Mallard again on Capital Gains Tax

Trevor Mallard has had a lot to say about capital gains tax over the years. He says explicitly on Agenda in 2007 that it would be a bad thing and Kiwi’s don’t want it.
TREVOR On the question of a tax rate I just don’t think New Zealanders would take a capital gains tax of the sort that’s in Australia so it’s just not politically acceptable in New Zealand.LISA But they might take some of the personal tax rates that Australians have got, what about that?

TREVOR Oh you’re suggesting that we should sort of pick the nice bits of the Australian tax system but not the bit that raises the revenue?  See that’s just not a realistic approach to take, and I think if you were having a common taxation system which I don’t support you’d have to take the whole package, you’d have to have the stamp duties when you sell your house, you’d have to have the capital gains tax, you’d have to have the much higher rate on higher incomes than we do, and to get that package you’d have to have the 9% employer contributions to superannuation and so it’s a big change in the package and I think it’s one that would be very hard to sell politically in New Zealand.

I wonder why the about face on capital gains tax from Labour?

It certainly looks like Labour hasn’t thought this one through.


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  • abjv

    Not just Trev.

    Labour Party Leader Phil Goff has made a myriad of promises to New Zealand in regards to his party’s future taxation ideas. On the 12th of September at a Labour Party conference in Rotorua, Phill Goff, Labour Party leader vowed that if Labour were to be re-elected there would be no rise in personal taxation, GST or introduction of Capital Gains tax

    Umm, Phil, please clarify – did you mis-speak then, or now?

    The concession on the capital gains tax remains that it applies exclusively to first homes and not investment and rental properties

    This refers to Labour conceding a CGT is ok if applied to investment and rental properties, not first homes.

    Note the wording.

    “First” homes.

    Not “family” homes.

    Think in terms of ‘first home buyers’. I sold my first home and bought another, when the kids arrived and we didn’t fit. I no longer own my first home. Let’s see Phil’s wording next week – does he still want to tax the family home if it isn’t your first home like he did in September 2009?

    • Doc

      That is actually a confusing site. It looks like they have taken two speeches and doctored them together without acknowledging the second speech.
      Does anyone else get that feeling?

  • kevin

    labour is a clowns party simply put. Every utterance is misguided. I have yet to see anything that makes sense or would be helpful to a NZ recovery. Bewildering.

    • reid

      I have yet to see any­thing that makes sense or would be help­ful to a NZ recov­ery. Bewildering.

      Not really kev. They don’t give a fuck about what would be helpful to a NZ recovery, they only care about policies that don’t hurt their base but does hurt ours, assuming you’re a typical conservative, old boy.

      The wretched beasts insist on thinking your average middle-class couple with one or two renters is a “rich-prick.” I wonder if the middle-class housewife Green voters have any of those? Golly. What is the Green response to this? Let’s hope they support it, full on.

      But they do, don’t they. Just cause their base is poor as a church-mouse to a man and woman including their own caucus, I mean they’ve only got about $5k in the bank for the election, haven’t they? Just cause they and their base is so poor, they think everyone else should be as well.

      Gosh yes this policy is very hard to shoot down.

      It’s going to be interesting to see what National’s and John Ansell’s attack ads do with this.

      • kevin

        I get that… labour are about ‘them’ not us NZers. It’s all getting a bit hard to stomach actually. In fact ‘they’ are pissing me and lots of others off… big time.

  • royaloaks

    Saw on TV today Mallard in Parliament. I watched him for a while and came to the conclusion that he is just a dumb loudmouth that loves attention. If I was Lockwood Smith I would boot him outside the chamber.

  • reid

    This is a bit like the 17 state asset sales worth $9,490,000,000 that Phil sold in his day.

    Trev won’t care though, his job is to go to the factories and there are a lot of them in his electorate. They don’t care about stuff like this.

    But we do so how say you Trev?

    How come the turn-around, flip-flop, et al, as we say…


  • thor42

    It’ll be interesting to see the first couple of polls after this policy announcement (er…. “leak”).
    Hopefully the “swinging voters” out there will see the word “tax” and be well and truly turned off by it.