Stuart Nash seems oblivious to the harm a Capital Gains Tax would cause small business owners, National’s Small Business spokesperson Jacqui Dean says.
“The Minister for Small Business said last week he hadn’t heard from any small businesses about a Capital Gains Tax. Where was he hiding? Small business owners are talking about a Capital Gains Tax up and down New Zealand and they’re worried.
“If he thought about small businesses he’d conclude they will be hurt by a Capital Gains Tax, and in a way that would sap their energy and enthusiasm because that’s what would be taxed. It is a tax on entrepreneurs, innovators and all those willing to take a risk to build something that grows and creates jobs.
“A business owner will endure hard times in the hope that they’re building value which will pay off down the track. For some it is their retirement plan. Now the Government is considering a way to grab one third of any gains via a new tax.
“While Mr Nash isn’t listening, we are. One business owner said about him: ‘If you are indeed the Minister of Small Business the least you could do is actually talk to us, let alone listen to us’. Another said: ‘Taxing my capital that I created through hard work is outright theft no matter how you sell it.’
“National wants Kiwis to have opportunities in our own country but taxing them more will hold people back. We believe New Zealanders should keep more of what they earn. We’d repeal a Capital Gains Tax and won’t introduce any new taxes during our first term.”