Source: Taxpayers Union
17 MARCH 2021FOR IMMEDIATE RELEASEThe Green Party should abandon their crusade to put an unfair capital gains tax back on the table, says the New Zealand Taxpayers’ Union. Union spokesman Louis Houlbrooke says, “The Green Party’s suggestion to extend the bright line test is a de facto capital gains tax, with the same fatal flaws as Michael Cullen’s failed proposal.” “In fact, by excluding the ‘family home’ the Green Party’s policy won’t even achieve its stated goal of suppressing house price growth, and won’t raise much money. Investors will exploit the family home loophole to avoid the tax, designating properties as the ‘family home’ of a spouse or child.” “It’s so obvious that the tax won’t achieve its goal that we are left to wonder if the Greens’ real motivation is political; an attempt to satisfy envy.” “New Zealanders don’t want a capital gains tax. The Prime Minister has promised not to introduce one. The Greens need to abandon this hopeless ideological crusade.”
