Property is about to get a tax thump.
So investors will put money in the stock exchange?
I think not.
The Securities Commisin is widly derided. The public, often castegated for an absense of rational decisionmaking, are very astute to put money in property, which is governed by clear , enforced laws. Not The NZ Wild West.
Even after the '87 cock ups, and susequent fiddling, the sharemarket is still an easy place to loose ALL of an investment.
Think about this aweful indictment: In '87 ( at it peak) the Australian sharemarket value was 4.2 times the NZ value. Now it is 33 times.
Dont beat up property Bill, Beat up the Securities Commission!
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