This was a much anticipated report (at least by the kiwi folks) and the recommendations will now be considered by the NZ government.

  • NZ's tax working group says all members agree more income from capital gains should be taxed from sale of residential property
  • says majority of members support further broadening approach to include all land and buildings, business assets, intangible property and shares

Early response from NZ fin min Robertson

  • Will take a measured response to tax working group report, unlikely all recommendations will need to be implemented

NZD not much changed.