Source: Tax Justice Aotearoa (TJA)
28 January 2025 – A new survey showing strong support for a capital gains tax among workers has been welcomed by Tax Justice Aotearoa (TJA).
TJA chair Glenn Barclay said the latest Council of Trade Unions (CTU) Te Kauae Kaimahi Mood of the Workforce survey showed almost 90 per cent of respondents were in favour of a capital gains tax.
“We welcome this result, which shows almost universal support for a capital gains tax among workers,” Mr Barclay said.
The CTU survey asked “Should a greater share of public services such as health and education be paid for by taxing non-income profit via a capital gains tax?” – with 87.7% answering in favour.
“It supports what we know from public surveys held last year – and shows support is growing, with our own survey in 2023 finding 62 per cent of respondents thought all income should be taxed the same way, regardless of how it is earned.
“A capital gains tax is now widely accepted as the tax we need to have, because we are so far out of step with the rest of the developed world when it comes to taxing capital gains.
“Aotearoa is an outlier internationally, in that we do not tax capital gains in a comprehensive way – and this latest survey shows it’s no longer a political taboo.
“However, a capital gains tax is not the silver bullet for our unfair and unjust tax system.
“There are other options – such as wealth tax and excess profits taxes – that Aotearoa needs to consider in order to adequately fund public services, including health and education – and to help address inequality and challenges arising from climate change.”