Wednesday, 30 September 2020 13:59

Wealth tax

Written by  Milking It

OPINION: So will NZ end up with a wealth tax?

The Greens says its wealth tax policy is a “bottom line” for a Labour-Greens Government.  

The party plans to make Kiwis with a net worth greater than $1 million pay one percent of their wealth to the Government as a tax. Those worth more than $2m would pay out 2% of their wealth as tax.

Some have questioned whether the Greens, who have ruled out working with National, actually have any leverage to demand a “bottom line”. 

Still, the prospect of a wealth tax could spook the middle classes and it has drawn heavy criticism from the centre right parties, making it a potential election headache for Labour.

Will Jacinda Ardern rule out a wealth tax like she did for a capital gains tax when it became a political hot potato last year?

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