Capital Gains Tax

[Aaron]

I don't have a problem with CGT in NZ. But I do have a problem when CGT erodes and discourages investment in NZ. Without investments, you lose jobs, it's that simple. If you disadvantage those that have the $, then you will have what many other nations experience, a 'flight of capital' (Brexit is a good example)

I guess the very well off will go where ever they get the best deal.
https://www.msn.com/en-nz/news/world...cid=spartandhp

[SBQ]

I guess the very well off will go where ever they get the best deal.
https://www.msn.com/en-nz/news/world...cid=spartandhp

It's not just the UK. The world is full of places where the rich can choose to reside.
This is what I mean about a slow exodus of capital flight. The gov'ts don't understand the benefit rich people have to their economy.

Look what's happening in NY. Fortunately the US has plenty of other states. In NZ, our NZ1st/Labour coalition needs to understand what motivates the rich to leave?

https://www.marketwatch.com/story/ch...hq2-2019-02-15

The video of Munger says it all. “They’re old. They keep your hospitals busy. They don’t burden your schools, the police department, your prisons. They give a lot. Who wouldn’t want rich people?”

Yet somehow in NZ, if you own a lot of houses or some asset, you're frowned upon and the gov't is just trying to find ways to take that wealth away citing "it's not fair!!!".