Industry eyes tax report

The group is due to deliver its report to the Government at the end of this week but it is not expected to be made public yet.

Submissions from the financial services sector lobbied the group to consider changes.

The Financial Markets Authority told it that investment in New Zealand’s capital markets had very little by way of positive tax incentives and that a broader and deeper domestic capital market was widely accepted to be something  that lowers the cost of capital for NZ companies and promotes economic growth.

Forsyth Barr said changing demographics would make tax on capital income relatively more important.