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Treasury and the Inland Revenue did not think a comprehensive capital gains tax was feasible for the 2010 budget and argued it could be considered later in continuing strategic tax reform. This advice is in background documents for the May budget released by Treasury today. A regulatory impact statement (RIS) written by IRD deputy commissioner Robin Oliver and Treasury tax strategy manager Bill ... The Government's proposed tax reforms will promote economic growth and plug holes in the existing tax system, business groups say, but a major union has criticised them. read more TAX REFORM Possible reductions to the top personal tax rate. Property investors will be all ears today when Prime Minister John Key outlines details of the government’s tax reform plans, including moves to reduce incentives for property investment. Abano reports robust results and New Zealand Refining drops nearly 4% on low processing margins. Key could squander this opportunity - or be bold, ambitious and slightly risky. My money is on the latter option.

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