Election 2014 - Party Policies - Capital Gains Tax

Election 2014 - Party Policies - Capital Gains Tax

Capital Gains Tax

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  • Not available on their website yet.

  • Support the introduction of a comprehensive capital gains tax on inflation-adjusted capital gains at the time of realisation.
  • Support an exemption for the family home from any capital gains tax.
  • 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. (more here)

 

  • Labour will introduce a capital gains tax, excluding the family home, so that people who make money speculating on the housing market and other assets have to pay tax on that income, just as people who work for their income do.
  • The CGT will be set at a simple low flat rate of 15% with no indexation for inflation.
  • The family home, personal assets, collectables, small business assets sold for retirement and payouts from retirement savings schemes, including KiwiSaver, will be exempt.
  • 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.
  • Losses can be carried forward and offset against future capital gains. (more here)

  • Not available on their website yet.

  • Not available on their website yet.

 

  • Not available on their website yet.

   

  • Not available on their website yet.

  • Oppose the introduction of a capital gains tax. (more here)

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2 Comments

Hmm, so if after enduring the financial risk on commencing an investment, we are to be taxed on Capital Gains made when selling the asset, can we expect to also be rebated for any losses that we might instead incur, if the sale make a Capital Loss?

... ha ha ... such a cracking good sense of humour you possess , my friend ...
 
Sadly no !
 
... if you make a capital gain , we snitch a proportion of it from you ... your " fair share " to assist the " poor " and the " needy " in our society .... who will continue to vote for us ...
 
If you're stoopid enuff to make a capital loss , we'll gift to you a rebate for that amount to off-set against any future capital gains you may make ...
 
.... if you don't make any more capital gains .... you're amongst the " poor " or the " needy " .... so just sign up at WINZ and we'll take care of you ....
 
... ha ha .... Ain't socialism an absolute riot ... yuk yuk nyahhhhhhhhhhhh !!!!!!!