Summarised by Centrist
The Advertising Standards Authority became involved after a voter complained that National was misleading people by claiming Labour’s proposed capital gains tax would hit small businesses and KiwiSaver.
National’s flyer said the tax would affect family baches, rentals, small businesses and KiwiSaver. The ASA partly upheld the complaint, but only over the way KiwiSaver was presented.
The Board found that placing KiwiSaver alongside assets taxed directly could lead people to believe the tax would apply to their personal balances. National had argued that KiwiSaver could still be affected indirectly through investments in companies owning commercial property.
The ASA rejected the complaint about small businesses. It said family baches, rentals and small businesses “when property was sold” were assets the tax would affect.
Labour proposes taxing gains made after 1 July 2027 on residential investment and commercial property at 28 per cent, without adjusting for inflation. Family homes, farms, KiwiSaver and the non-property value of businesses are exempt.
However, commercial premises owned by businesses are not automatically exempt. A hairdresser selling a salon building could pay the tax unless the property was being sold to buy larger premises. A hairdresser who leases would not.
Appearing on Ryan Bridge TODAY, Labour’s Willie Jackson repeatedly accused National of lying. When Paul Goldsmith raised the hairdresser example, Jackson replied, “Nothing’s true.”
Jackson used some form of “lie” 16 times in less than six minutes before admitting: “I need to do a check with Barbara [Edmonds -Labour’s finance spokesperson].”
Read more at ASA | RNZ | NZ Herald Now
Re-published from the Centrist with permission
