it won't affect much if one only has one or 2 properties.
It will be inconvenient if you have more properties.
Tax haven planning will become more and more popular for rich people. NZ is no longer a place to play the game.
It will be a place for people who chose to work and pay more taxes and in the rat race.
For the rich, they can park their investment somewhere but not acquiring tax residency in nz and still enjoy the facilities of this country.
Hong kong, singapore, are still very much tax haven countries.
Other countries, cayman island, Panama, isle of man, cook islands, labuan Island etc, they can be used to park investments.
Singapore and hong kong has good rule of law, it can be a good choice while letting your children have schooling in NZ on taxpayers' expense.
That is why the National Party will not touch this topic (CGT), it is driving people away more and more. By then, if most people in the countries are employees, who are going to be employers? If most people are welfare beneficiaries in a country, who are going to pay taxes? The hard working will get punished more and more till one day they leave the country.
Labour's policy is reflecting on the type of mentality they have in their team of Cabinet.
1) They delegate the decision making to a group of people who will favour the tax (CGT). They are people in this area and have had want it on for ages.
2) a 4.5 million population country is even smaller than the city of Melbourne is overly regulated on compliance and tax matters leaving no room for small (startup) businesses and average family who chose to progress.
3) if Labour's coalition can only see the world in their own perspective, that is how small-mindedness they are and not knowing there are choices that many companies and multinationals can choose other than NZ.
4) If you choose "just to get by" this is not a bad country, however, IF you choose to drive and capitalise on your youth and future, I would say, don't waste too much of your time here.