OPINION There are a couple of pieces of evidence to suggest may Labour may want to go to the next election proposing an inheritance tax. If the Government is going to consider an inheritance tax, commissioning such research was probably going to be a necessary first step. If anyone had asked the Tax Working Group how much any type of inheritance tax would raise, it wouldn’t have been able to give any kind of answer. Responding to questions from National Party MP Nicola Willis, Parker said he was “not planning a wealth, inheritance or death tax”. In New Zealand, an inheritance tax that had a tax-free threshold like Britain's of up to £1 million (NZ$1.98m) for a married couple, would also be likely to mainly tax income that hadn’t previously been taxed.

Source: Stuff July 17, 2021 16:52 UTC