Capital Gains Tax

[shasta]

Probably the wrong forum for this statement.
I'll vote for the party that promises a cross the board capital gains tax.Tax wealth instead of income.
No more mucking around with two portfolios no more FIF rules. (these were brought in to capture the capital gains on overseas shares) no more mucking around with depreciation on houses and LTC companies. No more arguements about intention at the time of purchasing a property.
Bring the income tax rates down at the same time though.

CGT just wont fly in NZ, & we can do better than that.

If people think CGT will hit the greedy property speculators, these are the one leveraged & making losses, or have offsets to other businesses, so its a "looney left" wet dream to think the rich will start paying up.

What would be more beneficial is a flat tax of 20%, to start with.

Drop the company tax rate to 10%, & add in a 10% compulsory super component (thereby matching the 20% flat rate, reducing any need for dodgey accounting)

Bring in some form of a financial transaction tax, not quite sure how this should be set up though.

Perhaps bring back in the Estate Duty/Death Tax, you cant avoid a death tax, so why not clip the ticket on the way out?

If we could somehow outlaw the green party, we could just nationalise a mineral & hydrocarbon company to mine our own resources!

Imagine that, another Maui to provide us with CHEAP POWER & we the taxpayers would own it!