WEALTH TAXThe Greens have made clear their desire for a wealth tax on personal wealth of more than $1m. There was limited scope to move on income tax rates, he said. He said the advantage of a land tax over the politically unpalatable CGT was that a CGT could be volatile when there was a recession. Its current tax policy work programme for 2019 and 2020 covers land, business, infrastructure, information collection, business transformation, reforms, social policy, the tax treatment of charities, tax exemptions and international tax issues. Baucher said the Government had not imposed an income tax rate higher than 40 per cent since the late 1980s.

Source: Stuff July 04, 2020 17:15 UTC