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Article: Capital gains tax is viable ... and
perfect for the financial climate
.

Article from:
New Zealand Herald (Auckland, New Zealand)
Article date:
December 17, 2008
Copyright

T HE apparent cursory dismissal by Prime Minster, John Key, and his deputy, Bill English, of the Treasury proposal to introduce a capital gains tax may be to my advantage tax-wise. But for issues like this it is useful to put our personal interests aside.

If one looks at the whole picture objectively, taxing earned income and completely exempting capital gains seems to be neither fair nor sensible.

Why should one person pay tax on the $50,000 a year they earn from their job, while their neighbour gains the same amount tax-free from selling shares that have appreciated in value? In the end, a dollar is a dollar, no matter where it comes from.

...

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