The NBR Podcast Chris Hipkins talks capital gains tax
Nov 10, 2025
Chris Hipkins, Labour Party leader and former New Zealand Prime Minister, dives into the party's proposed capital gains tax. He discusses why a simple CGT is essential for shifting investments towards productive assets and addresses concerns about its impact on commercial property development. Hipkins clarifies that capital improvements won’t be affected and separates CGT from interest deductibility changes. He also emphasizes Labour's centrist vision for retaining Kiwis and growing the economy, reassuring listeners about party unity amidst policy debates.
AI Snips
Chapters
Transcript
Episode notes
CGT Framed As Fairness And Growth Measure
- Labour frames the CGT as a simple fairness fix taxing profits from property trading, not family homes.
- Chris Hipkins says the aim is to shift investment toward productive businesses rather than speculative property.
Policy Aims To Reallocate Investment
- The policy targets speculative and static property investment to boost productive, job‑creating sectors.
- Hipkins argues capital improvements and building activity are not discouraged because costs offset gains.
Grandfathering Protects Existing Property Gains
- Do note that CGT only applies to gains realised after 1 July 2027, protecting past gains.
- Plan investment timing accordingly because existing gains will be grandfathered.