Keep The Change

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Labour recently announced a 28% capital gains tax on rentals, batches and commercial properties. Politicians say it'll make housing affordable, but the data says otherwise.

Luke and Mikey break down why this won't work: no country has ever lowered house prices with property taxes, wealthy people will just borrow against assets instead of selling, and the revenue projections are fantasy. To get $965 million in year three, they need $3.4 billion in property gains - in this economy?

New Zealand is taxed up to your eyeballs. Everything you touch has a tax, levy, or fee.

We cover why Australia's CGT didn't stop their property ponzi, how governments get addicted to property tax revenue, and why this policy is 20-30 years too late. Plus the harsh reality: if you want to disincentivize property investment, you needed this before we financialised housing.

Capital gains tax won't save New Zealand. It's just another way to extract money from people who actually build wealth.

Find Mikey:
https://guardiansmith.co.nz/
https://instagram.com/officialmikeysmith

Amy from http://Levridge.co.nz has come on as a sponsor of Keep The Change to help people with their financial planning.

Stuck? Find Amy : [email protected]
Instagram: https://www.instagram.com/amy.levridge
Website: https://www.levridge.co.nz

Generate are supporting my vision to improve the financial literacy of 100,000 kiwis by sponsoring Keep The Change. Cheers Generate. Head to https://www.generatewealth.co.nz/change/ to find out more.
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‘If no one knows you, money won't flow to you’ - simple but confronting words that stopped me in my tracks a long time ago. Unfortunately, for many, many Kiwi people we are allergic to getting known. But you’re getting in your own way, over complicating it all. All you have to do is be good at something and have people know that you are. That’s all it is now. Keep it that simple to win and progress.

Hey thanks for listening! Please take some form of action from this content, don’t just be a consumer, become a producer! Make sure you’re subscribed to Money Mail via Keepthechange.co.nz to receive our weekly lesson on money and financial literacy. Stay close to us on social media and share this with someone that you think this content will help. Together we can collectively improve the financial literacy of New Zealand - let’s get on with it.

Find us here:
@keepthechange_nz
https://www.keepthechange.co.nz/
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Everyones favourite to predict...and get wrong!

See what happened in 2024 and 2025 here: https://www.youtube.com/watch?v=TTvtdNmI7gU
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Its not as glamorous as some make it out to be, but here's the truth as to how I make genuinely passive income from New Zealand.

Sign up to Money Mail for free weekly emails to improve your finances: https://www.keepthechange.co.nz/moneymail
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