Poll shows people don't like tax changes

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A poll on the government’s investment tax changes indicates only half New Zealanders know about them – but that 40% say they are less likely to vote for a party which supports such tax changes.

Friday, August 11th 2006, 5:41AM

by Rob Hosking

Perhaps most significantly, a majority – 57% - of those who voted Labour at the last election are opposed to the changes.

Of those, nearly a third – 29% - say they would consider changing their vote because of the changes.

The survey was carried out by Curia, a polling firm owned by blogger and National party activist David Farrar.

Farrar won’t say who the survey was done for.

The survey states the changes “will mean New Zealand investors will be taxed on any capital gains from most international investments” and asked if people supported this idea.

There were 766 respondents and, when asked who they voted for, the sample’s responses were broadly in line with the results of the last election.

The response suggests the issue is "a bit of a sleeping time bomb," Farrar says.

"There isn’t a great deal of awareness about the tax changes. But people don’t seem to like the idea."

New Zealand First and Green voters are keenest on the tax. National and United Future are the least enthusiastic.

This last point could be bad news for United Future leader and Revenue Minister Peter Dunne, although Farrar cautions against reading too much into the small party results as the sample size is so small.

The questions do not sketch out the tax changes in any detail – something Farrar concedes, but says is necessary.

They do not mention the fact that investments in Australia will be exempt, nor do they mention the fact the capital gains tax is on unrealised gains.

"You can’t write this sort of survey for tax experts," Farrar told Good Returns.

"If you are trying to get people’s gut response to an issue - which is what this is – then you have to keep it pretty simple."

Rob Hosking is a Wellington-based freelance writer specialising in political, economic and IT related issues.

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