Businesses worry about potential capital gains tax

Anticipation about whether a capital gains tax has been signed off is mounting as the Prime Minister refuses to confirm whether it's been given the tick. The deadline of the end of April is fast approaching and those in the firing line are hoping the initial recommendations by the tax working group will be substantially toned down. The Wellington Chamber of Commerce is warning a capital gains tax would dis-incentivise businesses to expand, saying its members were overwhelmingly negative about the tax.