CGT doesn't really help fix the problem of property prices appreciating. I like immigration, but I still recognize that 30% immigrants has a huge impact on property prices.

If you want to fix the problem of wealthy landowners then you need to look at a better solution than CGT.

Labour actually brought in some good policies that helped reduce inequality. And some crappy ones too (I saw the effects of their lending policies on friends trying to buy their first home).

My problems with CGT are:

1: it definitely screws up incentives for anyone to make NZ more wealthy as a nation. I know this personally: even with tax rates as they are, I've got fuck-all incentive to invest (in a business or otherwise). CGT actually screws the pooch because I would have more incentive to play the property Ponzi scheme because CGT dis-incentivises me to invest in business risks.

2: why bother starting a successful business if you just get penalized after you win the game. I'm in this position: I'm an average guy that helped found a company that brought millions into NZ and it seems you don't want me to keep the small percentage that is my fair reward (for the years of work I put in and the risks I personally took).

3: CGT seems like tall-poppy-syndrome. If you want to target intergenerational wealth then target that.

I have no love for National.

CGT is definitely no panacea to the problems caused by inequality.

Too many NZers want us to join the other failed states in the world where we can all be equally fucked.

I really don't think CGT has anything to do with corruption.

If you want to argue for CGT - argue why we should tax the billionaire Peter Jackson and why it is fair. An extrodinary success that has mostly benefited NZ (economic and non-economic wins) - obvious consumer surplus - low externalities - tax supported but NZ got paid back - clear export and local gains. He was born into a typical NZ family. "His property portfolio in 2018 was estimated at NZ$150 million" - https://en.wikipedia.org/wiki/Peter_Jackson