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Daily review 29/10/2025
9 comments on “Daily review 29/10/2025”
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what's the tax rate for the bright line test? will Labour's CGT replace the BL test?
https://www.rnz.co.nz/news/business/577065/what-you-need-to-know-seven-questions-about-a-capital-gains-tax
Yes, AFAIK.
ta.
I don't think that RNZ piece is correct in saying it's for rental properties.
What is allegedly for rental properties, the BLT or the proposed CGT?
Some as it exempted new builds.
As an aside, I heard on RNZ this arvo an on to it suggestion.
Jesse Mulligan opined the new tax should have been called The BLU Tax.
Bright Line Ultra Tax.
Great idea, a little bit of a break from the poisoned chalice that is CGT and the name implies those that it will effect.
Certainly. But the issue might be when.
The CGT would arrive with value as at July 1 2027.
The existing bright-line test legislation would apply for up to 2 years from purchase.
Labour could choose to expire this as late as (from June 30 2027) June 30 2029.
They won't go that far.
It's not about those who reduce the bright-line test from 10 to 2 years, so they can sell their investment properties after 2 years to make an untaxed CG.
It's not about those who do this before they leave office with a CGT looming.
It's not about helping out their mates, who are not so rich and sorted and so still have mortgages on their property portfolio's.
It's not about filling in the budget deficit with more money from Beehive matches dependent smokers and more tax from profits of tobacco and nicotine addiction supply companies.
It's not about building stockpiles of coal to burn. Or building a port for the most expensive gas in the world.
It is why have they not considered contracting a price for Methanex gas in dry years.
It is why sea bed mining and not an offshore wind farm and onshore battery etc.
It is why a MW increase well below inflation.
It is why are people being removed from ACC coverage.
It is why they reneged on pay equity.
It is why they opposed Fair Pay Agreements, Industry Awards.
It is why their policies resulted in a decline in building consents.
If they are not competent to govern, why do they not simply admit it and go now.
Their duty is not to make it worse by staying in office.
So many questions.