Capital gains tax proposal sends nervous tension through farmingFederated Farmers wants an agri-sector representative on the Tax Working Group. A capital gains tax (CGT) will not go down well with farmers, but it might also not earn a lot of revenue, a tax specialist says. Crowe Horwath tax specialist Tony Marshall says a capital gains tax might encourage overspending on the family home. READ MORE:* Jacinda Ardern tells Kelvin Davis off over capital gains tax comments* Labour defends capital gains taxHowever despite such a proposal sending "nervous tension" through the farming community, farmers could comfort themselves that historic capital gains since they bought their properties would be preserved. Besides not being very lucrative, a capital gains tax might also encourage bad habits.

Source: Stuff December 28, 2017 01:52 UTC