Time for a proper Capital Gains Tax
Email Labour calling for a comprehensive CGT!
Please join us in calling on Labour to adopt a proper, comprehensive Capital Gains Tax (CGT) as an important part of a better tax system.
You may have seen recent reporting that indicated Labour might be considering adopting a CGT policy that is not comprehensive and with exemptions that would undermine its revenue gathering potential. While we don’t know if this reporting accurately reflects Labour’s current thinking, this is a critical moment to show Labour that we support a CGT that will advance tax justice in Aotearoa!
Polling has demonstrated there is solid support for taxing income from capital gains. This support shows that New Zealanders realise our current tax system is broken, it is not generating the revenue we need to resource our schools and hospitals, it provides a giant loophole for the wealthy to avoid paying their fair share of taxes, and is not supporting a productive economy.
But all these people don’t support a CGT for the sake of it!
Support for a CGT is based on it addressing these issues and delivering long-term benefits to New Zealanders, so it is important that we get the CGT settings right, and that it is accompanied by other progressive tax changes.
You can contribute to achieving this important step towards a better tax system by emailing the the Labour leadership to let them know you support a comprehensive CGT.
Below we’ve set out some key points you can use in your email to get the message across - but we encourage you to use your own words to explain why this is important to you!
How to send email: Simply copy the email addresses below into your email, and use the prompts below to help you write your message to Labour.
Cc: [email protected]; [email protected]
Bcc: [email protected]
Subject line: [Insert a unique subject line that refers to your support for a CGT]
Email body - Some key points you may want to make are:
1. It’s great that Labour is considering taxing the income from capital gains.
2. I support a comprehensive Capital Gains Tax and it is something that will influence how I vote.
3. I want a CGT that will:
- make a significant contribution to the revenue we need to resource our public services,
- improve the fairness of our tax system, and
- foster a more productive economy, by discouraging property speculation that drives house prices up.
4. To achieve this I support a CGT that:
- is as comprehensive as possible, covering all forms of significant assets, but with an exemption for the principal family home,
- applies to individuals, companies and trusts that own assets,
- is payable when the asset is sold or transferred,
- taxes income from capital gains like any other source of income to mitigate the risk of tax avoidance which will happen if lower tax rates apply, because wealthier people are more likely to own assets which make taxable capital gains.
5. I want Labour to step up and show the necessary leadership to put a proper CGT before voters in the 2026 Election. This is a policy that will influence how I vote.
6. But a CGT is only one step towards a better tax system, and I want to see Labour advancing other tax changes that will generate the revenue we need and address income and wealth inequality.
[Don't forget to sign off with your name!]