The Government will make an announcement on a capital gains tax later today, the New Zealand Herald understands. Labour MPs will meet in a conference call at lunchtime today, and an announcement will follow. The subject of the tax has been hotly debated since the Tax Working Group reported back in February, recommending a CGT and using the money gained to lower personal tax rates and to target polluters. The group recommended a CGT that would cover assets such as land, shares, investment properties, business assets and intellectual property. Before the working group even reported back, leader Winston Peters said that any CGT would not affect the farming community.

Source: Otago Daily Times April 16, 2019 21:11 UTC