OPINION
Many of our clients are asking what's on offer from the various parties for the 2023 election, so I thought it would be useful to recap the tax changes made by Labour in their past two terms, and then canvass the offerings from political parties to reverse their changes.
As a disclaimer, I'm not a fan of this government's tax policy on residential landlords (being a landlord myself), so if you are left-leaning investor you might be better to move on to the next article.
When Labour astonished investors with bombshell tax changes in early 2021, I said I would remind our clients and readers of the “about face” the government did on tax policy in the run-up to the 2023 election. Let's not forget Grant Robertson swore black and blue the only tax change would be an increase in the top marginal rate to 39 per cent.
He said “no new taxes” but liberally interpreted that to mean he could make huge changes to existing taxes without campaigning on them transparently. He also very clearly said he would not extend the bright-line period, then he doubled it to 10
