Quote Originally Posted by iceman View Post
We are the only country in the OECD that does not have a formal CGT although we have the Brightline tax which of course is CGT in disguise.
We dont have stamp duty either, or inheritance tax. There musty be loads of taxes we don't have in NZ. Doesn't make introducing new one right.

There is only thing to consider. Does the current tax regime raise enough revenue to cover govt expenditure. If so then no change required.

From there you ask how efficiently you can raise those taxes and look for improvements (whole also trying to reduce govt expenditure)

And then from there you try to figure out a relatively fair scheme where each person pays there fair share. This is where it gets hard because nothing in life is fair. No point trying to make it dead fair cos such a thing is impossible.

In any tax system there will be winners and losers. Is it fair that those on minimum incomes and pay less tax get to enjoy most of the government expenditure. No. But that's the way it is.

Is it fair that people work hard and invest in the hope of bettering themselves (and paying taxes along the way) reap some capital gain (when times are good). No. but that helps offset the other unfairnesses.