Minister of Revenue tagged posts
January 28, 2009 New Zealand Taxation
Peter Dunne called the idea of a Capital Gains tax in New Zealand a “hoary old chestnut”, in a press release on the 27th of January.
In response to a New Zealand Manufacturers and Exporters Association (NZMEA) statement calling for the introduction of a Capital Gains Tax, the Minister of Revenue Peter Dunne voiced strong opposition to the idea of introducing a capital gains tax. He claimed that it would be political suicide for any government to even try and introduce it, and that it would not happen with him as Minister of Revenue. Further, the concept was labelled as draconian and backwards looking.
In this case, the Capital Gains Tax refers to gains made by selling a house, although the argument and tax implementation could extend to other investments like securities.
In his statem...Read More