Bruce Bernacchi: Dentons Tax Partner reviews potential impact of Labour's Capital Gains Tax
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Bruce Bernacchi: Dentons Tax Partner reviews potential impact of Labour's Capital Gains Tax
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Early this morning, the Labour Party made a surprise Capital Gains Tax announcement.
The targeted tax would raise funds for the health system, including three free doctors' visits per year.
The tax wouldn't apply to the family home, farms, KiwiSaver, shares, business assets, inheritances, and personal items.
Dentons Tax Partner Bruce Bernacchi told Kerre Woodham that, "people will call it a capital gains tax when it's actually not, because it's extremely targeted just on property."
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