Australia's CGT provides huge avenues for fiddling, and boy do the Aussies know it.
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Labour set the tax policy, not the opposition parties. They're not part of it at all.
Yes, it would be a very easy play to show it was self-serving to Labour's re-election bid. Jacinda can take one for the team, so that a populist taxation policy which does very little to repay debt, and causes an even greater distortion in the taxation system, can be implemented in order to simply win an election. Transformational Government was another great slogan, with no delivery.
I see on the news today that the Oakura Green School principle has resigned today. Apparently unrelated to the recent controversy.
Fran likes it
https://www.nzherald.co.nz/business/...ectid=12363644
Quote:
The naysayers have also argued that the reintroduction of the 39 per cent rate will only raise a mere $550 million a year in additional revenue. This $550m is not the mere drop in the bucket they suggest.
It may be a fraction of what the Labour Government is borrowing to fund the fiscal stimulus it is applying to support the economy through the worst of the Covid-19 crisis.
But that $550m will also help to offset a predicted fall in company taxation off the back of lower profits.