Capital Gains Tax

[fish]

Death duties can be very unfair and may not be good for Nz.
For instance they may force the sale of a family farm that a son has spent all his life contributing to but his father has wanted to hold on to.
Nz is a country made up of small business paying taxes and contributing-they maybe forced to sell it in order to pay death duties.
The rich will find ways to avoid.
The old will be encouraged to gift their assets to family before death-hence no luxury in resthomes
It is a form of double taxation for most cases that will be hit and why should this be so?

[Bjauck]

…
The rich will find ways to avoid.
The old will be encouraged to gift their assets to family before death-hence no luxury in resthomes
It is a form of double taxation for most cases that will be hit and why should this be so?

True, it will be the moderately well-off who will end shouldering the burden. The seriously rich will have the well-paid advisers to find the loopholes.

There are lots of instances of double , treble and more taxation. The government clips the ticket when income is earned, then when it is spent. Then when it earns income from investments made from tax paid income etc.

Except in certain specific cases such as inter-spousal inheritances and your example of the son not receiving a market place salary for working on his father’s farm, from an inheritor’s point of view, receiving a legacy is an untaxed windfall gain.