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 1 points 2 weeks ago (1 children)

I guess my concern with one tax that covers everything, is that weathly people will just change what they do. And in butterfly effect style, we probably can't predict the true impact. My suspicion would be wealthy people pay accountants lots of money to work out how to collect wealth with fewer transactions, and continue paying minimal tax compared to their wealth.

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

I guess my concern with one tax that covers everything, is that weathly people will just change what they do.

I don't think they are going to stop moving money around. In any case I don't thing "they might do such and such" is a good excuse to not do something. If they do something we'll so something too.

My suspicion would be wealthy people pay accountants lots of money to work out how to collect wealth with fewer transactions, and continue paying minimal tax compared to their wealth.

tax evasion is technically a crime but the tax is based on a percentage so it doesn't matter if you do ten transactions or one, if it's the amount of money.