February 18, 2019
Capital gains tax chance to address housing fairness
Cabinet is today considering the recommendations of a working party on taxes led by former Labour finance minister Sir Michael Cullen, and the Greens are keen to put capital gains tax in the mix.
Co-leader Marama Davidson says in the same way other forms of income are taxed, gains from property should be taxed also.
The proposed tax would only cover investment properties, not to the family home.
"For Māori this will benefit because it is about redistributing wealth and power. Māori are less likely to own a home. Māori are more likely to rent a home. What we want to do is redistribute that income so we have better-funded housing," Ms Davidson says.
The working party report will be made public on Thursday.
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