The rich has many ways to grow richer. They use family trusts and other devices not to pay income tax. There is no capital gains tax and foreigners do not need to declare or pay tax on money earned elsewhere. The gomen encourages people here to get richer. It is all above board and legal. This system is the capitalist way (as opposed to the communists way)
Needless to say, the poor in NZ, like every where else, is getting poorer. Many people in Auckland are sleeping in cars and garages because rich people (some foreigners) are using land banks and not releasing any land for building any more houses.
The answer is to move away from Auckland; no need to spend 4 hrs a day commuting to work on the jammed motor ways, burning fuel. You may make more money in city jobs but the houses in Auckland cost twice as much as an identical one in Hamilton. Where got meaning?! Move to a smaller town to enjoy a better quality of life.
Adding Gold to the Portfolio - People add gold to their investment portfolio for all kinds of reasons… it’s pretty, they accidentally read Zero Hedge, their Mom suggested it, or they p...
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