Dawn Chorus: What the untaxed wealth looks like

IRD is to release its report on the tax and economic income of NZ’s high-wealth individuals, coinciding with a speech from Parker that will be carefully watched for clues that Labour may once again touch the third rail that is a capital gains or wealth tax. Photo: Lynn Grieveson / The Kākā

TL;DR: Reports are due out today estimating the untaxed wealth and income from capital gains on land, which will set the scene to restart our national debate about capital gains or wealth taxes.

Revenue Minister David Parker will give a speech at 12.30 pm with the release of the two papers to give an indication of whether Labour might take the electoral risk this year of raising the issue again, having struck out with a capital gains tax in 2011, 2014 and 2017.

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What we could expect from the wealth reports