The Government’s Tax Working Group has today suggested a capital gains tax on the sale of farms, National’s Agriculture Spokesperson Nathan Guy says.
“Sir Michael Cullen spent years as a Labour Party Minister of Finance unsuccessfully trying to introduce a Capital Gains Tax on the family farm.
“Today’s report confirms that Sir Michael has not given up his crusade against New Zealand farmers. And this Government is going to let him.
“Farmers and growers will also be concerned that Labour’s water tax is back on the agenda and is being actively considered by the Tax Working Group.
“Agriculture Minister Damien O’Connor has confirmed that when it comes to soaring costs and taxes on farmers that there are more coming. The Minister arrogantly told farmers that they needed to ‘get used to it!’
“Mr O’Connor has previously signalled that a climate tax for farmers was coming, he has slashed the Primary Growth Partnership fund and the Government is refusing to fund any new water storage projects.
“The Minister has already stated being the ‘friend of the farmer’ isn’t necessarily his Government’s objective. Today’s Tax Working Group confirm that this is indeed the case.
“Food producers are the backbone of the New Zealand’s economy. They expect better from the Government. I challenge Winston Peters and Jacinda Ardern to confirm whether a Capital Gains Tax will be imposed on future farms sales.”