Capital Gains Tax debate

We should have a decent debate over the merits and drawbacks of capital gains tax, and whether it would be wise to extend the existing provisions for CGT.

Unfortunately I can’t see that happening, it’s almost certain to be shouted out by electioneering.

It may be brave of  Labour but it’s not bold – not yet at least. They have only dipped their toes in, testing the water.

One thing seems certain, it won’t be a big revenue grabber in the near future, so Labour will have to look at more significant tax changes if they are to fund their proposed spending and other tax cutting proposals.

Edit: And on cue, The Standard demonstrate Labour’s focus:  Owning the Agenda
– it’s all about winning political battles, and stuff having a sensible discussion on what’s best for the people of New Zealand?

 

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2 Comments

  1. It may not be a big revenue grabber, but I guess the thinking is that every little bit counts.

    Reply
    • Is adding major complexities to the tax system worth it for a little bit of extra tax? It seems to be a big change to fund cuts for those who hardly pay any tax, or giving those who are nett receivers of tax even more.

      It seems to be for political rather than practical reasons.

      Reply

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