Tax Justice Aotearoa today released a report Capital Gains Taxation in OECD and Comparable Nations, which shows that Aotearoa New Zealand (NZ) is an international outlier in not having a comprehensive capital gains tax (CGT).

“The lack of a comprehensive CGT,  which exempts the family home, raises questions about NZ's ability to keep pace with the rest of the world in revenue sustainability, the fairness of our tax system, and in incentivising economic behaviour that will help nurture a more productive economy. The minimalist CGT that Labour is reportedly considering won't adequately address these challenges.” says Glenn Barclay, Tax Justice Aotearoa spokesperson.

Out of 38 OECD members 31 (81.5%) have explicit, comprehensive CGT regimes. This includes countries NZ traditionally compares itself to: Australia, Canada, the UK and Ireland. The Netherlands employs a system that can neither be categorised as being with/without a comprehensive CGT. Amongst the remaining six countries that do not have a comprehensive CGT, NZ currently has the most limited regime for taxing capital gains, primarily through the narrow two-year “bright-line” test for residential property.

“What this report shows is that NZ is really out of step in not having a comprehensive capital gains tax. Bringing in this common sense measure would close a loophole in our current system and ensure we treat income from wages and income from wealth or assets equally,” says Glenn Barclay..

“IRD research from 2023 demonstrated that the wealthiest pay proportionately less tax than middle New Zealand, mainly because we don't tax capital gains. We believe most New Zealanders would think that is unfair. A comprehensive CGT would be an important step towards fixing this.”

“A comprehensive CGT would have other benefits too. It would help keep house prices in check by disincentivising property speculation, making housing more affordable for our whānau, and encourage more productive investment,” says Barclay.

“Such a measure also has the capacity to generate much needed revenue to fund our hospitals and schools, to invest in infrastructure and responses to climate change and poverty, now and into the future.”

“But we know that capital gains taxes take some time to generate all their potential revenue. That's why it is important that all parties embrace this measure, so that it has time to bed in and deliver on that potential. And that's why a CGT needs to be accompanied by other tax changes that will generate more revenue from those who can most afford it,” says Barclay.

“This report shows that a comprehensive CGT is a routine measure in most OECD countries, and it's about time New Zealand caught up with the rest of the world.”

A cohort of the country’s consumer advocacy groups have issued an open letter to finance and economic growth minister Nicola Willis and commerce and consumer affairs minister Scott Simpson, urging them not to bow to pressure from big business lobby groups and shy away from proposed fair trading reforms.

Consumer NZ, FinCap (the charitable trust supporting financial mentoring services), Community Law Centres Aotearoa (the free legal help service for vulnerable consumers) and Citizens Advice Bureau (the nationwide community organisation offering free advice) have joined forces out of concern that proposed amendments to the Fair Trading Act (FTA) could be watered down, following lobbying from business groups.

“We don’t want to see New Zealanders left on the back foot with weaker consumer protections than the rest of the world has just because big business is throwing its toys out the cot,” says Jon Duffy, Consumer NZ chief executive.

“Our current laws make it easy for businesses to breach the rules without real consequence. It’s consumers that pay the price.”

Industry associations representing powerful sectors, including electricity, telecommunications, retail and retirement villages recently sent a letter to Minister Willis criticising the proposed FTA reforms and the consultation process.

As a result, several key proposals – including expanding the infringement offence regime and stronger unfair contract term provisions to enable consumers to enforce their rights – are reportedly now off the table.

“Changes to the unfair contracts regime would be a game-changer for consumer rights, so it’s deeply disappointing to see these changes wound back at the behest of vested interests,” says Duffy.

“We hear from consumers every day about the one-sided deals they’re stuck with – from people unable to cancel their gym contracts to elderly retirement village residents having to fork out for repairs and maintenance on a property they don’t own or wanting to move but unable to get their money out in a timely fashion.

“There’s very little you can do, apart from lodge a complaint with the Commerce Commission, which lacks the resources to act on most complaints. Enabling people to take complaints to the Disputes Tribunal would give the law teeth,” says Duffy.

The importance of penalties

“Penalties for breaches of the FTA are comically light in New Zealand compared with in other jurisdictions, so we’re pleased the Government hasn’t backed away from improving these,” says Duffy.

“Right now, penalties are often treated by businesses as a simple cost of doing business. We need a real paradigm shift, where large companies invest in better systems to ensure compliance and are genuinely held to account when they don’t. Introducing higher penalties would encourage changes to poor business practices.”

Advocacy groups are also concerned that penalties for businesses that harass or coerce consumers need to be introduced; an issue that particularly impacts vulnerable consumers.

“Currently, a debt collector wouldn’t be penalised for harassing or coercing someone who is unable to meet unreasonable payment demands. Conduct like this can mean it’s game over for someone who is trying to keep food on the table without a KiwiSaver hardship withdrawal or insolvency procedure,” says Fleur Howard, FinCap chief executive.

Community Law Centres Aotearoa echoes the sentiment.

“Attaching penalties to harassment or coercion is one way to strengthen regulation of debt collection activities and incentivise better behaviour,” says Sue Moroney, Community Law Centres Aotearoa chief executive.  

Consumer has also called for the Government to reconsider the infringement offence regime, to ensure businesses comply with their FTA obligations.

“We believe the Commerce Commission needs greater powers to issue infringement notices with meaningful fines for clear-cut breaches of the act. Otherwise, businesses will continue to flout the law, to the detriment of consumers, knowing they’re unlikely to face consequences,” says Duffy.

“The FTA needs modernising so there are serious penalties for causing serious harm to consumers. Collectively, we urge the Government not to miss this much-needed opportunity to make our FTA fairer.”

The General Practice Owners Association is pleased to announce the successful conclusion of its Annual General Meeting (AGM), during which members reaffirmed their confidence in the current board of directors.

“The reappointment of board members signals a strong vote of confidence in the company’s strategic direction and leadership,” says Dr Angus Chambers, Chair of GenPro.
 
“Board stability is a cornerstone of effective governance, and GenPro is proud to maintain a cohesive leadership team delivering consistent results.”
 
Board members Dr Mary English and Dr Stephanie Taylor were re-elected for three-year terms. Board members partially through their terms who remain on the board are Dr Angus Chambers,  Dr Vicky Jones, Dr Mark Peterson, Michelle Te Kira, and Bethan Rajwer. Supplementing the skills of the board is co-opted board member Dr Hiria Nielsen. The roles of Chair and Deputy Chair will be decided at the first board meeting in November.
 
“With deep institutional knowledge and a shared commitment to the sector’s long-term growth, the Board is well-positioned to continue driving improvements to the sustainability of general practice, innovation in primary healthcare, and upholding the values that define the association’s success,” says Dr Chambers.
 
The AGM, which was held virtually, was addressed by Minister of Health Simeon Brown, who expressed his appreciation for GenPro’s active advocacy and acknowledged the dedication of its members to the health and wellbeing of New Zealanders. He emphasised the critical role of primary care in achieving national health targets, particularly noting the two-year immunisation target, which has shown the most significant improvement among all health indicators.
 
GenPro members are owners and providers of general practices and urgent care centres throughout Aotearoa New Zealand. For more information visit  www.genpro.org.nz

Covering period of Thursday 16th – Monday 20th October

• Strong Wind Watches for Southland, Fiordland and Stewart Island from late Friday afternoon followed by Central Otago, Queenstown Lakes District and Canterbury High Country Friday evening
• Heavy Rain Watch for Fiordland from Friday evening
• Risk of severe gales and heavy rain well into next week.

Full-blown wet and windy weather is on the way! MetService has issued Strong Wind Watches and a Heavy Rain Watch for the South Island from tomorrow afternoon, as well as a risk of severe gales and heavy rain into next week. If you’re hoping for settled weather, your best bet is today (Thursday) or the first half of Friday, before the coin flips.  

During the remainder of today (Thursday), expect fine spells with the odd shower across most of the country. However, a cold front progressing northeast will bring scattered showers and strong southwesterly winds for central and northeastern regions. Temperatures have largely returned to average but with clear skies overnight we could see frost for inland areas like Masterton and Twizel, with minimum overnight temperatures of 2°C and 1°C respectively. Offshore, heavy swells are forecast for the South Island, with 6-7 metres forecast for Foveaux and Puysegur coastal areas.  

As we move into Friday, the day starts with mostly fine and settled conditions, with the odd spot of early morning fog in sheltered areas. For most of the North Island this sets up the story well, but for those in the southwestern half of the South Island, conditions will rapidly deteriorate, with strengthening northwesterly winds, developing showers, and evening rain. Strong Wind Watches have been issued for Southland, Fiordland and Stewart Island from late Friday afternoon, followed by Central Otago, Queenstown Lakes District and Canterbury High Country from Friday evening, where northwest winds may approach severe gales in exposed places, with gusts of 100km/h. A Heavy Rain Watch has also been issued for Fiordland from Friday evening.  Some of these watches are likely to be upgraded to warnings.

Looking into the weekend, bands of rain will push northeast across the country, preceded by strong northwesterly winds.  

Metservice meteorologist Alanna Burrows says, “With the T20 NZ vs England Cricket game in Christchurch scheduled for Saturday night, it might be worth preparing for all weathers and taking some warm clothes and a coat, as well as keeping an eye on the MetService website for updates to the forecast closer to the start time.”  

Next week, the weather is looking wet, windy and wild with more strong northwesterly winds and heavy rain on the way.

Please keep up to date with the most current information from MetService at: www.metservice.com.

Tāmaki Paenga Hira Auckland War Memorial Museum reopens its historic 1929 Grand Foyer and seven more galleries today Thursday 16 October for the first time in five months, welcoming visitors back to WWI Hall of Memories, the much-loved Mataaho Volcanoes, Te Ao Tūroa Māori Natural History galleries, and more.

To mark the occasion, the Museum is celebrating over Labour Weekend from Saturday 25 to Monday 27 October with FREE performances, selected tours, activities and VR experiences for Aucklanders.

The reopening is a major milestone after an unplanned closure in May, when asbestos was discovered in a section of ceiling cavity in the 1929 building. The southern end of the building reopened at the beginning of June. From today, the northern end of the building has reopened, allowing visitors to once again enjoy some of the Museum’s most popular spaces.

Auckland Museum Tumu Whakarae Chief Executive David Reeves says, ‘While our Māori and Pacific Galleries remain closed, we are excited that we can now safely reopen the Grand Foyer and seven galleries, and that’s something worth celebrating. We want Aucklanders to know: yes, we are open and there’s lots to see and do, so come and see us.’

Reeves adds, ‘The best way people can support their Museum is simply by visiting. Entry is always free for Aucklanders, and this celebratory weekend gives everyone a chance to rediscover Auckland Museum and the unique experiences we offer.’

FREE Labour Weekend Activities include:

Seven reopened galleries, including Volcanoes and Te Ao Tūroa Māori Natural History
Free Museum Highlights guided tours
Free VR experience
Free Māori Cultural Experience
Free Weekends of Wonder craft activity for tamariki

Free experiences are subject to availability and are only available to book onsite.

Normal admission and ticket charges resume from Tuesday 28 October, noting that general admission to Auckland Museum is always free for Aucklanders.

Northern spaces now open include:

The Museum’s northern entrance and Grand Foyer, including the 1929 café
WWI Hall of Memories
Mataaho Volcanoes, home to the volcano house simulation
Te Ao Tūroa Māori Natural History
Te Onemata Ancient Worlds
Toi Kura The Mackelvie Collection
Toi Āhia Arts of Asia
Pou Kanohi New Zealand at War
Pou Maumahara Memorial Discovery Centre

The Māori Court and Pacific Galleries remain closed while essential remediation continues.

FREE Labour Weekend at Auckland Museum
SAT 25 – MON 27 OCTOBER
Auckland Museum’s 1929 northern end and Grand Foyer have reopened, welcoming visitors back to seven galleries including the much-loved Volcanoes gallery. To celebrate, Aucklanders are invited to enjoy a FREE Labour Weekend at Auckland Museum from Saturday 25 to Monday 27 October. Enjoy free performances, tours, VR experiences, and family activities all long weekend.

Free experiences are subject to availability and are only available to book onsite.

From the Southern Alps to Milford Sound, dramatic landscapes take our breath away; they might also make us rethink our next purchase.

Feelings of awe, sparked by nature’s grandeur, can inspire consumers to buy fewer but higher-quality products, according to a new study co-authored by University of Auckland marketing experts Associate Professor Yuri Seo and Divya Tewari.
 
Published in the Journal of Business Research, the study suggests awe makes people more future-focused and sustainability-minded, leading them to ‘buy less, buy premium’ such as choosing a durable, well-made item instead of several cheaper ones.

“Awe can expand our sense of time and perspective,” says Dr Seo. “It makes people think beyond immediate gratification and consider the long-term impact of their choices. That can translate into more mindful, sustainable consumption.”

Across four experiments on participants from New Zealand and the US, the researchers show that awe-inspiring imagery and videos, such as spectacular mountains, waterfalls, and lakes, can be used in marketing and education to encourage consumers to value quality and longevity over volume.

In one experiment, 150 participants were divided into three groups (awe, amusement, control group) and shown different clips: an awe-inspiring scene from the BBC’s Planet Earth II trailer, a humorous animal segment from the BBC’s Walk on the Wild Side, or a neutral video showing goby fish and pistol shrimp.
 
After watching, they completed a writing task designed to reinforce their emotional state — for example, those in the awe group wrote about a personal moment when they’d felt awe. They then rated how strongly they felt that emotion before completing what appeared to be an unrelated shopping exercise.
 
Each person was asked to imagine having an $80 budget and to choose between buying one $80 high-end sweater ‘made of wool and cashmere—a durable, premium piece that should last for years’, or four $20 mid-range sweaters, ‘made of a cotton-merino-wool blend with long sleeves and ribbing at the neckline and hem’.
 
Participants who were shown the awe-inspiring video were more inclined to buy the single premium sweater than those in the control or amusement groups, says Seo.
 
“Our second experiment explored why this happens and found that awe makes people think more about the future, which in turn increases their concern for sustainability.”
 
The third experiment ruled out the possibility that awe might make people prefer minimalism, and the final experiment tested when the ‘awe-effect’ disappears, finding that if mid-range products are clearly labelled as environmentally friendly, the influence of awe goes away.
 
“From a marketing standpoint, our findings situate awe as a powerful emotional lever that can help brands bridge the gap between consumers' sustainability values and their actual purchase behaviours,” says Seo, pointing to campaigns like Rolex's 'Perpetual Planet,' which associates its timepieces with geological timelines, and Stella McCartney's 'Nature's Couture,' which presents fashion as an extension of natural ecosystems.
 
He says these campaigns show how brands, particularly luxury brands, are leveraging awe to highlight product longevity and sustainability.