Re: Capital Gains Tax. It is interesting to note that Chris Hipkins has said that Labour will not impose a Capital Gains Tax 'under his watch”.
Does that mean that he intends to be another short-term Prime Minister? If Labour is re-elected?
I suspect a significant reason, apart from popularity before an election, is that no one seems to ever mention that Capital Gains Tax will affect almost every New Zealander's KiwiSaver.
Those who are investing for what is described as ‘growth' are simply investing for capital gain. That is very normal in any society. In many instances, capital gain is only about keeping up with inflation.
So it is virtually everyone, not just the rich, which will be significantly harmed by a Capital Gains Tax.
Bill Capamagian, Tauranga City.