Feature: Tax Working Group
Capital. Gains.Tax. Three little words that strike fear into the hearts of many New Zealanders.
Opposition to a capital gains tax (CGT) is so deep-seated that it has crossed ideological barriers to gain a reputation as a highly effective vote killer.
In September, the TWG released its interim report on the “Future of Tax”. It makes it clear that the TWG believes in capital income – gains from the sale of capital assets like property – is taxed inconsistently and in this situation needed to be rectified.