New taxes could change bad behaviours, suggests Sir Michael CullenROSS GIBLIN/STUFF Sir Michael Cullen, left, says the Tax Working Group has a very large task in front of it. A wealth tax, a tax on financial transactions, a broader capital gains tax, a land tax and new environmental taxes will all be options considered by the Tax Working Group, its chairman Sir Michael Cullen says. KIRK HARGREAVES/STUFF Taxes are normally higher in richer societies than poor ones, says Sir Michael Cullen. "The most obvious area of narrowness is the very limited scope of our current capital gains tax regime. Deloitte tax expert Bruce Wallace said a broader capital gains tax or a wealth tax was "clearly part of the current consideration and debate".

Source: Stuff March 05, 2018 01:40 UTC