Election 2017 - Party Policies - Tax - Capital Gains Tax
27th May 17, 9:10am
by
Capital Gains Tax
Click here to return to the policy homepage.
Not yet available on their website.
- Support the introduction of a comprehensive capital gains tax on inflationadjusted capital gains at the time of realisation. Any capital gains tax must apply to assets in New Zealand that are purchased and sold by corporations or people living overseas as well as assets sold or purchased by residents.
- 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.
- Read more here.
- Labour will set up a Tax Working Group. The Working Group will not consider any proposals for an inheritance tax or any other tax changes that would apply to the family home or the land under it - regardless of its ownership structure.
- The implementation of any changes associated with the Working Group will be for the 2021 tax year.
- Minimise the tax benefits that can be gained through speculation on houses.
- Remove the current loophole that allows losses from rental properties to reduce the taxation paid on other sources of income for which the landlord is liable (so-called 'negative gearing').
- Extend the 'bright line' test that taxes the profits made on the sale of properties other than the family home from two years to five years.
- Read more here.
Not yet available on their website.
- Won’t create new taxes that would slow New Zealand down.
- Won’t investigate a capital gains tax, a land tax or an inheritance tax.
- Read more here.
Not yet available on their website.
Not yet available on their website.
 |
 |
 |
 |
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.