“The link between individual investment in productive assets and the strength of an economy - and the wealth of its citizens - is well proven. New Zealand is currently lagging in the level of local investment. The recommendations are an important building block to creating an environment where New Zealanders feel encouraged and empowered to invest,” said Weldon.
“Tax is one piece of the puzzle that's been excluding them from that environment, and hence limiting New Zealanders' - and New Zealand 's - future growth prospects.
“The moves signalled by the Stobo report to work towards aligning the definition of taxable income from such investments with that applied to direct investments will serve to open the door further to meaningful investment in this country,” Weldon said.
“NZX views the prospect of this type of tax treatment for managed funds as a real plus. There's literally a world of opportunity out there for small and medium investors to grow their wealth and help to secure their future through both direct and managed investments.
“We're looking forward to some real action on this front, and we congratulate Dr Cullen and Craig Stobo on a large step in the right direction, and for cranking up the momentum in this important area,” said Weldon.
