No CGT

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The Coalition Government will not proceed with the Tax Working Group’s recommendation for a capital gains tax, Jacinda Ardern announced today.

“The Tax Working Group gave the Government, and the country, an opportunity to look at the fairness of our tax system and debate options for change,” Jacinda Ardern said.

“All parties in the Government entered into this debate with different perspectives and, after significant discussion, we have ultimately been unable to find a consensus. As a result, we will not be introducing a capital gains tax.

Oh dear, yet another defeat for the COL. Now can that odious prick Cullen fuck off once and for all.

49 COMMENTS

  1. “Now can that odious prick Cullen fuck off once and for all.”

    If only. Leftards worship him since apparently he did well in a Bull Market (even though NZ was actually in recession 2007 seems to escape them). Now, if he’d done well in a Bear Market, I’d have to concede that he was a decent Finance Minister.

    (Any fool can make money in a Bull Market)

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    • He wasn’t too flash in his last term and particularly his last year where he squandered taxpayers money like there was going to be no tomorrow. He was right because for him it was all over but it took Bill English five or six years to sort the mess out.

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  2. Winston is claiming Victory,

    I`ll just repost this here.

    On the 21st of February, the independent Tax Working Group submitted their final report to the Coalition Government. Their recommendations have had high public interest, especially the recommendation to extend the current Bright Line test to a more comprehensive capital gains tax regime.

    New Zealand First wanted New Zealanders to have time to discuss and debate the contents of the report. We thank those who took the time and effort to contact us, and those who took our online survey.

    We heard the feedback of our members, and the wider public.

    We listened very carefully to your sentiments and concerns.

    We acted by taking your feedback to consultation with our coalition partners.

    We welcome Cabinet’s decision not to implement an extension of capital gains taxation, following the Prime Minister’s statement in response to the Tax Working Group Report.

    This decision will provide more certainty to New Zealanders, and because the last National Government already brought in a capital gains tax through the Bright Line test, New Zealand First’s view is that there is neither a compelling rationale nor mandate to institute a comprehensive capital gains tax regime.

    Current tax policy, rigorously enforced by an Inland Revenue Department properly resourced will by itself

    Improve the administration of existing tax policy, and

    Target those multi-nationals not paying their fair share of tax
    We also welcome the announcement that the coalition government will be urgently exploring options with the Inland Revenue Commissioner, in concert with central and local government, for taxing vacant land held by land bankers and reviewing the current rules for taxing land speculators.

    Tightening these rules was a priority for New Zealand First.

    We thank those who have provided their views on this issue,

    We heard, we listened and we acted.

    Rt Hon Winston Peters

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    • Once again Peters either doesn,t understand the bright line test or is twisting/spinning his explanation. What the bright line test does is define a time period during which a purchase and sale of property will be considered made with the intention of profit and that profit will become part of the sellers income for that tax year. Peters will need to point out the Tax legislation that categorizes such profits as a CGT, other wise Peters is Incompetent or Liar possibly both.

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  3. So how much did the TGC working group cost the taxpayer? Let no one complain about National wasting dollars on a symbol for NZ when that odious little Cullen after has been sucking long and loud on the taxpayer for it all to come to naught. If you overtax those paying the tax it will only end one way.

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  4. Cindy admitted at the announcement of there would be no GST but that she personally was in favour of the CGT. Her ideology has her convinced in the fairness of her tax and is she hoping instead of showing she has been gazumped, her supporters will reward her at the next election? Or was it downright politically stupid to show her hand instead of just going with the more politically neutral of “Cabinet were unable to reach consensus”

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    • Speaking of ideology, will the Green Party remove themselves from the 2020 election? After all, he did say that the government doesn’t deserve to be reelected unless it implemented the CGT? It stands to reason, that if the Green Party had any integrity whatsoever they should resign.

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  5. Cindys ended up with her knickers around her ankles with this!
    Cullen still the most despised man in NZ. Yes, worse than Brandon Tarrant!
    Hopefully Cullen will slink of into the sunset and never be heard off again!
    You stuffed up Labour, with appointing Cullen. Cindy and GR, been quiet as church mice, (did they know back at christmas it had died but still paid him a shit load of dough, was he short?)
    Was Whinney doing some electioneering here? Is he worried, that he’s out on his ear and Shane is not working!
    I just hope that Cindy’s not having a lawnmowering party, just to put on her happy face!

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  6. I am eagerly waiting to see how this loss of face will be spun into gold by our sycophantic media. Labour put their heart and millions of our dollars into this. To now back down as if nothing was wrong?

    Worst government ever.

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  7. Crowing never gets you anywhere. Jacinda has been unable to get the support in this coalition. This is what you expect in a grouping as diverse as this Govt. Now Simon has an even bigger job of staying as your leader.

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  8. The blame can only come back at Jacinda. Her poor political nouse in thinking she had the support, when Winston was not having a bar of it, shows how inept she really is. The greens will be out next election. They are worse than useless. Virtue signalling and name calling doesn’t go down well with most thinking voters.

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  9. Just don’t start with a “thank god for Winston” diatribe anyone, if that smarmy prick hadn’t gone with liars and losers of Labour, none of this would even be discussed. The quicker he meets his 72 Virgins the better. And who the fuck even thinks of Silly Little Cindy with her knickers around her ankles. Begone Satan, this is a reverent blog, we don’t need that kind of mental filth to adle our brains!

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  10. Email from National. They are on it quickly.

    Dear Pascal

    Today, Jacinda Ardern has finally released her Labour-led Government’s response to imposing a Capital Gains Tax on hard working New Zealanders: It’s a humiliating backdown.

    After campaigning on a Capital Gains Tax for 3 elections and making it a cornerstone of Labour’s election policy in 2017, Jacinda Ardern has finally come to the realisation that the New Zealand public don’t want it, and she doesn’t even have the support ofher own Government to deliver it.

    Thanks to the incredible support of members and supporters, like you, National has been front and centre of exposing how such a punitive tax would hurt Kiwis, their families, and our economy.

    Your support, and National’s relentless opposition to the Capital Gains Tax, has delivered this humiliating backdown and we couldn’t have done it without you.

    We believe that New Zealanders should keep more of what they earn. Aspiration and ambition to do well for yourself and your family should be embraced, not punished by more and more taxes.

    Make no mistake, Jacinda Ardern still believes in a Capital Gains Tax, and if she could’ve, she would’ve delivered one today.

    The question remains, if Jacinda Ardern can’t deliver on her promises, what’s the point of her Government? And what otherpolicies is she going to back down on?

    We need to keep fighting hard on the issues that matter, and for the values we all share.

    Click here to chip in to our Fighting Fund today!

    National is working on a plan to deliver a more ambitious and prosperous New Zealand, and unlike Jacinda Ardern and Labour, we’ll actually deliver it.

    I hope we can count on your support.

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  11. Oh its hets even mor delicious. From Face book this morning.

    A backdown of epic proportions: the capital gains tax (CGT) is dead.

    “Of course, it’s disappointing that we’ve been unable to reach consensus,” Prime Minister Jacinda Ardern said on Wednesday.

    Translation? Two words: Winston Peters.

    Ardern was asked at her press conference in Wellington if Peters’ New Zealand First party bullied Ardern’s Labour Party into making a decision.

    She replied: “No.”

    Then there is this.

    https://www.facebook.com/Newlandburling/photos/a.1414429085460258/2400124250224065/?type=3&theater
    NZ first claiming they did it.

    And then of course there is this little gem

    Co-leader James Shaw held a press conference on Wednesday, and he was asked if the announcement was the biggest dead rat the Greens have had to swallow so far.

    “I don’t kind of rank my list,” he replied.

    In February, Shaw even questioned whether the Government deserved to be the Government again if it couldn’t implement a CGT.

    “The only question we should be asking [is] do we deserve to be re-elected if we don’t?”

    Confused?
    The only MP who came through all this with sense is David Seymour.
    We don’t need rabble like this lot.
    vote Act.
    Principled policies.

    And i’m not an Act member cause I just don’t have he time .

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    • Co-leader James Shaw held a press conference on Wednesday, and he was asked if the announcement was the biggest dead rat the Greens have had to swallow so far.

      “I don’t kind of rank my list,” he replied.
      I interpret this as Shaw thinks his MP’s are dead rats as the Greens are all list members – am I right?

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  12. https://www.nzherald.co.nz/world/news/article.cfm?c_id=2&objectid=12223281

    A man who killed a respected Otago-trained heart surgeon with a single punch has been jailed for manslaughter.

    Joseph Esmaili, 24, punched Patrick Pritzwald-Stegmann in the head in May 2017 inside Box Hill Hospital.

    The heart surgeon was on his way home after a shift when he saw Esmaili and his friends smoking cigarettes near the hospital entrance.

    He was told by Esmaili “you need to suck my d***” and punched once in the head before he fell to the ground and landed hard on a tiled floor.

    The 41-year-old was hospitalised for a month before he died.

    This morning in the Victorian Supreme Court Judge Elizabeth Hollingworth sentenced Esmaili to 10 years and six months in jail.

    Esmaili is the first Victorian to be sentenced under new fatal one-punch laws which carry a minimum jail term of 10 years.

    He will not be eligible for parole for 10 years.

    ===========================================================

    Now that’s getting it right.
    We need Mr Garret here.

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