Quote Originally Posted by SBQ View Post
... IRD in NZ is way too lenient in allowing the use of real estate as a way to escape tax when compared to other investment or business models.
There is no CGT in New Zealand, though there are situations where a capital gain is treated as income for tax purposes. The current government campaigned on a CGT, then set up a tax working group that (eventually) came to the CGT party. Next minute, the Prime Minister made a captain's call and canned it.

There were some exceptions to the proposed GST, like main home, small businesses sold to fund the owner's retirement, baches. The exceptions were not thought through and kept being added to or changed with voter feedback. It was heading for a big unpopular mess and a potential game changer for the government. So, gone.