How many will get caught up by a CGT?

Troy Bowker writes:

If you add up the number of people who have retirement savings, own small and medium size businesses or own part of a family bach, it  covers the vast majority of the all important middle class in New Zealand society.
Approximately 2 million New Zealanders have Kiwisaver accounts or invest in other managed funds. 
There are 600,000 small and medium size business owners in New Zealand.  There are over 250,000 baches, often jointly owned by families.

Yep, every small business owner in NZ will get caught. Every bach owner. Every person with any capital investments. Anyone who owns a lifestyle block over 4,500 square kms.

Oh, and on top of all that, anyone who has parents who die.

You may not get caught by the CGT initially, but you will eventually. The old saying is that nothing is certain except death or taxes. Well Cullen’s CGT will make that doubly true by taxing you when your parents die (unless you move into their old house).