Category Taxation in New Zealand

Call for Capital Gains Tax in New Zealand

August 10, 2009 Taxation in New Zealand  No comments

The call has once again been sounded for the introduction of a Capital Gains Tax in New Zealand.

Installing a capital gains tax system could yield benefits of up to NZ$2.7 billion to the country, $1.36 billion of which will be in the form of direct tax revenue for the Government, according to Craig Elliffe, Auckland University tax policy and law professor.

Craig Elliffe said “People pay taxes because they believe other people pay taxes,” in reference to New Zealand’s current scheme of personal taxation. According to him, it is unfair that while one individual would see a tax bill of $38,000 on their $100,000 income, another would see no taxation on the equal income earned from a property sale...

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