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Overall the CGT in its current form is going hurt the average kiwi battler(esp the new investors looking to make their first investments in property) more so than the well-off they think will take the brunt of the extra TAX...
For me personally, this CGT plan won't affect us much at all.. I don't have a Kiwi saver ... I trade shares within a company structure so pay tax anyway as does anyone they trades shares or crytpo / bullion /art etc..
and have speculated with property in the past so tainted anyway now and bright line test is 5yrs so speculators are caught these days anyway...
And you add in the fact Capital values of most of NZ property is at record highs in this long bull cycle more likely those selling over the next decade may well take a loss and need tax rebates ,,
in 2016 the US-based Tax Foundation ranked New Zealand’s overall tax system as second in the developed world for its competitiveness - and top for its individual (personal) taxes.
then along comes Cindy >>>