Wealth tax nz

Prime Minister Jacinda Ardern has been perceived as "softening her line on wealth taxes" – and therefore being open to the introduction of a new type of ...

All of this is very sensible, and to be expected – especially from a leftwing party in power. Of course, wealth taxes are often confused with capital gains taxes – the latter is a subset of the former. He also announced a proposed law, the Tax Principles Bill, that would include "principles" to assess future tax changes against. A case could be made that a tax on wealth would be advantageous for the vast majority of taxpayers, especially if it involved a reduction of taxation on those on lower or middle incomes. As Ardern herself said at the time, the tax wouldn't raise much money due to "the fact that people would change the value of their assets to avoid tax, the fact that people will often move funds offshore". The Greens, in fact, have set the parameters for what they think is possible with their 2020 election proposal for a wealth tax. The left know that a wealth tax would help fund many social goods desired by leftwing voters and would help enable redistribution at time when inequality of wealth is extraordinarily bad. A 2023 wealth tax discussion is likely to face a similar lack of leadership. The likelihood of a wealth tax is also significantly reduced by the fact that modern political parties only operate domestically in a highly globalised world. The right wants to believe a new tax is coming because it will allow National and Act to run a popular campaign against an overtaxing administration. Prime Minister Jacinda Ardern has been perceived as "softening her line on wealth taxes" – and therefore being open to the introduction of a new type of progressive taxation on the rich. His interpretation was shared by many on the political right, who also stated that Ardern and Labour were obviously considering a new tax on assets.