New Zealand Sees Delay in Capital Gains Tax

September 10, 2018 Taxation in New Zealand

UK Taxman Targets Criminal OrganizationsWELLINGTON – New Zealand’s expected capital gains tax may not eventuate, as a working group delays recommending the measure.

New indications have emerged that the New Zealand Tax Working Group will not be recommending a full implementation of a Capital Gains Tax in its upcoming interim report.

The Tax Working Group was established by the New Zealand government shortly after the last election, and it was given the task of evaluating potential changes to the tax system.

The potentially recommended changes will form the basis of the Labour Party’s tax policy when going into the next election.

One major aspect of the Tax Working Group’s work is the evaluation of a possible tax on capital gains, as a means of addressing tax disparity between different investment types and also as a means of lowering house prices.

It is now understood that the Tax Working Groups interim report will now contain a complete recommendation for the implementation of such a tax.

Some experts have already come forward to claim that the issue will be parked because it caries to much political weight.

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