Edition 5, August 2014
Welcome to Tax Watch
Tax Watch: Election special
Tax policy is in the news. This special election issue of Tax Watch sets out what you need to know.
Capital Gains Tax (“CGT”) could be one of the defining issues for Election 2014. Labour and the Green Party support CGT while National holds firm against it.
We’ve summarised what we know about all the tax policies released by National, Labour and the Greens as at 15 August 2014. If a policy is not yet released, if we find it unclear or if statements conflict, we’ve kept silent.
You’ll see more references to Labour than to National or the Greens. That reflects the tax stories in the news lately: we make no judgements on individual parties.
This edition covers:
- Labour’s personal tax proposals
- Capital gains tax (CGT), proposed by Labour and the Greens
- Business taxes, especially research and development (R&D), where National, Labour and the Greens all feature
- Tax avoidance, with National and Labour cracking down
- Carbon taxes, supported by the Greens
- Immigration policy, with Labour planning a shake-up
The tax world doesn’t stop for elections. We also cover:
- GST mismatches between Customs and Inland Revenue
- Simplified employee share schemes
- Global transfer pricing reform
- Inland Revenue’s changes to the payment acceptance rules
- And Tax Watch in Brief rounds out recent developments.
Look out for our in depth series on CGT, coming soon.
For further information on any of the items in Tax Watch, contact your usual EY tax advisor or any of the team featured in this e-newsletter.