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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