CPA Australia, representing over 3,000 accountants in New Zealand, is urging a comprehensive tax system overhaul, including the introduction of a capital gains tax (CGT), in response to Inland Revenue’s long-term fiscal warnings.
Highlighting issues such as an aging population, rising pension and healthcare costs, a narrow tax base reliant on income tax and GST, and declining productivity, CPA suggests reforms like a CGT on future asset purchases, land taxes, indexed tax brackets, and compulsory KiwiSaver.
Chair Angus Ogilvie told state-funded legacy media that without structural changes, New Zealand faces a long-term deficit, and solely relying on economic growth is unlikely to bridge the gap. CPA rejected a wealth tax, citing capital flight risks, and acknowledged GST hikes may harm lower-income earners unless offset by welfare adjustments.
Image credit: Benham Norouzi
Here we go, who didn’t see this coming? No a better solution would be to end wasteful government with full transparency and accountability, for public expenditure. If this happens too, it removes one of the few genuine reasons, for people with assets, to remain in New Zealand and not move to Australia, where there are more jobs and superior healthcare.
Taxation is theft!
NZ had a user pays retirement fund set up in the 1970’s but the Govt dismantled it and spent all the money and told us they would fund super with taxes, so the government shill accountants can go fu*k themselves with their calculator and mind there own business.
Accountants displaying their complete ignorance of money creation. Taxation is nothing but a facade for social control so people think their taxes are actually contributing to society. Governments don’t need taxes to fund the State.
Totally agree to comments above.
Accountants everywhere have been part of the tax extortion system and are now facing EXTINCTION by AI.
They are like so many other benign systemic water-carriers who slowly realize how they have also been used by the sheeple shearing bankster cabal. The middle men are being made redundant.
Nz has CGT already – it’s called bright line test.
No govt in nz can be trusted with more income from taxes when they have repeatedly demonstrated complete disregard for it with incompetence, woke policies and ideological capture, and continually seeking to appease an inept bunch of public “anything but” servants.
Not to mention continuing to shell out hundreds of millions of our tax dollars to various iwi for bs done (or not done) over 150 years ago.
The CPA should pull their heads out of their arses and f-off.
You are not Tired Mum, you are FIRED UP Mum, good on ya!
Exactly.how about the govt stop WASTING money, get the NEPHS off the couch, end the TREATY gravy drain and cap all Public service CEO and manager salaries to $200K. Too many overpaid paper shuffling useless idiots in “Government”.
How about our go stop laundering other peoples tax money to Iwi for so called “grievances” that they never personally experienced. How about the government stop laundering money to time wasting utterly USELESS NGOs, ministries, corrupt paid off scientists and pharmaceutical companies?
So f’ing angry.
Bishop is a globalist, he’s the equivalent of Chip Dipkins.
We seesaw from one globalist party to the next each handing the baton to the next to see who can push the agenda further, nudging us further and further to their utopia of digital control. Well F*CK YOU CHRIS amd all your other NATIONAL C*nuts.
Heaven help us of that left lot get back in. A bunch of lazy stupid evil mentally ill lying Machiavelli criminals at best.
😡😡😡
I would rather call for a massive streamlining of tax to make it basic, reduce loopholes and the need for accountants
You will own nothing and they will be very happy.