NZ Centre for Political Research

This week's poll asks:

Do you support the introduction of a capital gains tax?

UPDATE POLL RESULT: Yes - 12%, No - 88%

*A qualified yes. Some way of diverting capital away from residential housing and into productive type investments would surely be of benefit. There is so much capital sitting around doing absolutely nothing, it's a shame. Labours proposal is too complicated to work, would cost a fortune to administer and has too many exemptions. If we all sold investment properties and bought artwork, sat on it for a capital gain, we would be sweet. But artwork prices would then go through the roof. Can't win really. Ray

*As Frank says, it breaks all the rules of a "good" taxation system. Of course this applies for the same reasons to Labour's idea of increasing GST and exempting "fresh" and "staple" foods - whatever that might mean. (well, probably it means anything the Labour Party and the Green Party want it to mean.) Instead all parties should be setting goals to reduce government spending and getting out of government-run businesses. Even National can't see past the end of its political nose on that. Duncan

*We dont need any more taxes. We are already overtaxed. Peter

*It's definitely back to the politics of envy - but no mention of taxing the "greedy rich pricks". Wonders will never cease!! Dave

*Only if it was fair & across the the board, why would Maori land be excempt, also the iwi Corpations should be made to pay the same Tax base as any Company not the 28 cents in the $ as they do now. Also all benefits to DPB & unemploed people who can work should be stopped. Government & Local Councils should reduce overheads by getting rid of half the staff they have as this section is non productive & do not create any wealth, they only make rules that stop the encomic growth & productive sector of the market. Geoff

*Crap , if it comes in theres no going back. Owen

*A dumbly thought out tax, proposed by dumb politicians who treat kiwi voters as dummies. Mike

*Definitely not - too difficult to administer fairly. June

*Typical thinking and envy of the have -nots - it's called socialism. I have 2 investment properties which I had paid off by age 65 and this supplements my pension. I worked for 50 years and have never asked the government for anything. Worrying tho as this could be the catalyst for our getting another Labour Govt - God help NZ. Hopefully those sensible enough among us will remember the path Helen Clark and Co. took us down. Carolyn

*The thieving bastards! It's just another reflection of the politics of envy. Any tax system that requires some to pay more in dollar value simply because they have more is totally unjust. Likewise a system that taxes people on a percentage of their income - it means the 'rich' are still paying more in dollar terms. The fairest tax system - assuming there is any such thing - is one where all taxpayers pay the same dollar amount. Caroline

*More political stunts, frankly sick to the back teeth of both L & N parties well past time for a change, and dump these party hacks, any ideas???? Wayne

*1. Such a tax applied to commercial gains would redirect capital to "production" industries.
2. NZ is in stagnation or regression, further taxation increases are not viable. Economic activity continues to decline and tax income for government will continue to decline.
3. The policy of "flogging of government assets" is not accompanied with policy needed to turn round the economy from its current direction. Debt borrowing is increasing and needs to decrease.
4. Chinese purchasing of strategic assets will worsen the problem and pass political power to a totalitarian dictatorship.
5. Borrowing from communist China will be accompanied with implications and further delays NZ facing up to the realities of a failing economy.
6. Globalisation is like trying to make "ice-cream" out of a "bucket of shit!" It is a flawed model that supports vested interest politics, corporate greed and the development of poverty in regional economies. It is a path of self destruction.
7. Doing nothing is not an option - changing the fundementals is the only option. Nick

*No, I don't support capital gains tax. Neil

*CGT Another rip-off example of a tax on savings and investments that have already been taxed at their source. No way! Bruce

*Not in a million years. Bruce

*We need less Tax not more.Capital Gains Tax is too complicated and costly and difficult to administer fairly. Peter

*Good By Labour. Ian

This week's poll asks:

Do you support the introduction of a capital gains tax?

UPDATE POLL RESULT: Yes - 12%, No - 88%

*New Zealand property market as always been favoured amoungst home owners and property investors, due to the lack of a capital gains tax as well as a stamp duty. Keep it status quo. Eric

*WILL THEY ALSO SUPPORT A CAPITAL LOSS REFUND TOO. Alan

*Absolutely!!! Then the people at the bottom of the heap can get some long awaited tax breaks e.g. non-taxable private health insurance premiums, first 10,000 tax free etc, etc. Why should the ratbags at the top of the heap with their family trusts & all the other tax scams that they get up to have ALL the breaks???? Dave

*Just Tax the "Rich" to provide more welfare and "maori settlement" money - enough is enough - Labour the bell tolls for thee!! Mark

*The Government should cut their expenses to be less than the total tax take for that year. Captial gains tax is just another Labour Parties ploy to grab more tax to pay to beneficiaries. NO WAY JOSE. Rex

*Too complex and increased costs would be passed on to those who least can afford it. George

*Overseas investment in NZ is paramount to the countrys economy an income tax would certainly hurt this type of investment. Rex

*I have no capital so it will not effect me, but I know what it will do for the country!!! No No No! Ron

*Its preferable to partial privatisation of the power coys. Stephen

*Increased productivity leads to higher wages and lower taxes. Allister

*Yes, but only if comprehensive with no exemptions, and accompanied by cuts in personal and company tax. Brian

*Your article is spot on! Please try to get it published in the NZ Herald so more people can read the truth of the matter! Kerry

*Too complex. Removing GST from Fresh fruit etc is stupid. Jim

*Labour's proposed capital gains tax is a poorly put together proposal, is not smart and will not get my vote. Sharon

*Removing gift duty shows the point that compliance is higher than the tax take to the community. Capital gains tax would be the same. Kevin

*No, but. I certainly don't support Labour's proposed CGT, but as your commentary indicates, a comprehensive CGT on "earnings" of a capital naqture (i.e. actual earnings adjusted for inflation) would be acceptable provided compensatory reductions in other taxes were made at the same time. Ross

*Drongoism of the highest possible sort, takes accumulated capital and transfers it into the slush fund of the govt. It strays into criminality when a political party will use it to buy votes! David

*With all the exemptions, interpretations,and complications, why bloody bother. This current Labour lot are a disgrace and do not even deserve the title "opposition". Murray

*Phil Goff will lose the next election as Bill English did in 2002 for National & probably the next two as well, except it won't be Goff in charge after 2011; deservedly so, we are sick of socialist Labour taxes. Monica

*Long overdue, even if the horrible nats stay in for another devastating term, Capital gains Tax will eventually have to be instated, why shouldnt they pay tax like everyone else??? Rick

*Revenue is required. CGT is the least painful way to realise this. Michael

*The only way out of the hole we are in is to encourage business, hard work and by that increase production. Ross

*An unfair tax. Raeewyn

*No in the form proposed by Fill Goof. Far too many exemptions and well summed up in Franks article in that it doesn't attempt to change economic behaviour. It only attempts to garner more tax dollars out of a percentage of the population. Roger

*If the owner has used the expenditure on a asset as a tax deduction then by all means. We have an investment property so we are self supporting when we retire. Goff wants to tax that as well, we have not asked for a penny back from our tax on that building, but we get taxed on it's return, so he wants two kicks at the cat. Typical left wing bullshit, trying to turn the have nots against the haves. Sam

*I will support amyone who does NOT introduce a new tax - but spends what we already give more efficiently!! Michael

*No tax increase of any kind whatsoever. Taxes should be cut MUCH further, as should the number of and the salaries for ALL government employees. No further govt. borrowing would be required to fund them. Brendan

*Too costly to implicate and run. Lee

*An attempt to remove any incentive. Keith

*Not well thought out and very difficult to manage with expected returns doubtfull to say the least. Phil

*This country does not have the population to support a CGT and it will push prices of property up more as people will be reluctant to sell. John

This week's poll asks:

Do you support the introduction of a capital gains tax?

*You claim to be against the "politics of greed and envy", but I believe some of National's policies are biased in favour of greedy and complacent operators, like stockmarket players and unregistered players in the property market. And why should I have to pay 30% tax on interest on my meagre savings? Where is the incentive there? Colin

*Because my pension is less than $1500 and is taxed at source, and interest on my bank savings is at 17 & half % a year, while those who but and sell assets pay none. We supply the money for them to borrow to make more, while we pay more tax than employed folk if you add the two taxations (pensions and savings interest) together. Why do the elderly have to save money for the young to spend? I would like an answer. Jill

*Partial CGT is a nightmare. Eleanor

*Labour needs a new leader with the same brains and charisma of Helen Clarke. Cheryl

*Out of interest, which bunch of ratbag government introduced Provisional tax for businesses? Chris

*The average voter will soon realise that a capital gains tax can be TWEAKED to the advantage of politicians. Malcolm

*As usual Labour suck but at least we are spared the smarmy Dr Cullen these days eh. Dominic

*Dumb, Labour does not want to be the Govt. The country is in too big of a mess. Henry

*Nothing but Labour envy. Garry

*It's the start of a rebalancing of the monetary and fiscal framework. The current proposal needs improvement but it's a move in the right direction. Raf

*We already have a CGT but the labour party proposal is just desperate politics. Unfortunately our left leaning media has warmed to the concept and in editorials such as the NZ Herald support labours intentions. NZ has little hope of progressing while we vote in such self interested losers. Irvine

*It will be golden opportunity to open the door for Govts in the future to increase the rate as they have with GST. Selwyn

*This strategy is based on uncertains, ie how much is going to be sold is unknown and we expect to pay for the countries expenses on the back of these uncertainties. Again the racial factor comes to play. Why is one sector of New Zealanders being treated differently to another. We should be looking to the future together and not as a divided nation. The current leader of the Labour Party is another annoying little man and the Labour party will never win while he is leading the charge. Glenda

*Everyone must live within their means, including the government. Imagine being short on your housekeeping one week so all you do is increase your wages. Bernie

*It's high time the Robin Hood (or Robbing Hoodlum?) approach of the bleeding-heart socialists determined to wreck this once-fine-country came to an end: both Labour AND National... Peter

*Of course there should be a tax on capital gains, but 15% is about half of what it should be. Wage & salary workers pay tax. Why not retal & Land speculaters NOT. Gordon

*Cut spending and reduce taxes if this country is to prosper. How many bureaucrats would be employed to collect the tax, this cost would no doubt equal the tax collected. John

*Yes but only for those who are using the lack of a capital gains tax to speculate and cause inflation. I support the total abolition of taxation and that the Government support itself through commercial activity and the abolition of user charges. K

*But modified to omit the distortions in Labour's proposals. Capital gains tax is long overdue in NZ. Ted

*Esp on businesses. It is a disincentive to work to get ahead and the wealthy are already paying the majority of the tax. Sue

*Stupid Labour has thrown away its election chances. When National wins our sovereignty will change hands. George

*We are already over-taxed. Terry

*But not Labour's version. Peter

*Capital gains tax is just another effort by the left wing to steal the profits of the hard working and thrifty and give it to the bludgers and parasites. Parasites being various non-specific Government employees and publicly funded band wagoners all beating the drum of awfulisation in one respect or another. The latest is this emotional bleating about children arriving at school bungry. All schools with these issues should be growing food in the school yard. The kids should be looking after chooks and growing veges and fruit, under the guidance of a few practical leaders, aided by the unemployed parents who are so short of money they cannot feed their children. I've had a gutsful of the bleaters. Dianna

*CGT is probably inevitable in NZ - but only as part of a deliberate tax reform policy. Roger

*For all the reasons you have outlined. Maurice

*Goff is one big political but dangerous joke. His proposed CGT is just another reason why Key will do even better in the election. Never thought I would say it, but maybe ACT can get some sense into current politics. Gary

This week's poll asks:

Do you support the introduction of a capital gains tax?

*It clearly smells of "hit the rich B'st'rds", no wonder Mr Goff is called "Goof". Russell

*As to removing GST on fresh food and vegetables, it is electioneering stupidity. The one thing going for our GST is that it is uniformly applied. We have enough red tape without adding this. This will also open the door to lots of future special exclusions. Robyn

*This is the thin edge of the wedge. Labour are regressing, not progressing. Maggie

*And you had better pray that it does not put the Labour party up in the polls. Otherwise the poll-driven John Key National government will jump in with the same plan! John

*Don said, "Long overdue - & I'm someone who has made a huge capital gain on rental property." Don, that's easilly fixed. All you need to do is tell the IRD you are a trader and pay the tax! Do it Don. Bill

*Max said, "*Better than selling what few assets we have left to overseas landlords, and continuing to become serfs in our own country. Wake up!" Max, you are being conned by Labour. It's not a choice between CGT or partial asset sales - Labour has simply couched it that way to sell it to dumb-knuckles like you. JT

*Support??? You must be joking. Your comment "Labour takes a giant leap backwards", would be more accurate as "Labour takes a giant leap......into oblivion". John

*Of course it should be introduced. Your arguments for are based on very right wing ideology nothing more. Anne

*Not even if they reduce other forms of income tax. Also if there is a capital gains tax, then equally there should be an equal refund if there is a capital loss when an asset is sold. Grahame

*Only if comprehensive without exemptions, consistent maximum tax rates, no increase in total tax take and cuts in welfare expenditure. Peter

*An envy tax....just what you would expect Labour to promote. Ronmac

*This is an outdated tax move from an backward focused political dinosaur. Stick with it Phil; we want you to write your epitaph! Peter

*If labour and Phil Goff had any business skills at all they would lower taxes and make every effort to get NZ Ltd producing more goods to sell overseas. In World terms NZ is just a small business. We need every possible help from political parties to improve our production of goods and our sales. Reduce tax, reduce red tape and cut Government expenditure to the bone. Run the country like an efficient business and we would all benefit. Ernest

*Envy is one of the deadly sins Mr Goff - think about it - you will be damned for eternity!! Grant

*No I strongly oppose capital gains tax. Darryl

*All taxation is legalised theft. The less the better for everyone in the long run. DONRO

*The irony of the situation is that the labour government is stating that capital gains tax is in the various countries. What they however do not say is that in those countries you can claim your interest back from your taxes and the end of the financial year and also that in those countries you only have an interest rate of around 5.5%. So yes if they want to introduce capital gain then also provide the other advantages those countries have but I doubt that they will do that and therefore I do not support it. John

*And the worst kind of CGT is one which has so many loopholes everyone except the really stupid can find a way around it. Unfortunately so many people in NZ are financially illiterate that they understand almost nothing about finance and the economy beyond "tax the rich pricks". It never seems to occur to them that one day they might be rich. And, to all those who are firm believers in taxing the so-called rich (so that they flee to Australia) - I will happily support you in voluntarily donating more of your income to the Government, but please don't tell me to do the same. Gary

*If my property increase in value there is NO GAIN. All I can do is buy another house. Or does Labour believe I should get a 20% mortgage when I buy a replacement home. Mike

*You really need to think this through and not just blindly oppose all things Labour. I am a right wing supporter but I don"t think money earned in some cases should be tax free. Derek

*Enforce what we already have. eg Anything bought and sold with the intention of making a profit is taxable. Not introduce a tax on inflation. Gordon

*Send the "Greens" back to Greenland, and develop our mineral resources and gas reserves. If Korea, Japan, and others in the Northern Hemisphere come all the way down here to fish, "why on earth are we not capturing this markets great potential for ourselves...We could increase our fihing industry a thousand times over. Tax and stupid Green policy is killing our producers..So!, trim the Public service to the bone,then, cast a prophetic vision for New Zealand so we all don't perish. Max

*Its just yet more theft by govt, and its always againt those who work hard ansd try to succeed. Interesting how National think a system where 10% pay 70% of tax is "fair"! Lech

*There are already too many ways to tax people - all making more paper-work which means more trees being cut down for a useless exercise. Mary

*Definitely not, for all the reasons that have been found in the passed unworkable. Clark

This week's poll asks:

Do you support the introduction of a capital gains tax?

*Apart from the downside of its partial and selective introduction, I think the main point has been missed. The continual investment into property has distorted the values of real estate and particularly within the rural sector which is making it almost impossible for a young New Zealand farmer to own his/her own farm or indeed any young hard working person to achieve their dreams of owning their own homes. If not a CGT, then what other form of control or assistance could solve this problem? Ken

*Although it may seam as a draconian move, I believe it is enterprising at best. There are many forms of investment and this could give a better playing field for the rich. However I consider a transitional tax should be lievied on all transactions weather they are electronic or manual, by cheque or promisory note. If this is successful it could even be increased to replace the GST tax. Rawiri

*That is in general a tax on inflation. Graeme

*Why would you. Nothing more to say. Graeme

*Definitely NOT, what is he thinking of and if people vote for Labour based on this they are idiots. June

*Already pay the LION share of NZ tax. No incentive to stay here if they tax us more. Louise

*There is no capital gain on sale of an object unless a similar object can be ourchased cheaper than the sale price. Mal

*A CGT is not needed or wanted by the thinking part of our community. What we need is a broad based low rate of income tax with GST providing the balance needed to run the Goverment.

How about this as an Idea. Health Education and Social Welfare are the three main charges on Goverment and I might add the three worst administered. Why dont we set a limit on the tax that can be collected for these matters. Sorry I am not Treasury and therefore cant give correct amounts but lets say 5% of income tax relates to each. Then the flat rate of tax should be 15% and all other Goverment expenses to come from GST and Company Tax.

Also income supports such as Working for Families should be scrapped and the money left in the taxpayers hands in the first place. A tax free allowance for say the the first $10,000 could be given ( Say by allowances for children, interest on the mortgage for the family home, Kiwi saver contributions etc to a maximum of 10k You provide the receipts you get the allowance)

Now heres an idea Why not have Company tax based on turnover not profit. The collection system already exists ( GST Returns) As a basis lets say 2% of turnover then the Company will add to their GST payment 2% of turnover. Simple Yes Businesses that are loosing money will fail quicker but they will fail anyway but Business will now be really interested in profit as they are not going to loose 30% of it. Just some Ideas. Robin

*It speaks volumes about the ratbag Labour Party thought process when they even contemplate inflicting this sort of Tax on NZ. I think that these people won't be happy until they have screwed every drop of blood out of the economy. Would it not make more sense to grow the economy instead of strangling it? Peter

*It doesn't appear to be overly successful in life in this country any more. But then that's just what they teach in schools now. Steve

*The profit on an investment should be subject to tax. Mike

*With limits (investment properties nly)and inflation adjusted. Sandra

*Yet another, in a long line of glaring examples, of Labour's inherent inability to come up with workable, relevant policy. Yet another instance of Labour's failure to display the remotest trace of appreciation as to how the administrational implications would impact. Jim

*A giant step backwards in my opinion. Baron

*A Capital Gains Tax will stifle progress by diecouraging people from investing in productive companies on the Share Market, and be too ccomplicated to introduce. Gerry

*We really need foreign investment & a capital gains tax will not help. Peter

*You cannot multiply wealth by dividing it. That's what the bleeding-heart, tree-hugging, socio-communist lefties don't get. Mark

*Has anyone realised that by just increasing our exports would negate the reason for more and more taxes?
So instead of penalising Farmers and Exporters with stupid and silly environmental conditions; instigated by the Green ideology of fear. The Government and Labour should set conditions for an export drive. Also not instruct their Spin Doctors think up more reasons to tax us into oblivion. Well done Goff, trust a school teacher to come up with a typical impractical response. Brian

*The politics of envy have no place in NZ. We should put the wealth creators on a pedestal not tax the life and incentives out of them. Murray

*They say the devil is in the details. In addition to the potential 'hooks' your article mentioned, don't forget the potential to levy tax on 'paper' (that is-unearned) capital gain. 'Your property has increased in value Half a Million, pay the tax on that even if you haven't sold it!'. Graham

*There is no capital gain on sale of an object unless a similar object can be ourchased cheaper than the sale price. Mal

This week's poll asks:

Do you support the introduction of a capital gains tax?

*New Zealand needs far lower taxes, not more. Mike

*Please KIWIS, open your eyes!!! Jo

*We have a fundamental problem with our (and the world) government and that is they seem to think that if a little is good them more must be better - no way. We need less government. I would propose that the cost of NZ Goverment be kept to a fixed percentage of GDP - say 10%. This would then require that gov policies would need to enhamnce economic growth to get gov expansion as any gov expansion would only come when the economy expanded! There is a fundamental flaw in in NZ public service and that is salaries are based on turnover. This creates the corruption to increase turnover - by whatever means - to get an increase in salary, This needs to be stopped!! Ian

*The Labour/Green coalition is in panic mode, they can't suck people in any more as the masses (except of course their core group) are waking up, interesting that it was OK for Greens to have MP's on 4.2% of vote but ACT cannot (according to Goff and Green's) expect more looney vote grabbers as election comes closer. John

*Labour are bereft of ideas, or an original thought. Phil Goff is like a drowning man, going down for the third and last time, grasping on for anything. Come post election he will be gone, no doubt some cushy position will be found for him. Robert

*I would support it if it meant less tax in other areas ... but history tells us that that never happens! This sort of tax seems to work in America ...? Peter

*Just an extra burdon on the productive sector, massaged to make traditional labor votors think it is a fairer distribution of wealth. It is repugnant that cpi values of inflation is not taken account of. This also is another obstical for anyone of any political persuasion to get ahead and secure their future. Regarding Labors policy to make the first $5000 of income tax free: "does this mean that working for families will be axed"? Willy

*New Zealanders only wayto get ahead right now is through various capital gains type activities. Let the beneficiaries take a cut for a change. Richard

*Long overdue - & I'm someone who has made a huge capital gain on rental property. Don

*The proposed CGT should be scrapped because the so-called benefits to our "underclass" will be minimal at best after the bureaucracy to manage this white elephant has gobbled up the tax generated long before it finds its way down the chain.
The CGT will also have the effect of deterring those who would generate the wealth by investment and creativity to employ others. John

*The biggest worry, as identified, is how long before the tax become 20%. David

*CGT is an envy tax - supported by those with no investments, and not wanted by those who have invested in their own future. John

*Better than selling what few assets we have left to overseas landlords, and continuing to become serfs in our own country. Wake up!!! Max

*We currently own a family home and a rental property. If CGT was to be introduced in this country I would sell the rental straight away. If other rental owners follow similar examples, the effect would be a reduction of available rental properties. This would push up prices for those seeking rental accommodation. Lawrie