Jacinda Ardern fails to push through capital gains, but still wants to work on a ‘fairer tax system’

While a capital gains tax will not be implemented, Jacinda Ardern says there are other things that can be done to improve the fairness of the New Zealand tax system.

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The Prime Minster announced today that the CGT will not be implemented Source: 1 NEWS

“As such the Coalition Government has agreed to tighten rules around land speculation and work on ways to counter land banking,” she says.

“Work will also continue to cut red tape for business and crack down on multi-nationals avoiding paying their fair share of tax in New Zealand.

"We have already made changes to address base erosion and profit shifting, and we will shortly release a discussion document on options for introducing a digital services tax," says the Prime Minister.

Ms Ardern says she just wants to focus on the things her Government can do to “improve the well-being of all New Zealanders.”

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Jacinda Ardern said her government had realised they did not have a mandate from the public to do so. Source: 1 NEWS

“The Coalition Government is addressing the long-term challenges New Zealanders face such as mental health, climate change and child poverty and responding to the March 15 terrorist attack and keeping New Zealanders safe. Those challenges will be my priorities for the remainder of this term,” Jacinda Ardern said

She says the Labour party’s wider tax policy is not something she is releasing as it has "not been considered or finalised."