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

 

REINZ welcomes Labour’s CGT announcement

The Real Estate Institute of New Zealand (REINZ) has today welcomed the announcement from the Prime Minister that Labour will not be adopting a capital gains tax (CGT), following feedback from the majority of New Zealanders that they do not believe in a capital gains tax.

Bindi Norwell, Chief Executive at REINZ says: “As an industry we had grave concerns that a capital gains tax could push up house prices even further - especially when we look at examples of other OECD countries that introduces CGT such as South Africa and Australia and have seen housing affordability decline in those countries.

“Therefore, we welcome today’s announcement from the Prime Minister that Labour will not be looking to proceed with any of the Tax Working Group’s recommendations and instead focus on the wider issues affecting New Zealanders,” continues Norwell.

“We also welcome the fact that Government will look at other areas of the tax system that could be fairer and look forward to engaging and consulting with the Government over these areas they wish to address in the coming months.

“Those who own lifestyle blocks will no doubt be particularly pleased with today’s announcement, as they were one of the few communities facing a capital gains tax on the sale of their own home on land over 4,500 square metres.

“We hope today’s announcement will bring more certainty for the real estate industry as feedback from buyers and sellers has been unanimous in their uncertainty ahead of today’s announcement,” concludes Norwell.



© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

SCOOP COVERAGE: CHRISTCHURCH MOSQUES TERROR ATTACK


Gordon Campbell: On Reforming Parliament’s Toxic Culture

It would be nice to think Parliament was a forum where rationality ruled – and where policies are raised and evaluated in terms of their contribution to the greater good. Obviously, it isn’t like that... More>>

Historic Assualt Allegation: Parliamentary Service Staff Member Stood Down
Rt Hon Trevor Mallard said today: “I do not want to cut across any employment or possible police investigations, but I am satisfied that the Parliamentary Service has removed a threat to the safety of women working in the Parliamentary complex." More>>


 

Fatal 2018 Crash: Police Officer Should Not Have Engaged In Pursuit

The Independent Police Conduct Authority has found that a Police officer should not have tried to stop or pursue a car thought to contain young people in Palmerston North on 28 May 2018. More>>

ALSO:

New Poverty Targets: Goals Overlook 174000 Children In Worst Poverty

Child Poverty Action Group is pleased to see the Government set ambitious 10-year targets for child poverty reduction, but we are disappointed not to see a target set for improving thousands of young lives where the worst of poverty is found. More>>

ALSO:

Study: Guidelines Needed To Avoid Risks In Government AI

New Zealand is a world leader in government algorithm use – but measures are needed to guard against their dangers. This is the conclusion of a New Zealand Law Foundation-funded report from the University of Otago’s Artificial Intelligence and Law in New Zealand Project. More>>

ALSO:

Pike River: Families Welcome Opening Of Drift

The group representing 29 of the Pike River Families - the Pike River Family Reference Group - has welcomed the unsealing of the mine at a private family event this morning... More>>

ALSO:

Auckland Harbour Bridge: New Design For Walking And Cycling Crossing

The NZ Transport Agency has released plans for its preferred option for a shared path over the Auckland Harbour Bridge which will transform walking and cycling not only across the harbour, but throughout the city. The Transport Agency says its preferred ... More>>

ALSO:

Wellington:

Shaw First Reading Speech: Climate Change Response Bill

Madam Speaker, today we begin the task of amending the Climate Change Response Act [2002], to fulfil the commitment that we have made, as a country, to limit global warming to no more than 1.5 degrees Celsius above pre-industrial levels. More>>

ALSO:

Housing: More Unsold Kiwibuild Houses Bought By Govt

The Crown underwrite for unsold Kiwibuild homes has been triggered for a second time. Now lack of sales in Mike Greer's development in Canterbury and Auckland means the government has had to buy back seven more homes. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels