‘No’ to capital gains tax still possible: PM

‘‘It doesn’t just look at the way New Zealand does or doesn’t treat capital gains; it looks broadly at our tax system.’’ One certainty was that, if a capital gains tax was implemented, the family home would be off the table. ‘‘When we went into setting

Prime Minister Jacinda Ardern says there will be plenty of time for public consultation on the Tax Working Group’s report, but it’s still possible the Government will reject a recommendation for a capital gains tax.

In her first economic outlook speech of the year, Ardern spoke about the reasons for optimism in the economy – but acknowledged there were also clouds ahead, to a room full of top chief executives and managers.

The Government received the Tax Working Group’s report on the contentious capital gains tax late last month and will release it to the public on February 21.

While Ardern said there would be ‘‘plenty of time for consultation, debate and lots of transparency’’ on the report’s findings, she did not rule out not adopting a capital gains tax policy at all.

‘‘What the Tax Working Group has worked on we will be releasing to the public. Everyone will be able to see those ideas and debate them.

‘‘There will be plenty of time for consultation and debate and lots of transparency.’’

Ardern said the report was widereaching but gave no more details on what it might cover.