Voter concerns over capital gains tax

9 Apr 2019

A Reid Research poll commissioned by BusinessNZ has found significant voter concerns about a capital gains tax.

The poll, conducted in mid-March, asked whether respondents supported a capital gains tax on property, business assets, shares and KiwiSaver.

CGT on property and business assets:

A majority of Labour and Green voters agreed with a capital gains tax on property and business assets, while a majority of National and NZ First voters disagreed

CGT on shares and KiwiSaver:

A majority of voters from all major parties disagreed with a capital gains tax on shares and KiwiSaver

BusinessNZ Kirk Hope said the poll indicated a significant divergence over whether property and business assets should be capital gains taxed, and a clear vote against taxing gains on shares and KiwiSaver.

He said a majority of voters from all parties did not think that introducing a capital gains tax should be a priority for the Government.

Summary findings:

Do you think there should be a capital gains tax on the profit made from the sale of a property which is not the family home?

  • Labour voters: majority yes
  • Greens voters: majority yes
  • National voters: majority no
  • NZ First voters: majority no

Do you think there should be a capital gains tax on the sale of things that contribute to the economy of the country, things such as businesses both large and small, and farms?

  • Labour voters: majority yes
  • Greens voters: majority yes
  • National voters: majority no
  • NZ First voters: majority no

Do you think there should be an additional capital gains tax on earnings on KiwiSaver?

  • A majority of voters from all major parties: no

Do you think other invested savings – things like NZ shares – should be further taxed with a capital gains tax?

  • A majority of voters from all major parties: no

Do you think introducing or implementing a capital gains tax be a priority for the Government?

  • A majority of voters from all major parties: no

The Reid Research Capital Gains Tax Poll is on www.businessnz.org.nz