Gordon Campbell: On New Zealand’s Timid Reluctance To Tax The Rich

In one respect at least, New Zealand appears to be the Monaco of the South Pacific. Our wealthy pay low income taxes, face no significant tax on their capital gains, and there is no wealth tax at all. If you were rich, why live anywhere else? Evidently, the cashed-up members of our tycoon sector have been bluffing. New Zealand’s well-to-do wouldn’t up stakes and shift to another developed country if the Luxon government ever did bring itself to tax wealth as fairly and thoroughly as they do in Australia, Canada, the US, the UK and a number of European countries. In those countries, our fleeing