The Resource "The game is not worth the candle" : exploring the lack of a comprehesive capital gains tax in New Zealand

"The game is not worth the candle" : exploring the lack of a comprehesive capital gains tax in New Zealand

Label
"The game is not worth the candle" : exploring the lack of a comprehesive capital gains tax in New Zealand
Title
"The game is not worth the candle" : exploring the lack of a comprehesive capital gains tax in New Zealand
Creator
Subject
Language
eng
Summary
Although the New Zealand income tax system taxes some capital gains, there has been a general reluctance to introduce a comprehensive capital gains tax (CGT). This article explores some of the possible reasons why this might be so through a consideration of the historical context, the specific captal gains taxed in New Zealand and the numerous reports that have considered, and rejected, a comprehensive CGT. Land played a central role in New Zealand colonial society, and making "land traffickers" subject to income tax is apparent from the earliest days of income tax. The levying of income tax on certain types of gain from certain types of transaction was a targeted, specific policy choice. Secondly, through most of the 20th century there was a strong capital base was a matter of importance and taxation of capital growth was inconsistent with that objective. Finally, there has been a consistent rejection of a comprehensive CGT for practical reasons. The author suggets that it is a culturally specific interweaving of factors such as these that has made New Zealand a somewhat infertile ground for the introduction of a comprehensive CGT
Citation source
In: New Zealand journal of taxation law and policy. - Wellington. - Vol. 21 (2015),
http://library.link/vocab/creatorName
Griffiths, S
Geographic coverage
Pacific Islands
Language note
English
http://library.link/vocab/subjectName
capital gains tax
Label
"The game is not worth the candle" : exploring the lack of a comprehesive capital gains tax in New Zealand
Instantiates
Publication
Label
"The game is not worth the candle" : exploring the lack of a comprehesive capital gains tax in New Zealand
Publication

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