Stephen Knight

The capital gains tax is the kind of largest tax debate we're having at the moment.

And we know that Labour has got a policy where they want to bring in a capital gains tax, which I've talked about on the show before.

But today I really wanted to dig into the should.

Should New Zealand have a capital gains tax at all?

Now, Andrew and I have had many debates in the past.

He thinks we should have one.

I think, no, we shouldn't.

So what we're going to do is we're going to get three arguments each.

Andrew, you're going to get three.

I'm going to get three.

And then you guys watching on YouTube and listening to the podcast, you get to vote at the end down in the comments section.

Now, I should say that there are...

different types of capital gains taxes, right?

So there could be one where it's just property getting taxed, or it could be everything getting taxed, like your increases in value of your shares or your businesses.

Today, we are going to talk about that comprehensive capital gains tax.

So that's where everything gets taxed, your property, your shares, your businesses, everything usually except the family home.

Now, Andrew, I'm going to let you kick it off with your first argument.

Why do you think New Zealand should have a capital gains tax?

Well, I did see that the tax working group estimated that taxing more income from capital gains could raise $8 billion over the first five years.

It's huge.