Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

NZEI Te Riu Roa urges Government to implement CGT

NZEI Te Riu Roa urges Government to implement capital gains tax

21 February 2019

NZEI Te Riu Roa welcomes today's recommendation from the Tax Working Group for a capital gains tax and urges the Government to have the bravery to implement it.

“Rebalancing our tax system will mean ordinary Kiwis and their children getting a fairer go. It’s important that any new tax system reflects and supports our goal of making New Zealand the best place in the world to raise kids. A fairer tax system and concurrent increases in wages should ultimately reduce the disproportionate tax load and financial stress that low- and middle-income families currently carry,” says NZEI Te Riu Roa National Secretary Paul Goulter.

“The current situation is completely unfair. Kiwi workers are taxed on every dollar they earn while people who can afford to invest in second properties enjoy a tax-free loophole. The Tax Working Group’s recommended capital gains tax, while not perfect, goes a long way to making the tax system fairer,” he said.

“A primary teacher on a $50,000 salary pays more than $8000 tax a year. Meanwhile, someone making a $50,000 gain on an investment property pays no tax whatsoever. How can anyone say that is a fair system?” said Mr Goulter.

“Tax is the way we invest in our future as a community through the likes of schools, hospitals and housing. We strongly believe a fairer and more sustainable tax system should also mean more resourcing for education and for children’s wellbeing,” he said.

ENDS


Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.