Labour’s proposed capital gains tax will exempt payouts from superannuation funds but it will apply to property which many of the funds invest in.
For the first time in decades, New Zealanders are acting on the message to save. But if Labour’s policy is enacted, some of the returns from those investments will be eroded by CGT.
The New Zealand Superannuation Fund and ACC have both invested in farmland and other property.
The negative impact Labour’s CGT will have on both of them will be among the boring details the party doesn’t want to trouble us with.