https://www.stuff.co.nz/business/108...ital-gains-tax
Printable View
Interesting points. I think Cullen has good points. viz:
Even though most people in NZ support a capital gains tax, it is generally not a burning issue for its supporters. Also, with the ageing population it is likely that support for a capital gains tax will diminish - oldies being more reliant on investments.
I think 777 just confirmed Michael Cullen's concern that it might be now or never for a capital gains tax.
Although some of the headlines I've skimmed sounds like the tax working group can only come up with half arsed proposals that are politically palatable.
Don't worry 777 I see Simon Bridges has promised to repeal any capital gains tax.
He won't need to as IFRC a capital gains tax won't be enacted this term and they won't get a second unless they get away with less than the 5% bar for the other losers. And then that may even be a struggle. Mind you I don't think Simon will be the one having to make the decision.
Definitely if he doesn't win the next election. although he is popping up a lot in the media which is always good for a politicians standing. A bit like Judith Collins was popular in the media for a while but she comes across as a nasty bi*ch to me and maybe one of nationals strong links to china and the Chinese voters in nz.
TWG expected to deliver their recommendations this month https://www.stuff.co.nz/business/109...-it-would-work
Haven't seen much discussion of the most relevant outcome for this forum, which is that CGT will affect all local equity market investors.
It seems like the PIE fund regime will now incorporate a deemed rate of return tax for local equities, much like the FDR regime used for foreign shares.
Meanwhile all shares held on a segregated basis will be subject to a CGT on realised gains.
I guess the implication is you want your growth stocks held in a PIE fund, and dividend stocks held in their own account.
Well as nothing definite has come from the TWG then it is all speculation on what could happen.