When capital gains are not considered as an income (as per New Zealand Income Tax Law to be precise) then why capital gains/losses end up in an income statement to calculate net income? Does that look contradictory to the tax law or I am confused with the concept. Thanks.

  • According to the NZ goverment site capital gains tax is applied to foreign bond and equity investments. Perhaps your shares are in funds with foreign holdings? – Nick Apr 28 '18 at 4:06
  • Who is generating the income statement? – Rupert Morrish May 3 '18 at 4:39

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