Scoop has an Ethical Paywall
License needed for work use Register

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


Labour's Signal On Capital Gains Tax Welcomed

Deborah Russell's call for a rethink on Labour's tax policies is being welcomed by Tax Justice Aotearoa.

Labour Party Revenue spokesperson Deborah Russell told Newshub her party is set to review "where they see our policy going on revenue."

It's a stance welcomed by TJA, who say public support for progressive tax reform is strong.

"It's encouraging to see Labour taking steps toward tax policy changes - as the party's lack of courage on tax contributed to its election loss," says Tax Justice Aotearoa chair Glenn Barclay.

"Our Essential media poll during the campaign showed huge support for taxing all income fairly - including taxes on capital gains. 62% of people agreed that all income should be taxed the same way, regardless of how it is earned."

Speaking to Newshub, Deborah Russell agreed that "we need to do something about the taxation of capital gains in this country" and "it's a large gap in our system."

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.

She says New Zealanders "now have a pretty good understanding of capital gains taxes."

Glenn Barclay agrees - and says that once the concept is properly explained, people tend to support it.

“Once people understand that the gains from the sale of assets such as houses and shares is income, just like income from employment, then they realise that our current system is unfair,” says Glenn Barclay.

“This opens the way for meaningful conversations about taxing capital gains. For too long this has been a no-go area in New Zealand politics, with politicians treating the prospect of a capital gains tax as a threat.”

Tax Justice Aotearoa has issued a Briefing to Incoming Ministers (BIM) - and shared it with opposition revenue spokespeople - as an outline of New Zealand's fiscal challenges - and suggests a number of proposed solutions.

© Scoop Media

Advertisement - scroll to continue reading
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On National Spreading Panic About The Economy

It is a political strategy as old as time. Scare the public with tales of disaster and stampede them into supporting your ideological agenda because they believe There Is No Alternative. Yet, if the NZ economy truly is as “fragile” as PM Christopher Luxon says it is... Then how come New Zealand has enjoyed a double AA+ credit rating from the international rating agencies for so long? If we have truly been in the thrall of incompetent tax, spend and borrow extremists for the past six years, how come our net government debt burden is only in the middling average of OECD countries, and how come our government debt-to-GDP ratio – however you measure it – is less than half the average for the Asia-Pacific region?..


Labour: Grant Robertson To Retire From Parliament
Labour List MP and former Deputy Prime Minister and Minister of Finance Grant Robertson will retire from Parliament next month, and later in the year take up the position of Vice Chancellor of the University of Otago... More

Government: Budget Will Be Delivered On 30 May

Plans to deliver tax relief to hard-working New Zealanders, rebuild business confidence, and restore the Crown’s finances to order will be unveiled on 30 May, says Nicola Willis... More

Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More

Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More




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.