’ stuff, e.g. like managing your investments doesn’t get done during the day, so you end up looking at it later on, in the evening, and then you are feeling exhausted and resentful about doing anything.

If we don’t keep this in check, we not only end up missing out on great opportunities (e.g. taking the time to see what’s available on Ifind) but we can miss doing some essential stuff too.

So, just how should you manage your to-do-list?

Up until a year ago, I used to simply have a journal, where daily, I wrote down what I had to do, crossed out what I got done through the day, and then recreated a new revised list the following day.

Whilst at some level, it felt like I had a handle on things, I was risking simply forgetting some pretty important stuff. It also was a bit time consuming, particularly when I had a lot on.

The next iteration of managing my to-do list was popping everything on Evernote, which is a cool web-based note app. But there were challenges with syncing between my phone and app and there was no real structure to it.

I finally feel that I have got it nailed…

and now, like an ex-smoker, or someone who had dropped 15 kilos on Paleo, I just want the world to know, because it has seriously changed my life for the better!

Firstly, I engaged a productivity expert (hiring an expert is always a good thing to do when you want to cut through stuff that isn’t working in your life). He got me to approach this conundrum of to do lists as follows:

Find a productivity framework that suits

Choose a productivity platform that suits

Set up your to do list accordingly

This has just made so much sense to me! The productivity framework I chose was Dave Allen’s Get Things Done (or GTD). I know some people who say that there are more sophisticated frameworks available, but for me, this is perfect.

Essentially, all you need to do is;  

Get everything out of your head, and on to a list. This supposedly really helps our stress levels, particularly when we are are awake at night, and worrying about stuff. Just keep thinking of what you need to get done.

Chunk them into an overall pattern that works for you, including projects and tasks. For example, ‘write a book’ is a rather massive (and overwhelming) task. Better to assign it as a project, and then have sub headings like ‘book overview, title name, decide publishing route etc underneath. Dave Allen talks about a ‘someday/maybe’ folder which is really good for those bigger ideas which you come up with, but don’t want to lose sight of.

Think about ‘what is the next action moving forward?’  This just means that you don’t get overwhelmed by the enormity of something, and focus instead on what you need to do next.

Use the two minute rule for small tasks. If sending someone an invite to a meeting (e.g. while they are on the phone with you) is going to take 30 seconds, then don’t spend 20 seconds adding it to your to do list, just get it done!

Schedule non negotiable time for a weekly review. This is brilliant.  You simply look at your plan and think about what you can add, delegate, defer or delay. Last thing on Friday is a cool time to do this because you can kick into the weekend knowing you have things handled!

Once you have done this, (and believe me, it is not that onerous a job, I am thinking two or three hours and SO worth it), then find a productivity app that works for you. Some of the apps available (including on iPhone and Android) are Todoist, Asana and Nozbe. I have chosen Nozbe, and I love it!! It syncs beautifully with my phone and I can keep short term stuff that doesn’t need to be assigned a project to my inbox. There is a wonderful priority system ( you just click on the star for top priority and it shows up in your priority list) and the time scheduling and collaboration elements (I have a virtual assistant in the Philippines I assign tasks to) are super slick.

Does this all sound a bit too hard? Like so much in life, I delayed getting around to implementing a productivity system that works, but seriously, this has just changed my life so much for the better. These apps cost a few dollars a month, but give you so much control over your life, and for ifind subscribers particularly it may result in some fantastic financial gains, simply because you have been able to assign more time to your investment portfolio! Just give it a go!

March 27 2019 | Productivity & Time Management and Tim Manning | No Comments »

Developer helps fund aid to Fiji’s Poor

NZ Herald – Article by Simon Collin
Published on 29 Jan 2007

A property developer who built some of Auckland’s biggest “leaky home” developments, Tim Manning, has agreed to sponsor a local version of Bob Geldof’s Make Poverty History campaign to relieve poverty in Fiji.

Annie Hensby, an Auckland mother who organises comedians, clowns and other performers in schools, collected four tonnes of medical supplies, books and other goods for Fiji through benefit performances last year.

She appealed to the public just before Christmas to cover a $1700 shortfall in the cost of getting the goods to Fiji. A company majority-owned by Mr Manning, Pacific Islands Partnership, then paid for Ms Hensby and her Fiji-born partner, Kavai Velavela, to fly to Fiji to distribute the goods.

They delivered the supplies this month to two schools and to children in seven villages in the Tailevu district of the main island, Viti Levu, and the Wainunu district on Vanua Levu.

They now plan to register “Performers 4 Poverty” as a charitable trust and to work fulltime on organising more benefit performances for Fiji.

“Pacific Islands Partnership is our main sponsor. When they heard about what we are doing they said, ‘We want to get behind you’,” Ms Hensby said.

A minority shareholder, former All Black Eric Rush, said the company was formed a year ago to develop a resort on Viti Levu.

Mr Manning‘s former company, Taradale Holdings, was involved in several projects that have had weathertightness issues, including Sacramento at Botany Downs, Ponsonby Gardens, West End in Grey Lynn and The Grange at Albany.

Last September, he sold the partly completed Whisper Cove housing project at Snells Beach to a Sydney developer for $215 million. Mr Rush said Fiji was now pretty close to the hearts of Mr Manning and his associates and he was not surprised that they were backing Performers 4 Poverty. “They are in a position to do something about it and that’s what they are doing.”

Ms Hensby was horrified by the poverty she saw when she visited Fiji for the wedding of Mr Velavela’s brother last year. She saw children with no shoes, covered with open sores, living in “tin shacks” without power, books or toys.

Schools were “worse than in Victorian times” – long wooden benches with virtually no resources. The school she visited in Wainunu went only to Year 10 because there was no money to go further.

People lacked basic knowledge about health matters such as diet. “We met so many people with very early-onset heart disease. A lot of the women have their legs amputated from diabetes. Everyone is just eating lots of taro,” she said.

She and Mr Velavela provided books for the schools and handed out two books, two toys, clothes and shoes to every child in the two districts.

“Kids were walking away with as much as they could carry,” she said. “The parents were in tears of happiness. The kids were squealing with delight.” Ms Hensby plans to ask local theatres, musical groups and other performers, as well as her school entertainers, to donate the proceeds from one show a year to the charity.

Three shipping companies – Neptune, Reef and Oceanbridge – have offered to ship supplies to Fiji free.

The charity hopes to provide villages in the two Fiji districts with more books and medical supplies, gas cookers, shoes and gumboots, teach the Fijians how to create soak holes to drain mosquito breeding sites, and fund an ambulance and a small power station.

Source:  https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10421411

 

March 26 2019 | Tim Manning | No Comments »

How to Save for Your First Home Loan Deposit

If you want to get yourself a little slice of the real estate market and have a place you can really call home, a place you can decorate as and when you see fit, then you’ll have to start saving. There are some grants you can get to help, but you’ll need a lot of money to serve as your 10% deposit. Here are some tips on how to save for your first home loan deposit.

 

Save 10% of your Paycheck

This is one of the oldest tips in the book, but it’s stood the test of time because it works. Adopt a mentality of paying yourself before paying anyone else. A good way to help with this is to open a separate savings account with a different bank so that you have more trouble accessing the money. Then take 10% of each paycheck and put it through into this new account. You may need to miss out on a few luxuries but you’ll save a lot of money and it will all be worth it.

 

Sell your Unwanted Stuff Through eBay

Sites like eBay offer the perfect place to get rid of all your unwanted things and get your hands on some money. Whether you’re selling your old curtains, the music you don’t listen to, or your old clothes, you can generate a lot of money from eBay in a short amount of time. How much you make depends on what you sell of course, but you could be looking at hundreds, if not thousands of dollars.

 

Pay Off Your Debts

Paying your debts isn’t a savings tip in the classic sense of the word, but it does help you save money because there’s no interest payments. There are two reasons you should pay off your debts; it increases how much money you are able to borrow, and it gives you more money to pay off your mortgage payments. Start budgeting now to get rid of your personal loans and credit card debts before getting a mortgage that leaves you with hundreds of thousands to pay off.

 

Get Rid of Luxuries

While it’s not fun to tighten the purse strings, it is an effective way to save money. Get rid of the luxuries, or downgrade them when you can, and put the extra money in your savings. You don’t need to get rid of absolutely everything though. Slowly get rid of one luxury a month and pocket those savings. By the end of a year you could have saved thousands.

 

Get a Part Time Job

If you’re really serious about saving for a home deposit and you can’t stretch your budget any further, then you may want to consider part time work. Working a few evenings a week could grab you a lot of extra money in your account. Babysitting, tutoring students, teaching English, or doing some freelance work are solid examples of what you could do.

 

There’s never been a better time to take out a mortgage thanks to all the great rates on offer. Be sure to compare rates from different lenders before making a choice.

 

December 01 2018 | Saving Tips and Techniques and Tim Manning | No Comments »

Timothy Manning linked to Fiji Casino Development in National Business Review NZ

Extract from NBR Article:

” ‘Manning syndicate backs Fiji casinos’

David Williams

Auckland Property Developer Tim Manning is leading an Asian syndicate backing Fiji’s ambitious $US200 million casino project.

NBR first linked Mr Manning and Singapore based Nico-Franken, to the project in June. Mr Manning confirms the deal this week, which sees his company HGW International take a 50% stake in the casino developer One Hundred Sands and Mr Manning and Norwich Properties general manager Brad Worthington join the board.

The Casino Project involves two sites – near Nadi and Suva – with the former site featuring 250 slot machines, 40 tables, a 1500 seat convention centre, a Hotel with up to 600 rooms, bars and restaurants.

A development site near Denarau Island should be confirmed next month. “We’ll be building in the first quarter of next year quite easily.” he says.

Mr Manning will not say where his syndicate investors are based, or how many there are, and is coy about his own financial involvement in the project.

He’s confident a deal can be struck with Fiji’s government over $US100,000 monthly penalty payments.”

 

For the full article go to: http://www.nbr.co.nz/article/manning-syndicate-backs-fiji-casinos-149946

December 26 2013 | Tim Manning | No Comments »

Tim Manning comments on Swiss-Bel Queenstown

Norwich Properties and Tim Manning – New Zealands most experienced property developer is thrilled to have engaged Swiss-Bel as the operator or its latest Hotel in Queenstown. It plans to work with Swiss-Bel to roll out further hotels around New Zealand to complement their 120 hotels in Asia to date. Tim Manning likes doing deals with Kiwis, especially successful ones and Tim is very excited about the partnership of Swiss-Bel Resort Queenstown.

Swiss-Belhotel rebrands ski resort in New Zealand

TTGasia – Article by Hannah Koh, Queenstown,

Published August 22, 2013

SWISS-BELHOTEL International will take over the management of Coronet Peak Hotel and rebrand it as the company’s first New Zealand property, the Swiss-Belresort Coronet Peak.

The upscale resort is situated within the ski playground Coronet Peak and was previously running under independent management.

Swiss-Belhotel is set to fully rebrand and launch extensive upgrading on the property to meet four-star standards, and will add extra conference and meeting space as well as outdoor hot tubs.

Swiss-Belresort Coronet Peak general manager, Marcus Kennan, said the resort would remain operational throughout the refurbishment process. “We are lucky we can close different accommodation wings of the hotel and carry out work, without impacting the guests staying with us. Total scheduled completion date is the end of March 2014.”

Gavin Faull, chairman, president and owner of Swiss-Belhotel International said in a press release: “Swiss-Belresort Coronet Peak Queenstown is the closest resort to the Coronet Peak ski field and this lends an exclusivity that is perfect for well-heeled international travellers and aspiring skiers and snowboarders.

“Queenstown is an immensely popular destination in both the summer and winter months, with June to September seeing droves of snowboarders and skiers descend upon Coronet Peak’s 280 skiable hectares and extensive, state-of-the-art snowmaking installations…This guarantees a long season.”

The resort offers 75 rooms and a range of leisure facilities including a spa and sauna, pentaque, volleyball, croquet, badminton, ski waxing and drying rooms, Queenstown’s only ten-pin bowling alley and an après-ski restaurant and bar.
Online article at: http://ttgasia.com/article.php?article_id=21568

August 28 2013 | Property Development and Tim Manning | No Comments »

Tim Manning Recognizes Property Values Still Climbing – Especially in Auckland

New Zealand property values continued to rise in April to be 4 percent above their peak of late 2007 as Auckland again recorded strong gains, according to state valuer Quotable Value.

National property values increased 1.3 percent in the three months ended April 30 to $431,967, the same pace as in the three months through March. Values have gained 7.1 percent over the past year.

Property values in greater Auckland climbed 12 percent to $628,205 in the latest 12 months and in Christchurch they rose 9.4 percent to $418,829, though growth across all main urban areas was relatively strong, rising 8.8 percent to $495,488.

“The increase in nationwide values is now being driven by all the main centres, not just Auckland and Canterbury,” Kerry Stewart, QV operations manager, says.

“Buyers are showing more optimism and confidence, although are still being careful in their decision making. The exception to this is in parts of Auckland, where demand is so high that there is little opportunity to delay making offers.”

The figures come a day after the Reserve Bank said in its financial stability report that it is preparing to impose limits on high loan-to-value home mortgages, which could pose a significant risk to country’s financial stability.

“Further price escalation will worsen the potential damage that could result from a housing downturn following an economic or financial shock,” governor Graeme Wheeler said yesterday.

The QV figures show Wellington house values were 2 percent higher than a year earlier, and Dunedin property values rose an annual 4.8 percent.

Source: http://www.nbr.co.nz/article/property-values-still-climbing-%E2%80%93-especially-auckland-wb-139889#.UYs1OweCpD8.email

May 13 2013 | Tim Manning | No Comments »

Auckland Council “Loot Sharing” Plan Slammed

A property developer has spoken out against Auckland Council’s plan to tax increases in the value of land from rezoning or redevelopment. The council’s proposal for “shared land value uplift,” buried in an addendum to the mammoth Auckland unitary plan, is a tool the council is considering for “enabling affordable neighbourhoods,” the document says.

“A number of countries provide scope for local councils to obtain part of the land value uplift from landowners when land is rezoned for more intensive use for example, rezoning from rural to urban land use or rezoning from a low to a higher density).” The revenue generated could be used to develop affordable housing or to fund infrastructure and amenities, the document says.

But Auckland-based property developer “Tim Manning says taxing land value increases would make development more expensive and drive it out of the city to other regions. The proposal ignores that getting land rezoned can be an expensive process, including holding costs such as interest payments if there is debt, he says. “You have really got to work at this; you need to hire planners and planning barristers, do traffic reports and impact assessment reports to show this land is better off residential than commercial or rural.”

The real problems are the small number of large developers, the lack of land available for residential subdivision and the tight supply of funding, Mr Tim Manning says.

Councillor Cameron Brewer says there would be “enormous contestability and difficulty” in accurately calculating a property’s new value after rezoning has taken place.

Source: http://www.nbr.co.nz/article/auckland-council-%E2%80%98loot-sharing-plan-slammed-nk-p-138395

May 06 2013 | Tim Manning | No Comments »

Tim Manning Views on Council Accused of Capital Gains Bid by Stealth

Auckland Council is eyeing taking another slice out of rising property values and may seek a change in the law to do so.

The council is calling the proposal “shared land value uplift” but its critics are blasting it as a thinly disguised capital gains tax.

And if Auckland proceeds with the plan, it could open the door for other councils to follow and broaden their revenue bases.

The proposal is contained within an addendum to the council’s draft Auckland Unitary Plan, which is likely to result in zoning changes that would allow higher-density housing in many parts of the city and possibly also extend the city’s urban limits.

Properties that have their zoning changed from low density to high density housing, or rural properties on the city’s fringes that are rezoned as urban, allowing housing or commercial development, would almost certainly benefit from a significant increase in value.

“At the moment in New Zealand, any increase in land value resulting from the rezoning decision remains with the landowner,” the council’s draft plan states.

But under its “shared land value uplift” proposal, the council would be able to take a slice of those capital gains. It outlines several possible ways the council could obtain money from owners or developers whose properties were rezoned.

These could involve the council negotiating with developers on a case-by-case base over the size of a fee they would pay, or introducing a uniform across-the- board levy.

Alternatively the council could estimate the likely profit a development would produce and how much of that was due to zoning changes, and then negotiate with the developer to retain a portion of the profit.

The council could also directly acquire land that was to be rezoned, and on-sell it to developers at a profit once rezoning had taken place.

Possible uses of the money raised could include spending on infrastructure projects or providing affordable housing.

However, Property Council NZ chief executive Connal Townsend sees it as a tax grab.

“This is a capital gains tax,” he said. “One needs to be very cautious about arguments that this would have benefits for housing affordability. I don’t buy that for a minute.

“I think this has been dressed up in housing affordability arguments without any real analysis. I think really what it is, is an attempt by the council to tap into another revenue stream. It’s a capital gains tax and I expect it would be very inefficient.”

Townsend believes that instead of making housing more affordable, it will ultimately make it more expensive, because it would add an extra cost to each development.

Property developer Tim Manning also said the proposal would push up housing costs.

Manning’s company, Norwich Property, has built around 2000 homes throughout the country, many of them the types of higher- density developments such as terraced housing and apartment blocks which the Auckland Council is trying to encourage.

“It’s another layer of costs and those costs have to be worn by someone and eventually it’s the end purchaser,” he said.

“They [the council] think turning a bit of farmland into a residential development is easy. But you’ve got to get umpteen dozen reports, you’ve got to consult neighbours and often pay them money.”

Often developers had to hold land for five or six years and pay interest costs and other expenses, sometimes millions of dollars, with no certainty, he said.

“You could get to the end and the Environment Court says no, and then it’s goodbye. You are left with a bit of land that’s worth half as much as you’ve already spent.

“So if you can get it over the line you’ve got to be rewarded for that because it’s so bloody hard to do. For such a high risk there has to be an upside for the developer. Otherwise why would they do it?”

Auckland Council’s manager of financial policy, Andrew Duncan, said the council was still preparing a financial assessment of the proposal, to help decide whether to proceed.

“I think the council would want to think about how such a mechanism would affect the housing market and land market and developers and what sort of revenue might be involved. And then, if it wanted to think about it further, it would want to think about how it [the money raised] could be used,” he said.

However, before the policy could be put into in to effect the Local Government Act would need to be changed and if that happens, it would allow other councils to adopt similar policies, potentially opening the door to a capital gains cash grab throughout the country.

Townsend believes the current Government is unlikely to support the necessary law change. “We know this Government has no appetite for a capital gains tax.”

Source: http://www.stuff.co.nz/business/industries/8580431/Council-accused-of-capital-gains-bid-by-stealth

May 01 2013 | Tim Manning | No Comments »

Power Price Data Shows Hypocrisy of Labours Claims

Labour and the Greens launch their electricity policy later today, and if the drought had not already broken the deluge of crocodile tears from opposition MPs would have done the job.

Expect to hear much about high power prices and their impact on the less well off when Labour leader David Shearer and Green co-leader Russel Norman announce their power prices policies.

The difficulty they face is the largest sustained household price increases for a generation or more happened between the end of 2001 and the end of 2008.

To get some comparison, look at the graph, compiled from Statistics New Zealand data.

In the 11 years to the final quarter of 2001, household electricity prices rose 47%. That was still above the compound rate of inflation over that time (21.2%) — but nothing like what was to follow.

In the seven years between the final quarter of 2001 and the final quarter of 2008, household power prices rose 63.5%. Over the same period, the compound rate of inflation rose 21.0%.

The reason for picking the final quarter of 2001 is because this marked a turning point in electricity prices — for households, as well as for businesses.

High in Labour and Green party demonology on electricity is the reforms of National’s late 1990s Energy Minister Max Bradford.

These chopped the old Electricity Corporation into four companies, split the industry between lines companies, generators, and retailers, and sold off Contact Energy.

Bitterly attacked

The changes were bitterly attacked, and when the government changed in 1999 Labour Energy Minister Pete Hodgson promised a more “active management” of the portfolio, with lower power prices.

There was an inquiry into the sector in 2000, with much consultation and much talk about “long-term thinking”.

As can be seen from the graph, this is not quite what happened. After a period of quiescence, households started to be hit with much higher power prices. Commercial electricity rates turned upwards as Well.

Taking place as they did three years after the Max Bradford reforms took effect, and two years after a change of government, it is a little difficult to see how these were much to do with decisions made in 1998.

To be fair, there were demand factors pushing up prices -the biggest being the high rate of conversions of former sheep and beef farms to dairying. Milking sheds, operating six or more hours a day, use quite a bit of electricity.

But the biggest factor was an aggressive dividends policy from 2002-07 dividends from the main electricity Companies averaged, in total, slightly less than $500 million a year.

So todays talkfest from the opposition parties is going to be so much hypocritical handwringing about the effect of higher power prices on the poor.

Lt would not be so nauseating if Labour had not been prepared to gouge those same poor with historically high power prices so as to fund the large, Statist empires in Wellington.

That though does not let the current government off the hook. Household power prices are still rising above the rate of inflation. Yesterday’s Consumer price index showed benign inflation of 0.9% but power prices up 5.2%.

It is not a one-off: household power prices are still rising above the rate of inflation. Since the end of 2008 they are up 15.6% when compound inflation is up 9.2%.

But it is still nothing like the power price gouge which took place between 2002-08.

Source: The National Business Review

April 19 2013 | Tim Manning | No Comments »

Capital Gains Taxes: Myths, Misconceptions and Lies

The country is going through another bout of bumper sticker economics over a capital gains tax.
With the Auckland property market performing its well-known impression of a runaway circus elephant whose keepers have shoved a cocktail of speed and hallucinogens into the feed — and with the New Zealand dollar also having one of its periodic bouts of hyperkineticism the calls have gone out again for such a tax.
The latest push seems to have been fuelled by Labour leader David Shearer’s claim on television that a capital gains tax would cause people to put more money into businesses.
As an example of muddled economic thinking, it takes some beating and it is worth quoting Mr Shearer in full:
“What I’m saying is that what we need to do is to grow the economy in a way that it’s not growing at the moment, and we’ll be talking about Tiwai Point in a little while … one of the big problems about— no, no, let me finish — one of the biggest problems about that is that the exchange rate is so low that we are seeing many of our businesses actually going out of business because they are not being able to succeed.
“We’re not putting our money in the profitable sector; it’s going into the property market because we don’t have a capital gains tax that will help us direct money into those areas.
“And if you are wanting to raise money, then at least put money into businesses — invest in businesses through the incentives of capital gains, and that brings, obviously, money into the government as well.”
Leave aside for the minute that Mr Shearer is under the strange misapprehension New Zealand’s exchange rate is on the low side. Even though it attracted quite a bit of negative comment, that part is not the most important part of his comment.
The more important parts are the claim that New Zealand is not putting money into its profitable sector, and that a capital gains tax would mean the country would start doing so.
None of those claims are true.
First, capital investment in New Zealand has held up remarkably well, despite some tough economic times.
Furthermore, residential investment has actually fallen.
Not what you’ve heard?
Then take a look at the figures from the most recent GDP figures, released last month.
Overall business investment rose 5.4% last year, dominated by 7.6% rise in investment in plant machinery and equipment.
And residential investment is now only14.4% of total capital investment in New Zealand in 2007 it was 20.4% of total capital investment.
In other words, a major shift in investment is happening. The notion that New Zealand firms are being starved of investment because of the absence of a capital gains tax simply is not true.
Not all capital gains taxes are alike
The second point is there is no reason to think the kind of capital gains tax being pushed by Labour and the Greens would do what they say it would do.

It would, first, apply to businesses, which are not Current subject to capital gains tax It is difficult to see how this is supposed to help such investment.

Second, it would not apply to two-thirds of the residential property market, because it exempts owner occupied housing. This is important, because opposition politicians are inclined to talk as if everyone who advocates a capital gains tax is advocating the same kind of CGT they are pushing.

True, Treasury, the OECD and the IMF have all talked of New Zealand having a Capital gains tax.

But not for the same reasons – and certainly not in the same form as what is being pushed at present.

There is no reason to think a Capital gains tax would stop any future property bubble: it certainly did not in Australia or the United States.

The reason Treasury, the OECD and the IMF all talk of New Zealand having a Capital gains tax is to broaden the tax base and to cover off an area of income not currently taxed.

Crucially, the idea is emphatically not to increase overall taxation: it is to allow tax reductions in other areas.
That is the last thing Labour or the Greens have in mind. In fact, they plan to increase, rather than decrease, income taxes, with the return of a 39% top tax rate imposed by the last Labour government.
In short, the policy is a tax grab under the guise of a concern about the current property bubble in Auckland.
It is the worst kind of bumper-sticker analysis to accept this claim at face value.
It is borne out neither by what is happening in the economy at present, nor by how such a tax would actually work.

Source: The National Business Review

April 19 2013 | Tim Manning | No Comments »

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