25 September 2024 – Tax Justice Aotearoa welcomes ANZ chief executive Antonia Watson’s call for a capital gains tax, as reported by RNZ today.
“We agree with Antonia Watson that it’s unfair that gains from capital are not taxed the same as gains from income,” says Tax Justice Aotearoa chair Glenn Barclay.
“This just advantages those with capital over those who rely on wages for their income.
“We are also an outlier internationally in not having a capital gains tax and the research from Max Rashbrooke that we released last week demonstrated this (ref. https://www.tjanz.org/news-tax-research-2024?utm_campaign=tja_reacts_anz_ceo&utm_medium=email&utm_source=tja )
“The Government clearly needs more revenue to address the many challenges we face as a country around such things as climate change, quality public services and poverty and inequality and a capital gains tax could help close that gap.”
