In 2000, then-Finance Minister Michael Cullen said the suggestion of a capital gains tax for New Zealand was extreme. Sir Michael Cullen says, although he once called a capital gains tax "extreme, socially unacceptable and economically unnecessary", he has since changed his mind. The chairman of the Tax Working Group has been leading the charge for a capital gains tax. ROSA WOODS/STUFF Capital Gains Tax: will it hit KiwiSaver and what did Winston mean? "The Government is not interested in a capital gains tax, either in the short or the long term," his spokesperson was quoted as saying.

Source: Stuff March 10, 2019 23:15 UTC