In 2003, New Zealand proposed an agricultural emissions research levy to be collected from livestock farmers. The tax was to be used to fund research into the livestock industry's emissions of gases.
A tax on the profit made when selling or disposing of an asset such as investment properties, shares and collectables. The net capital gain amount, or the discounted capital gain amount in certain circumstances where a discount applies, is added to assessable income and income tax is then calculated on the taxable income. A person’s main residence (their home) is generally exempt and motor vehicles are exempt from CGT.read more glossary terms