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.
Norman Gemmell, Te Herenga Waka — Victoria University of Wellington
Without making housing supply the priority, the government’s tax-based policies create more objectives than they can reasonably achieve.
New Zealand Prime Minister Jacinda Ardern promising to accelerate Labour’s COVID-19 recovery plan after winning re-election in a landslide.
Phil Walter/Getty Images
In some quarters, the median Sydney home earns more from capital gains than the median worker earns from wages. Now’s a good time to wind back the measures that push prices up.
Robert Breunig, Crawford School of Public Policy, Australian National University; Kristen Sobeck, Crawford School of Public Policy, Australian National University, and Peter Varela, Crawford School of Public Policy, Australian National University
It would be a mistake to think that just because higher earners face higher tax rates, that’s what they pay. When it comes to income from savings it’s the other way around.
Claiming for working for home is fraught. It’s safest to claim the running expenses the tax office allows. ‘Occupancy expenses’ are harder to justify and could cost you your capital gains tax discount.
Westpac and the ANZ have suspended dividends payments. The National Australia Bank has slashed them. The peculiarities of our tax system explain why retirees hate this more than they should.
Warren and Sanders are the candidates with arguably the most aggressive plans to tax the rich.
AP Photo/Meg Kinnard
Jonathan Barrett, Te Herenga Waka — Victoria University of Wellington
Establishing artists could benefit if New Zealand introduces a proposed capital gains tax that excludes any profit made on the sale of collectables and artworks.