400,000 lifestyle blocks will get hit with CGT

The Herald reports:

More than 400,000 lifestyle blocks could be affected by the proposed capital gains tax.
Figures from Land Information released to the National Party show there are 403,883 freehold properties around New Zealand that are greater than 4500 square metres.

And the proposed will hit each and every one of them.

National Party leader Simon Bridges said the 403,883 figure included about 50,000 farms.
But it did not include those who ran a business from home, or who had flatmates.
“They would also be subjected to a CGT.

Yep. This proposed CGT won’t just hit people with second homes. It will affect hundreds and thousands of people who have just one home.

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