Does New Zealand need a capital gains tax?

For years a capital gains tax has been a taboo political subject, avoided by politicians afraid to lose votes.  Tax experts have stressed time and again that Aotearoa should follow in the footsteps of the rest of the OECD and introduce this type of tax.  And while former Prime Minister Jacinda Ardern refused to pull the trigger despite strong recommendations from the working group her own Government commissioned, there’s speculation that this political hot potato could be reconsidered under Chris Hipkins’ fresh leadership. So, what has stopped the country from introducing a capital gains tax so far? How much more tax revenue could it deliver? And how likely is it that Aotearoa could introduce a capital gains tax in the future?      Today, PWC tax partner Geof Nightingale runs Damien through the pros and cons of this always controversial issue. Follow The Front Page on iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts. You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network. Host: Damien VenutoProducer: Shaun D Wilson and Paddy FoxExecutive Producer: Ethan SillsSee omnystudio.com/listener for privacy information.