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Home/Markets & Investing/CAPITAL GAINS TAX POLICY · CRYPTO IRS RULING

Labour's Tax Policy Focus Narrows to Capital Gains Tax, With Revenue Ring-Fenced for Free GP Visits

DE

Drew Elsworth

capital gains tax policy · Apr 17, 2026

Labour's Tax Policy Focus Narrows to Capital Gains Tax, With Revenue Ring-Fenced for Free GP Visits

Source: DojiDoji Data Terminal

Labour's revenue spokesperson Deborah Russell has confirmed the party will campaign solely on a 28 percent capital gains tax on investment and commercial property sales from July 2027. The tax will not apply to the family home, farms, or KiwiSaver assets, meaning nine out of ten New Zealanders will not pay it. The revenue generated will be ring-fenced to fund three free general practitioner visits per year.

Related Brief1d ago
tax law

Draft Foreign Resident CGT Reforms Could Trigger Tax Bills for Transactions Dating Back to 2006

Foreign resident taxpayers could face additional tax bills, penalties, and a general interest charge for transactions that settled years ago. The Australian government has proposed draft reforms to foreign resident capital gains tax rules that would apply retrospectively from 2006. This move would allow the government to re-examine historical transactions and tax them differently than they were under the legislation and guidance in place at the time. CPA Australia warns that the proposal would reopen transactions that were long-settled, creating new liabilities for business owners, advisers and investors.

Russell said the capital gains tax is intended to shift investment from property speculation into the productive economy, level the playing field for businesses, and create jobs. She dismissed broader tax reform ideas in a recent policy statement from Tax Justice Aotearoa, saying Labour's focus remains on the CGT.

Related Brief1h ago
tax policy

Foreign investors face 20-year tax clawback, risking Australia's capital inflows

Foreign investors who have avoided capital gains tax on Australian property sales since 2006 could now face a 20-year tax clawback under a proposed policy from Treasurer Jim Chalmers. The Australian Taxation Office would gain new powers to collect unpaid taxes from overseas investors who sold property in Australia and did not pay tax at the time. This policy would override state laws that previously offered tax exemptions to foreign investors, including in cases where the ATO lost court rulings, such as with Malaysian conglomerate YTL Power and North American mining firm Newmont. The move could reduce the profitability of foreign investments in Australian property-related projects. As a result, some developments may not proceed, or local partners may be forced to borrow more, increasing Australia’s foreign debt. The policy could ultimately lead to a significant decline in foreign capital inflows, which currently total around US$5 trillion and are critical to Australia’s economy.

National's campaign chair Simeon Brown and the Taxpayers' Union warned the comments opened the door to future tax expansion. Russell denied this, saying Labour's additional tax policy would be focused on the integrity and transparency of the tax system, not new levies. She also accused National of misleading the public about Labour's tax plans, calling their claims 'lies.'

Related Brief11h ago
fiscal policy

Kast's National Reconstruction Plan Would Cut Corporate Tax Rates to 23%

The Chilean state could stop collecting between $4.3 billion and $4.8 billion in revenue. This reduction is the result of the National Reconstruction Plan to be presented by José Antonio Kast on April 15. The plan includes a reduction of the corporate tax rate from 27% to 23% and the elimination of the capital gains tax. It also includes a reform of the tax system. Opposition deputies state that these measures would effectively gift $3 billion to the country's wealthiest.

capital gains tax policycrypto IRS ruling

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