“Jacinda Ardern effectively introduced a capital gains tax (CGT) today, breaking one of the biggest promises of her political career - one that she staked her job on.
Instead of saying she wouldn't implement one this term, Ardern went all in and ruled it out forever. She then went on to say she'd resign before she'd introduced a CGT. Finance Minister Grant Robertson even ruled it out. No new taxes was the promise.
The bright-line test is a tax on capital gains. It is a capital gains tax, full stop. And at 10 years, it's a comprehensive capital gains tax on property... capturing far more 'mum and dad investors' selling up for a greater variety of reasons.
Labour chose to not be upfront with voters during a campaign, break a massive promise, and introduce a new tax by stealth.
She chose popularity over party, politics over ideology, power over her people.”
Source:
https://www.newshub.co.nz/home/politics/2021/03/tova-o-brien-jacinda-ardern-and-the-mother-of-all-broken-promises.html
Instead of saying she wouldn't implement one this term, Ardern went all in and ruled it out forever. She then went on to say she'd resign before she'd introduced a CGT. Finance Minister Grant Robertson even ruled it out. No new taxes was the promise.
The bright-line test is a tax on capital gains. It is a capital gains tax, full stop. And at 10 years, it's a comprehensive capital gains tax on property... capturing far more 'mum and dad investors' selling up for a greater variety of reasons.
Labour chose to not be upfront with voters during a campaign, break a massive promise, and introduce a new tax by stealth.
She chose popularity over party, politics over ideology, power over her people.”
Source:
https://www.newshub.co.nz/home/politics/2021/03/tova-o-brien-jacinda-ardern-and-the-mother-of-all-broken-promises.html