Tuesday, 26 February 2019

Is a CGT a done deal?

The Finance Minister’s latest comments on a capital gains tax revealed more than he would have liked and will have New Zealanders seriously nervous, says ACT Leader David Seymour.

This morning, Grant Robertson repeated his assertion that ‘we haven't made a decision yet’.

But then he followed with: ‘This is not immediate, it's about realisation gains made in the future.’

“Which is it? Has no decision been made on a capital gains tax? Or have Grant Robertson and Winston Peters have already done a backroom deal on a CGT?

“Robertson needs to be crystal clear about what decisions have already been made to tax New Zealanders harder.

“Creating uncertainty could be damaging to the New Zealand economy.

“The Government has already unleashed a wave of red tape and costs on the economy – a ban on offshore oil and gas exploration, industry-wide collective bargaining, and the highest minimum wage in the OECD, to name just a few policies.

“At a time when the global economy is slowing, further uncertainty over tax is not what our economy needs.”