KEY POINTS:
United Future leader Peter Dunne, who is also Minister of Revenue, says there is no way his party would support a capital gains tax on housing.
"There's been a lot of hysterical talk lately about rich foreigners buying up all our homes and depriving ordinary Kiwis of the chance to get onto the property ladder," he said.
"Somehow I doubt that rich dentists in Belgium or oil tycoons in Houston are sitting around planning on buying a house in Sydenham for investment purposes."
Mr Dunne said he was "bemused" by talk of taxing ordinary Kiwis who chose to invest for their retirement by buying second or third homes for rental purposes.
"The Commissioner of Inland Revenue already has sufficient powers to tax such investors if he deems they are traders and not investors, and if he thinks that's the best way to maximise revenue for the Government," Mr Dunne said.
"United future is a low tax party... we're more concerned with lowering taxes rather than increasing their number."
- NZPA
