“..It is a mystery why Cunliffe did not come back in the second half of the debate and call Key out on misrepresenting his policy – after his advisers confirmed the family home in a trust would be exempt.
It left Key winning a debating point – even though his claim was wide of the mark.
National tried to drive home the advantage yesterday – but overplayed its hand.
In a statement Finance Minister Bill English claimed: ‘Nowhere in Labour’s capital gains tax policy does it exclude family homes owned by trusts’.
But Labour’s capital gains tax policy since 2011 has stated the family home would be exempt –
– and in a question and answer said: ‘If my family home is in a trust will it be taxed? No. The fundamental principle is that the family home will not incur a CGT’.
If Key knew that he was taking a big risk –
– but it has paid off..”
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