The Resource The taxation of residential property, tax complexity, equity and economic efficiency : how do current legislative developments compare with CGT?

The taxation of residential property, tax complexity, equity and economic efficiency : how do current legislative developments compare with CGT?

Label
The taxation of residential property, tax complexity, equity and economic efficiency : how do current legislative developments compare with CGT?
Title
The taxation of residential property, tax complexity, equity and economic efficiency : how do current legislative developments compare with CGT?
Creator
Subject
Language
eng
Summary
Recent successive legislative attempts to "fill gaps" in New Zealand's tax base are just the latest additions to a long history of patchwork amendments to New Zealand tax legislation concerning the capital/revenue boundary. This approach has resulted in the 2015 two year bright-line test related to capital gains from investment in residential property, the 2018 extension of this bright-line test to five years and legislation introducing the ring-fencing of losses on investment in residential property for tax purposes on a general basis. In this context, and allowing that a comprehensive capital gains tax (CGT) substantially and more comprehensively addresses the issues motivating these successive legislative developments, it is open to enquire if the issue of compliance costs and tax base integrity, as well as horizontal equity and economic efficiency are better served by re-visiting the introduction of a comprehensive capital gains tax, rather than by piecemeal successive legislative amendments that inherently single out a sector of economic activity for special treatment
Citation source
In: New Zealand journal of taxation law and policy. - Wellington. - Vol. 26 (2020), no. 4 ; p. 407-430
http://library.link/vocab/creatorName
  • Sutton, D
  • Parker, J. (Jeremy)
  • Lake, A
Geographic coverage
Pacific Islands
Language note
English
http://library.link/vocab/subjectName
  • capital gains tax
  • tax system
  • immovable property
  • losses
  • ring-fencing
  • horizontal equity
  • domestic tax law
Label
The taxation of residential property, tax complexity, equity and economic efficiency : how do current legislative developments compare with CGT?
Instantiates
Publication
Label
The taxation of residential property, tax complexity, equity and economic efficiency : how do current legislative developments compare with CGT?
Publication

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