New Zealand's finance minister, Nicola Willis, has publicly invited Australians dissatisfied with the recent changes to capital gains tax (CGT) to consider moving their businesses to New Zealand.The invitation comes after the Australian government announced reforms that will modify CGT rules starting 1 July 2027.Under the new regulations, Australian investors holding property for more than a year will no longer enjoy the 50 per cent discount on capital gains.Instead, the discount will be indexed to inflation, and a minimum tax of 30 per cent will apply on any gains.The reforms aim to encourage investment in new housing over established properties, supporting housing supply.

Willis emphasised New Zealand's straightforward tax system, which currently does not have a comprehensive CGT, and highlighted the country's pro-growth policies, low tax rates, and incentives for capital investments.The comments appear to echo the 2006 Australian tourism slogan 'Where the bloody hell are you?Come over'.New Zealand’s nearest equivalent to CGT is the bright-line property rule, taxing profits on properties sold within two years.

The move also occurs in a politically charged environment, with New Zealand's Labour Party planning its own broader CGT introduction ahead of the 7 November election.Willis framed New Zealand as an attractive destination for entrepreneurs seeking a simplified, growth-focused business environment.