Peter Martin, Crawford School of Public Policy, Australian National University
My calculations suggest that if homeownership bounced back to 70% – where it was before a key tax change – an extra 430,000 homes would now be owned by the people living in them.
Capital gains taxes are often lauded as the fair way to ensure everyone pays their fair share. But when you map out different tax scenarios, taxing capital gains many not be as fair as it seems.
Australia needs bold new housing policies that don’t just rely on the taxation system but consider a range of measures to meet the housing needs of all Australians.
Jonathan Barrett, Te Herenga Waka — Victoria University of Wellington and Lisa Marriott, Te Herenga Waka — Victoria University of Wellington
The Labour Party’s proposed capital income tax targets earners whose gains are missed by the current system. We explain how this is different from other taxes targeting the wealthy.
Gordon Brown’s reforms to CGT encouraged stock market speculators and private equity asset strippers, while it was the Thatcher government that brought rates into line with income tax.
Requiring businesses to lobby through the people, not government, as Pierre Poilievre recently suggested, may sound like a better way to make policy. It’s not.
The federal government says it’s committed to addressing the challenges faced by younger generations, including housing affordability and the high cost of living. Does the budget deliver on its promises?
Arun Advani, University of Warwick; Andrew Lonsdale, London School of Economics and Political Science, and Andy Summers, London School of Economics and Political Science
New research shows only 3% of the population paid any capital gains tax in the last decade.
Peter Martin, Crawford School of Public Policy, Australian National University
An astounding one in nine taxpayers negatively gear, costing Australia more than $2.7 billion a year. Here’s how we could get better value for that money – and supercharge investment in new housing.
Alison Pavlovich, Te Herenga Waka — Victoria University of Wellington
Labour’s 2021 property tax changes were meant to lower the cost of housing. But without a proper capital gains tax it only hurt investors and renters, and made the tax system overall less coherent.
Jonathan Barrett, Te Herenga Waka — Victoria University of Wellington and Lisa Marriott, Te Herenga Waka — Victoria University of Wellington
The National Party’s tax package may be a middle-income vote winner, but it avoids the core problem of tax-free wealth. And how much the new system would cost to operate is far from clear.
Susan St John, University of Auckland, Waipapa Taumata Rau
Forget wealth or capital gains taxes, a straight tax on housing equity – exempting most homeowners – would be a simple and efficient way to break the circuit of inequality.
Jonathan Barrett, Te Herenga Waka — Victoria University of Wellington
New Zealand’s tax system might be in need of updating, but Revenue Minister David Parker’s new tax legislation is unnecessarily complicated at a time when we most need clarity.
Peter Martin, Crawford School of Public Policy, Australian National University
Asked to choose the fairest ways to raise billions, half of the economists backed introducing inheritance taxes. Around a third chose winding back super tax concessions and increased resource taxes.