this post was submitted on 27 Oct 2025
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Labour to campaign on narrow capital gains tax, no wealth tax (www.rnz.co.nz)
submitted 2 weeks ago by Auth@lemmy.world to c/newzealand@lemmy.nz
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Glad they are finally doing it and this should hopefully get much needed funding for our healthcare system. Whats shocking to me is that even with all the controversial bits taken out its still unpopular. I swear nz has the most hardheaded people out there.

RNZ-Reid Research poll last month found 43 percent in support of a CGT on investment properties

What is left for people to whine about?

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[–] Dave@lemmy.nz 4 points 2 weeks ago (1 children)

Even though farmers almost never vote Labour, National may get sympathy votes from others if the farmers jump up and down about how family homes for most people are exempt but not for farmers since it's typically one title.

There's also the extra challenge of farmers claiming a worker's residence is not a rental, then sometimes it will be on the same title as the main house and sometimes they bought the neighbour's farm and the houses are on two different titles so might get treated differently between farms.

I can see how it's easier to exclude them and then expand later if needed.

[–] BalpeenHammer@lemmy.nz 6 points 2 weeks ago (1 children)

Let them cry. There is no disputing that a farm is a business. They should be treated like any other business. If there is a house on a farm then the land the house sits on could be treated as a residence and given a different title. That's what should happen anyway. I am sick and tired of farmers getting everything they want at the expense of everybody else who has to pick up the tab and conserve water. BTW same goes for lifestyle blocks. They are not even farms and they get treated like farms.

[–] Dave@lemmy.nz 1 points 2 weeks ago (1 children)

Would other businesses pay CGT on property sales under this proposal?

[–] BalpeenHammer@lemmy.nz 2 points 2 weeks ago

Businesses do buy and sell property so they should if they don't. They also invest in shares so they should if they don't. I don't think an exemption should be made for any business. It's unconscionable to put the entire burden on the citizens.