NZX and SIA say no capital gains tax on retail investment in shares

Mon, 19 Nov 2018

By Jenny Ruth Nov. 19 (BusinessDesk) - Imposing a capital gains tax on investment in New Zealand shares runs the risk of discouraging direct retail investment, damaging the nation’s capital markets. It could also create an unlevel playing field between direct investment and investment through Portfolio Investment Entities or PIEs. That’s the gist of a joint NZX and Securities Industry Association (SIA) submission to the Tax Working Group. “We are concerned that extending capital income taxation to investments in New Zealand shares ....

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