CGT reprieve

After months of concerned anticipation for investors, the Coalition Government today shocked everyone by announcing they won’t be proceeding with the Tax Working Group’s controversial capital gains recommendations.

Prime Minister Jacinda Ardern says that after significant discussion the parties in the Coalition Government have been unable to reach a consensus.

As a result, they will not be introducing a capital gains tax and they have agreed no further work is necessary on that aspect of the TWG’s report into tax reforms.

Ardern says she believes there are inequities in our tax system that a capital gains tax in some form could have helped to resolve.