New Zealand scraps capital gains tax

Pedro Gonçalves
clock • 3 min read

The New Zealand government has abandoned plans to impose a capital gains tax (CGT) due to lack of public support. Prime minister Jacinda Ardern ruled out a CGT under her leadership, saying that no consensus was able to be reached within the government, despite being one of the main issues she campaigned on with the view that it could make the nation's taxation system fairer. The CGT was recommended in February by the Tax Working Group, which the government spent NZD$2m on to review ineq...

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