Labour's CGT: 'the moderates have won'

The ghost of Michael Cullen can be detected in the Labour CGT policy (Image: NZME)

Tue, 28 Oct 2025

Early reaction from tax experts to the Labour Party’s new capital gains tax proposal is that it is a limited extension of existing policy that could be widened in the future if the public accepts it.However, many doubt that the policy will raise the projected $700 million annually to pay for doctors’ visits.“It’s sensible as far as it goes,” said Geof Nightingale, a member of the last Labour Government’s Tax Working Group (TWG), although he questioned how narrow the intended range of taxable assets would...

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