Is Labour's new policy a watered down capital gains tax?

Labour has announced what some are describing a “watered down” version of a Capital Gains Tax. This targeted CGT would affect profit made after July 2027 from selling a commercial or residential property, excluding the family home. Leader Chris Hipkins promises nine out of 10 Kiwis won’t pay tax on what they own, and it’ll allow everyone to get three free doctors visits a year. On the flip side, National’s calling it an “attack on investment and savings” - with Finance Minister Nicola Willis saying it would “put New Zealand’s economic recovery at risk”. Today on The Front Page, Infometrics economist Brad Olsen is with us to dive into the details of Labour’s latest pitch to the public. The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts. See omnystudio.com/listener for privacy information.