Capital Gains Tax Axing Good News for Small Business
Thursday, 18 April 2019, 9:06 am Press Release: Retail NZ
Capital Gains Tax Axing Good News for Small Business -
Retail NZ
Retail NZ says today's announcement that the
Capital Gains Tax will not proceed is great news for small
businesses.
"Retail NZ welcomes the announcement that the
Government is not proceeding with the introduction of a
Capital Gains Tax," Greg Harford, Retail NZ Interim Chief
Executive, said today.
"A Capital Gains Tax would have
caused real problems for those investing in small
businesses. Many small business owners use the goodwill
built up in their businesses as a modest retirement savings
plan. Many were concerned about the impacts of losing a
large chunk of their life savings to the Government through
the proposed tax.
"The tax would likely have had a
chilling effect on investment in business, and overall,
Retail NZ is pleased that the Government has listened and
has announced that it will not proceed with the
Tax.
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