Tag Archives: CGT

Politics is the art of the possible — Your NZ

I’ve heard “politics is the art of the possible’ a couple of times over the last few days. Ex Green MP @KevinHague (now chief executive of Forest & Bird) expanded on it: I’ve been thinking about “politics is the art of the possible”. Part of the art is recognising possibilities. And part of it is […]

via Politics is the art of the possible — Your NZ

Robertson ‘surprised’ by reaction to CGT capitulation – yeah, right — Your NZ

Minister of Finance Grant Robertson has belatedly tried to defend the decision of Cabinet to drop any plans for a Capital Gains Tax, and the decision of Jacinda Ardern to rule out trying to bring in a CGT at any time under her leadership. A CGT had been a prominent Labour Party policy, and was […]

via Robertson ‘surprised’ by reaction to CGT capitulation – yeah, right — Your NZ

Government response to the Tax Working Group recommendations — Your NZ

Most of the attention on the Government response to the recommendations from the Tax Working Group report was on the scrapping of plans for any new type of Capital Gains Tax. See CGT backdown, everyone claims victory. But the report also covered a number of other tax changes. Beehive: Govt responds to Tax Working Group […]

via Government response to the Tax Working Group recommendations — Your NZ

Two thirds of CGT revenue would come from inflation! — Kiwiblog

The Herald reports: The bulk of the revenue expected to be gathered from the proposed Capital Gains Tax will come because the Tax Working Group has not made allowances for inflation.This is according to lobby group the Taxpayers’ Union, which this morning released a report which took aim at the proposed tax’s failure to adjust…

via Two thirds of CGT revenue would come from inflation! — Kiwiblog

Poll – most people against Capital Gains Tax — Your NZ

A Business New Zealand/Reid Research poll has found that most people are opposed to a Capital Gains Tax. Labour has found in the past that a CGT was unpopular with the electorate. CGT should be a priority for the Government? No – 65% Yes – 22.8% Has CGT harmed the Government? No – 33.1% Yes […]

via Poll – most people against Capital Gains Tax — Your NZ

‘Tax Justice Aotearoa’ pushing for Capital Gains Tax — Your NZ

A group linked to an international tax reform movement, but seemingly light on tax expertise, is launching a campaign to push for a Capital Gains Tax, plus tax cuts for low income earners and increases for high earners. It seems to be late in the tax reform process, with Cabinet due to announce what it […]

via ‘Tax Justice Aotearoa’ pushing for Capital Gains Tax — Your NZ

The data behind CGT — Kiwiblog

Troy Bowker writes: The Tax Working Group (TWG) used an unreliable survey by the Department of Statistics as the basis for its argument that the majority of the proposed capital gains tax (CGT) will be paid by the top 20 per cent of households measured by wealth.Repeatedly, since the final report was published, Sir Michael…

via The data behind CGT — Kiwiblog

Ax This Tax — Kiwiblog

 

The Taxpayers’ Union has announced: The New Zealand Taxpayers’ Union today formally launches a major campaign to fight the unfair capital gains tax, proposed by Dr Michael Cullen’s Tax Working Group. The Union is encouraging New Zealanders to go to axethistax.nz and use the email tool to tell Jacinda Ardern and Winston Peters how the…

via Ax This Tax — Kiwiblog

Face of the day — Whale Oil Beef Hooked | Whaleoil Media

Parliamentary library reveals Tax Working Group chairman’s former dismissive stance on CGT […] The 84 pages of research included every reference Cullen ever made in the House in reference to a CGT between 1987 and 2008. Stuff The post Face of the day appeared first on Whale Oil Beef Hooked | Whaleoil Media.

via Face of the day — Whale Oil Beef Hooked | Whaleoil Media

From one trougher to another — Whale Oil Beef Hooked | Whaleoil Media

Employment minister Willie Jackson knows how to keep his own snout fully submerged in the public trough because he’s been doing it for long enough. But endorsing another trougher goes beyond the pale. It emerged recently that Finance Minister Grant Robertson quietly retained the services of Sir Michael Cullen after the Tax Working Group had…

via From one trougher to another — Whale Oil Beef Hooked | Whaleoil Media

CGT on the family home? — Whale Oil Beef Hooked | Whaleoil Media

 

This government is a slow motion trainwreck. In spite of a taxation policy that is being slammed from all directions, Jacinda is now refusing to commit to the recommendation that any revenue collected by CGT should be tax neutral. This comes as no surprise, as a Labour government almost never cuts taxes. True to form,…

via CGT on the family home? — Whale Oil Beef Hooked | Whaleoil Media

Labour needs to pass Euthanasia Bill for CGT — Whale Oil Beef Hooked | Whaleoil Media

 

In an excellent article to be published in the Listener on 16 March 2019, Jane Clifton (partner of the Speaker of the House, Trevor Mallard) looks at the current Capital Gains Tax fiasco. Jane outlines a public relations programme that would ensure that any policy proposal would be declared ‘dead on arrival’. Quote. Capital Gains…

via Labour needs to pass Euthanasia Bill for CGT — Whale Oil Beef Hooked | Whaleoil Media

‘Surprise card’ (really?) could help sell CGT — Your NZ

An obvious possible aim with Michael Cullen’s Capital Gains Tax proposals, especially the very high tax rate, was that the Government could adopt a watered down version and sell that as a good thing – this is an old political trick, lead with something terrible and then claim that a half as terrible policy was […]

via ‘Surprise card’ (really?) could help sell CGT — Your NZ

A moronic interview about CGT — Whale Oil Beef Hooked | Whaleoil Media

 

Manama Davidson on RNZ talking to Guyon Espiner about CGT. It is the worst interview I have ever heard. The post A moronic interview about CGT appeared first on Whale Oil Beef Hooked | Whaleoil Media.

via A moronic interview about CGT — Whale Oil Beef Hooked | Whaleoil Media

The unloved capital gains tax — Whale Oil Beef Hooked | Whaleoil Media

 

Most people now accept that Capital Gains Tax (CGT) will do very little to make housing more affordable. Most people, that is, except Jacinda Ardern. She continually parrots the claim that it will help young people get into the housing market; when all the evidence is that it will not. I’m not sure if she…

via The unloved capital gains tax — Whale Oil Beef Hooked | Whaleoil Media

Trying to justify the unjustifiable. — Whale Oil Beef Hooked | Whaleoil Media

 

One of the key arguments used by the Tax Working Group and now by Ardern and the coalition to justify introducing a Capital Gains Tax is that “everyone else is doing it, so we should”.The fallacy of that position is immediately obvious. It was St Augustine who said, “Right is right even if no one…

via Trying to justify the unjustifiable. — Whale Oil Beef Hooked | Whaleoil Media

Labour’s bob each way CGT petitions just double barrelled contact harvesting — Your NZ

 

With the ease of setting up ‘petitions’ they have become a farce, none more so that Labour’s latest bob each way effort, two petitions with opposite questions. Yes, I support a Capital Gains Tax The independent group of experts our Government asked to review New Zealand’s tax system has released their final report. The Tax […]

via Labour’s bob each way CGT petitions just double barrelled contact harvesting — Your NZ

Did Bridges finally score? — Whale Oil Beef Hooked | Whaleoil Media

 

It is usually very disappointing to watch Ardern easily bat away Bridges’ questions in the house that start with the standard opener of, “Does she stand by all her Government’s statements, policies, and actions?” On Tuesday he finally appeared to break through when he pressed Ardern on her vaunted small business experience. Ardern, as is…

via Did Bridges finally score? — Whale Oil Beef Hooked | Whaleoil Media

Paternalistic Speaker protecting Ardern in Parliament — Your NZ

There have been claims already that Speaker Trevor Mallard has protected Prime Minister Jacinda Ardern in Parliament when under attack by the Opposition. This came up again after an exchange in Question Time yesterday, where Simon Bridges moved from questions about CGT effects on KiwiSaver to Ardern’s business experience: Hon Simon Bridges: In light of […]

via Paternalistic Speaker protecting Ardern in Parliament — Your NZ

How to make CGT more acceptable — Whale Oil Beef Hooked | Whaleoil Media

 

I found this opinion piece on Stuff over the weekend and it is worth a bit of a discussion. The government’s position on the introduction of CGT is that it will be ‘fair’. I am concerned that, although a lot of supporters think that CGT will be a tax applied mostly to the very rich,…

via How to make CGT more acceptable — Whale Oil Beef Hooked | Whaleoil Media

Trotter on CGT — Kiwiblog

Chris Trotter writes: WHY CAN’T LABOUR take “No” for an answer? When the party first offered voters a Capital Gains Tax (CGT) in 2011 they responded by giving Labour 27 percent of the Party Vote. Undaunted, David Cunliffe and his team doubled-down on the CGT in 2014. Labour’s Party Vote slumped to a risible 24 percent.…

via Trotter on CGT — Kiwiblog

A free ride on fairness — Whale Oil Beef Hooked | Whaleoil Media

 

The debate around Capital Gains Tax goes further and further by the day. Now the question of fairness in the tax system overall has been raised and of course all taxation is unfair. But that aside, for all that Jacinda goes on about CGT being fair, what is fair about being able to sell artworks…

via A free ride on fairness — Whale Oil Beef Hooked | Whaleoil Media

CGT on Kiwisaver — Whale Oil Beef Hooked | Whaleoil Media

 

I disagree most emphatically with extra taxation on retirement savings in any shape or form. Remember that KiwiSaver contributions are made from tax paid money. I bitterly disagreed when the National government taxed the employer contributions towards KiwiSaver, on the grounds that we are trying to encourage people to save for their own retirement, and…

via CGT on Kiwisaver — Whale Oil Beef Hooked | Whaleoil Media

Jacinda in shock over reaction to CGT — Whale Oil Beef Hooked | Whaleoil Media

 

Jacinda is finding herself very much on the back foot over the TWG’s report, particularly the recommendation to implement a Capital Gains Tax. She must have been too busy playing with her phone during the 2011 and 2014 election campaigns when the proposal for a CGT caused Labour to tank even further in the polls.…

via Jacinda in shock over reaction to CGT — Whale Oil Beef Hooked | Whaleoil Media

Why a CGT on businesses is double taxation — Kiwiblog

A lot of people don’t realise that including sales of businesses in a CGT result in very punitive double taxation on business owners. So I thought I’d give an example. Let’s say Michelle is a plumber. She works for other plumbers for 20 years and then sets up her own plumbing business. She puts $50,000…

via Why a CGT on businesses is double taxation — Kiwiblog

Labour response to Tax Working Group final report — Your NZ

Jacinda Ardern not ‘ruling anything in or out’ after capital gains tax recommended by Working Group Prime Minister Jacinda Ardern won’t commit to any tax reform despite the Tax Working Group report released today recommended a comprehensive capital gains tax. It’s hardly comprehensive – it is more comprehensive than the current tax on property for […]

via Labour response to Tax Working Group final report — Your NZ

Peters the elephant in Labour’s CGT room — Your NZ

Labour told the Tax Working Group what they couldn’t do, and the Tax Working Group final report seems to be largely a Labour prescription. It even uses Labour-like terms such as Future of Work as well as Future of Tax. This isn’t all that surprising given the involvement of Michael Cullen. But while the Group’s […]

via Peters the elephant in Labour’s CGT room — Your NZ

James Shaw slams tax timidity, calls on Labour, NZ First to be bold with CGT — Your NZ

In his opening speech for the year in parliament yesterday Green co-leader James Shaw slammed timid tinkering with tax, and, confronting pontification about whether the current Government can “politically afford to do what no other Government before it has done” and introduce a Capital Gains Tax asks “Can we afford not to?” That must be […]

via James Shaw slams tax timidity, calls on Labour, NZ First to be bold with CGT — Your NZ

Labour, Capital Gains Tax, ‘fairness’, 2020 election — Your NZ

Labour have promoted a more comprehensive Capital Gains tax for years, and set up the Tax Working Group 14 months ago with a CGT as a major focus. However they have ruled out some capital gains from being taxed, particularly ‘family homes’. Labour seem to be caught between two forces – a stated desire to […]

via Labour, Capital Gains Tax, ‘fairness’, 2020 election — Your NZ

Capital gains tax: What we don’t yet know — Whale Oil Beef Hooked | Whaleoil Media

 

The Tax Working Group (TWG) will publish their report next week. It will recommend the implementation of a Capital Gains Tax (CGT). What we don’t yet know is exactly how this tax is to be implemented. Michael Cullen will squeeze every cent out of it that he can and the results will be very damaging…

via Capital gains tax: What we don’t yet know — Whale Oil Beef Hooked | Whaleoil Media