Labour's tax policy unveiled

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Thu, 14 Jul 2011 7:00p.m.

Phil Goff discusses New Zealand's worst kept secret; capital gains tax

Phil Goff discusses New Zealand's worst kept secret; capital gains tax

Today Labour leader Phil Goff unveiled the party's tax policy.

Should Labour govern after the November election, GST will be removed from fruit and vegetables, there will be a new top tax rate of 39 percent on income above $150,000 and the worst kept secret in New Zealand, capital gains tax on property set at 15 percent.

Phil Goff joins John Campbell in the studio.

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Comments

20 Jul 2011 07:49p.m.

Jo wrote:

Impartial as I am ... I almost choked on my muslei hearing Phillip Goff have the audacity to discuss selling SOE's as it was his party elders that sold the family jewels. - nah don't worry they have NO chance of being elected as they are wollowing in embarrasing times!

19 Jul 2011 09:18a.m.

James Westaway wrote:

1. Goff is saying we shouldnt sell state owned assets but Labour started the sell off in 1984.

2. Goff says that the CGT wont cause property prices to fall and in the same breath says it will bring back affordability. How can this be? House values are currently 6.5 years average income against a long term trend of 3.5 years average income - i.e. 46% overpriced. If property just keeps up with inflation, how can it ever become affordable?

18 Jul 2011 11:14a.m.

Alien wrote:

chris, yes, because kiwi-savers heavily invest in the share-market and other areas. CGT will apply to profits on those. sadly people like clarke do not have the intelligence to realise it is the people NZ needs that left under labour which lead to a big brain drain. Clarke would rather the uneducated morons like themselves left behind.

17 Jul 2011 06:48p.m.

Clarke wrote:

Cya chris.. the country will be much better without you... well at least it will have slightly more morality with you gone at least.

16 Jul 2011 11:49p.m.

Paul wrote:

Phil Goff wisely states that the CGT will not be retrospective. Yet Labour introduced legislation on the Emissions Trading Scheme in 2008 which was made retospective for forest owners prior to 1990. This has very large capital liabilities for land clearing of forest planted prior to 1990 to pasture! Disproportionate compensation is on offer and other sectors of the economy enter much later to the ETS. Where is the equity in what Phil says? Who would trust politicians?

15 Jul 2011 12:38p.m.

Chris wrote:

Can someone please tell me, "Will Labour also take CGT from KiwiSaver"? If they get it from me then it should also include KiwiSaver too! Higher Taxes, Capital Gains Tax, what's next? Aussies starting to look good!

15 Jul 2011 11:30a.m.

Ivan Lonsdale wrote:

I watch your program every evening, last night seeing Mr Goff made me want to vomit, Labour put the GST on everything, we are the only country that would tolerate paying TAX on TAX, NOW HE WANTS TO TAKE IT OF FRUIT AND VEGETABLES, WHAT HAPPENED TO ALL THE SURLUS WE HAD BEFORE NATIONAL won the last election, Labour has a lot to answer before I would vote for them.