According to the New Zealand Herald, “Economist and fund manager Gareth Morgan, who is a member of the Tax Working Group, has proposed a radical tax restructure to the group’s final public conference that would impose a Comprehensive Capital Tax (CCT) on all land, buildings, plant and equipment to raise NZ$19 billion. This money would then be used to create a flat income tax rate of 25% on all corporate, personal and trust income. It would also be used to provide each adult with a NZ$10,000 guaranteed minimum income to replace all benefits”
The Herald article is online at:
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10612839
A video of the proposal is online at:
https://www.3news.co.nz/Gareth-Morgans-radical-tax-overhaul/tabid/367/articleID/132177/cat/67/Default.aspx
A blog about the proposal is online at:
https://thestandard.org.nz/guranteed-minimum-income-capital-tax-the-way-forward/
