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the tax working groups proposal for taxing more capital gains could raise roughly eight billion over the first five years the government has asked for suggestions for how that money could be used to reduce taxes so that New Zealandamp;#39;s total tax tag doesnamp;#39;t increase the group has come up with a range of ways this could be done that would support individuals and businesses lowering personal income tax one way to cut taxes for individuals is by allowing them to earn more at the lowest tax rate this would benefit all full-time workers it would especially support those transitioning into work and help reduce inequality encouraging saving another way is by reducing taxes for Keamy savers helping people save more for retirement these reductions could mean that low and middle income New Zealanders pay less on their KiwiSaver even if capital gains on their KiwiSaver accounts a text supporting businesses other measures could support businesses to grow be more productive and lower
