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- Date published:
5:30 pm, October 10th, 2025 - 5 comments
Categories: Daily review -
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Daily review is also your post.
This provides Standardistas the opportunity to review events of the day.
The usual rules of good behaviour apply (see the Policy).
Don’t forget to be kind to each other …
The migration across the Tasman has been rewarded with a response.
A new (different) One Voice has looked over the "C, D and W" Show here.
No A and A rating followed.
Warning to those who cannot handle honest government media.
NAct's cuts are working as intended – for the sorted, not the many.
Thanks SPC for a cathartic dose of honesty.
Principle and tax.
The overseas expert cannot understood why a nation with GST has no comprehensive CGT as well.
Short answer one is regressive and the other impacts on those who are more important and entitled.
https://www.1news.co.nz/2025/10/05/why-this-part-of-nzs-tax-system-leads-the-world-visiting-expert/
Guess who thinks that our lack of a CGT (or an estate tax or stamp duty or gift duty) is “our” advantage – Nicola Willis.
He says GST = good, CGT = good. Wealth tax= dumb. I agree, sorry Chloe. CGT is easy on say a house that's sold, cos it has a sell price minus a buy price, divided by # of years multiplied by 0.whatever the rate is. 'Wealth' tax is a boondoggle multiplied by a cluster&^%$
Quantifying and taxing unrealised gains, though fairer in principle, is difficult. An accountants, valuers and lawyers dream.
There is no justification for the current situation, where the bulk of tax in NZ is paid by those who earn directly, by working, while those who get their wealth by "owning assets" are way undertaxed. From IRD. Not to mention those who work a few hours per week coming off welfare paying higher marginal tax rates than billionaires. Note, the Coalition of Cockups is intending to cancel the IRD research that gave us the numbers.
On realisation, can be effective on taxing wealth, if structured properly. But it has to be on any point of realisation, including inheritance, sale and gifting. Inherited going concern businesses are an issue. (But on sale taxation encourages the owners to make them work as a going concern, instead of the, all too common Kiwi practice of "pump and dump for tax free capital gains. An economic plus)
Lastly all gains in wealth should be treated as income, equally with PAYE and business income taxes. Unfortunately the obvious difficulties inherent, in quantifying and taxing unrealised income, may kill any attempt to do so, if we go down the including unrealised gains, track.
Noting that rates are already a tax on wealth, not earnings. So. We already tax unrealised gains to some extent.