War over capital gains tax begins

Few people know for sure yet what the TWG has recommended to reform New Zealand’s tax system, but it is widely expected that a capital gains tax will be one of its recommendations.

In anticipation, the battle lines in the looming war against a capital gains tax are already being drawn, and pundits’ opinions on what it could mean are flowing thick and fast.

ACT leader David Seymour today jumped the gun and launched his party’s campaign against a capital gains tax, which is described as an “envy tax” on successful New Zealanders.

Seymour says a capital gains tax is not just about money and New Zealanders’ attitude towards achievement and success.