OPINION: Whatever the shape of the next government it will need more revenue to deal with the multiple effects of Covid-19. A net wealth tax is quite different from a capital gains tax, which can be perceived to inhibit enterprise. The tax would apply to all New Zealand citizens and permanent residents with net assets over this amount. Incidentally, a net wealth tax encourages the productive use of assets. Parents need sufficient to give their children a positive start in life; and to the extent that this requires state support we need to provide it.

Source: Stuff August 24, 2020 16:52 UTC