Killer question for Cunliffe on CGT.
How much will itÂ cost to implement?
The IRD is in the process of spending about $1.5BÂ replacing their current software.
I can be pretty sure that CGT hasÂ not been factored into that. The cost will mostly be upfront and willÂ be 100s of millions of dollars.
This does not even count the wholeÂ compliance costs. Lawyers and accountants will be collectivelyÂ licking their lips.
Best guess it will take at least 3 years to putÂ in place and will be cash negative for at least 7 years.
Why doesn’tÂ anyone ever ask these questions?
Too busy looking at private emails IÂ guess.