Following the release of last week's Budget, there's growing claims that Australians are looking across the Tasman with 'genuine envy'.

A recent article in The Australian claimed that with no capital gains tax, no stamp duty or land tax, and the opportunity to negatively gear, business owners and property investors have taken more interest in New Zealand as a result.

Australian independent economist Saul Eslake says this is likely just wishful thinking as a response to the recent Budget.

"People look over the ditch and see that New Zealand's top rate of 39 is lower than our top rate of 46...and that you don't really have a capital gains tax, other than on assets that are held for less than two years, so they might think that looks more attractive than Australia."

LISTEN ABOVE

Following the release of last week's Budget, there's growing claims that Australians are looking across the Tasman with 'genuine envy'.
A recent article in The Australian claimed that with no capital gains tax, no stamp duty or land tax, and the opportunity to negatively gear, business owners and property investors have taken more interest in New Zealand as a result.
Australian independent economist Saul Eslake says this is likely just wishful thinking as a response to the recent Budget.
"People look over the ditch and see that New Zealand's top rate of 39 is lower than our top rate of 46...and that you don't really have a capital gains tax, other than on assets that are held for less than two years, so they might think that looks more attractive than Australia."
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Saul Eslake: Australian independent economist on the claims that the Budget is turning NZ into an Australian tax haven

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/95bac672-fed6-4fca-83fb-b44f00704d51/transcript