Election 2011 - Party Policies - Tax - Capital Gains Tax/Land Tax

Election 2011 - Party Policies - Tax - Capital Gains Tax/Land Tax

Capital Gains Tax/Land Tax

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Not set out on their website.

  • Support the introduction of a comprehensive capital gains tax on inflation adjusted capital gains at the time the capital gains are realised (ie a realisation-based capital gains tax). Any Capital Gains Tax must apply to assets in NZ that are purchased and sold by people living overseas as well as assets sold or purchased by NZ residents.
  • Support a blanket exemption for the family home from any capital gains tax when it is introduced.
  • Support treating taxable real capital gains as income for tax rate purposes and investigate mechanisms to allow the income from capital gains to be spread over several years for New Zealand residents.
  • Tighten the rules around Loss Attributing Qualifying Companies (LAQCs) and equivalent tax deductions. Any tightening of the rules will be phased in to allow existing investors time to readjust. (more here)

  • Introduce a capital gains tax. The CGT will be set at a simple low flat rate of 15% with no indexation for inflation. The CGT will be set at a simple low flat rate of 15% with no indexation for inflation. Capital gains on inheritance passed on after death will be rolled over to the heir, and not payable until the gain on the asset is realised. An Expert Panel will be established to deal with issues that are technical in nature and involve areas where a high degree of specialised knowledge is required before a final decision can be reached. (more here)

  • Introduce a comprehensive capital gains tax on all but the family home and Māori land.  This would mean all sources of income (including capital gains and income from shares, bonds, and investments) are collated as income and taxed at an individual’s personal tax rate.(more here)

Not set out on their website.

Not set out on their website.

Not set out on their website.

 

 

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