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.
More housing supply doesn’t mean lower prices. If policy-makers want to make homes more affordable, they must tackle developers who drive up prices and consider taxing capital gains on homes.
President Biden wants to raise the capital gains tax that wealthy people pay and use the extra revenue to fund new social spending on children and education.