NZ minister invites Australians unhappy with CGT changes to ‘come over’
New Zealand’s finance minister, Nicola Willis, has invited Australians who don’t like Australia’s proposed changes to capital gains tax (CGT) to move across the ditch.
Last week’s federal budget outlined changes to scrap the 50% CGT discount, to be replaced with a new discount that is in line with inflation, and investors will be forced to pay a minimum of 30 per cent tax on any net gains.
The government has faced criticism over the change, including that it could negatively affect startup founders and small business owners.
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