Capital gains and wealth taxes may not accomplish the goals advocates think they might.

After investigating, Chris Hipkins has ruled out those changes while he's Prime Minister. 

Deloitte tax partner Robyn Walker says wealth taxes don't bring in a huge amount of revenue, but create higher administration and compliance costs.

She says there are unintended consequences which have been seen in overseas countries,  like Norway.

Walker says the wealthy and "the want to be wealthy" have fled the country.

LISTEN ABOVE

Capital gains and wealth taxes may not accomplish the goals advocates think they might.
After investigating, Chris Hipkins has ruled out those changes while he's Prime Minister. 
Deloitte tax partner Robyn Walker says wealth taxes don't bring in a huge amount of revenue, but create higher administration and compliance costs.
She says there are unintended consequences which have been seen in overseas countries,  like Norway.
Walker says the wealthy and "the want to be wealthy" have fled the country.
LISTEN ABOVE

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.