Tax Working Group chairman Sir Michael Cullen outlining the details of a proposed capital gains tax during his briefing at the Treasury in Wellington. Photo / Mark Mitchell
Tax Working Group chairman Sir Michael Cullen outlining the details of a proposed capital gains tax during his briefing at the Treasury in Wellington. Photo / Mark Mitchell
The release of the Tax Working Group report, with eight of the 11 members supporting the introduction of a capital gains tax, is an unnecessary invasion and assault on all hard-working New Zealanders.
It has to be acknowledged that we have a Government that is already running massive budget surplusesbut in typical left-of-centre fashion they want to take even more.
How can they possibly say that the capital gains tax received will be tax-neutral when they have no idea whatsoever as to how much will be raised from such a tax? You can guarantee that they will find ways to spend it even before they have received it.
Furthermore, any small proposed tax cuts will easily be eaten up by additional capital gains tax compliance costs. If I was Labour, I would be dismissing it outright as after just 24 hours there already seems to massive opposition to its introduction.
The proposed new Capital Gains Tax can be summed up in two words: "Accountant's dream".
Maurice Mckeown Welcome Bay
Love for lawns
I read the editorial about lawns (February 20) with total agreement. My family have a rather large lawn, but when the call came for no sprinklers we complied.
Now the grass has gone brown – except for the infernal kikuyu that is attacking the finer grade grasses. To add to my wife's beautiful English Country Garden, I created a Mercury Bay Lawn at not insignificant expense and many hundreds of hours and am watching it wither and die off.
I am trying to think of other ways to keep it watered. I may get a 5000-litre rainwater tank and collect through the year for such a time as this. That will cost about $1000 if I can afford it. But it would also provide water in the event of a major disruption to our mains water supply.
My father – now aged 96 - will probably read this and smile as he had Tauranga's best Mercury Bay Lawn, as perfect as a putting green. At least he no longer has to weed it.
I'd like to think we could have a one day a week sprinkler going if our water level improves – just to keep the grass alive?
