New Zealand is facing the possibility of the largest change in taxes since the introduction of GST in 1986. Taxes on wealth, capital gains and unhealthy products have all been keenly debated since the call for submissions on March 1. Sir Michael now says capital gains tax and land taxes will be among the most contentious issues under discussion. Supporters of capital gains and wealth taxes say it is important the rich pay their fair share but direct income from investments is already taxed. In retrospect, National should have cut taxes earlier rather than talking about it, thereby challenging Labour to put them back up.

Source: Otago Daily Times March 18, 2018 16:07 UTC