NZ Government rules out Capital Gains Tax

NZ Prime Minister Jacinda Ardern has said the government will not proceed with a proposal to implement a Capital Gains Tax (CGT).

Prime Minister Ardern stated that all the parties in the government could not find an agreement or consensus on a CGT. As a result, no CGT will be introduced.

However, the government will still look to target land-bankers and property speculation.

Simultaneous to the CGT news, Chin released GDP, Retail Sales, and Industrial Production figures – they all meet or exceeded expectations.

Current indicative levels are:

NZD-USD 0.6715 / 0.6740
NZD-AUD 0.9335 / 0.9360
NZD-EUR 0.5940 / 0.5965
NZD-GBP 0.5145 / 0.5170
NZD-JPY 75.20 / 75.45

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