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Home / The Country

Poll: Are you concerned about the proposed capital gains tax?

The Country
11 Mar, 2019 02:45 AMQuick Read

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The Tax Working Group has recommended a capital gains tax on investment property, shares, farming and others businesses at the taxpayer's highest income tax rate.

Exemptions would apply to the family home and personal goods such as art and jewellery and vintage cars.

What do you think? Scroll down to vote

For large properties, or so-called lifestyle blocks, a CGT would only apply to the profit made on the land and assets beyond 4500sq m and the family home.

The tax would be applied after sale on the gain in value between April 2021 and the sale price.

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National Party leader Simon Bridges said the 403,883 figure included about 50,000 farms.

But it did not include those who ran a business from home, or who had flatmates.

"They would also be subjected to a CGT. The multimillion-dollar home in Remuera and Oriental Bay will be protected from a CGT, but the three-bedroom house on two acres in Wyndham in Southland, listed on Trade Me with an asking price of $260k, would be included."

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Business

Tax proposal 'a mangy dog' - CGT backlash

21 Feb 03:59 AM

Feds say reject tax proposals

06 Mar 01:15 AM
Agribusiness

Silence of the lambs: Why are farmers quiet on CGT?

08 Mar 07:00 PM

CGT 'killing incentive to get ahead' - Bridges

07 Mar 03:30 AM
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