Revealed: Majority of Kiwi voters oppose capital gains tax

The tax working group is releasing its big report on Thursday - and it's expected to recommend the Government adopt a capital gains tax (CGT).

However a Newshub Reid-Research poll has found the majority of voters do not want one.

Inside Parliament is a hive of home owners. Between them, our 121 MPs own a whopping 304 properties - many own more than one.

Some own so many they can't keep count.

"Ah, three or four," said National MP Todd McClay. "I'd have to go and check the declaration."

"I have three," said National leader Simon Bridges.

The register of pecuniary interests, which lists MP's assets, says Mr Bridges owns four.

For ordinary Kiwis it's a different story, as just 37 percent of New Zealanders don't own their own home. In Parliament, 4 percent don't - that's just five MPs.

The Government's considering a CGT, which taxes profits on the sale of things like property, land and shares. Whether MPs would be personally happy paying that tax was split down party lines.

Labour MPs Stuart Nash and Chris Hipkins both said they'd be happy paying a CGT. However National MPs said no.

"I pay enough tax, I pay plenty of tax," said Matt King.

"It's not about me, it's about New Zealand," said Mr Bridges.

"Let me tell you what I know about the wealthy, [they] always find a way around stuff - best accountants, they know what to do."

And New Zealand is also opposed to a CGT. In our latest Newshub-Reid Research Poll, we asked voters if they'd support the Government imposing a capital gains tax.

  • 54 percent said no
  • 32 percent said yes
  • 14 percent didn't know

Labour voters are split. 42 percent do not support a CGT, while 44 percent do.

Unsurprisingly most National voters oppose it - 73 percent say no, but 19 percent say yes.

But before Labour can try win voters over, it needs New Zealand First leader Winston Peters on board.

He hates a CGT - and is already eyeing up alternatives in the tax working group report.

"It offers a lot of alternatives, not just a capital gains tax," he says.

Prime Minister Jacinda Ardern says each party has its own views, and her job is now to build a consensus.

But right now the public consensus is clear - no to a new tax.