National will abolish any CGT

Stuff reports:

If elected, and if the Government legislated a capital gains tax, would get rid of it, Bridges said.

He also said National would increasing funding for core public services like health, education and transport.

“So when we see tax relief for every New Zealander replaced by a $3 billion regional slush fund which resulted in $160,000 of trees being mulched, or a $2.8b fees free policy that saw 2400 fewer students in tertiary education, and at least $250m on 190 working groups because the Government didn’t do the work in Opposition, we know they’re not spending wisely.

As I understand it the Government plans to pass the legislation for its capital gains tax before the election, but to take effect from 1 April 2021. So if the Government is not re-elected then the law will be repealed.

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