The Tax Working Group is understood to have stopped short of recommending a fully implemented capital gains tax in an interim report.

It is thought the Tax Working Group will seek further input before making a final recommendation on the controversial tax.

John Cuthbertson is the tax leader of New Zealand for chartered accountants of Australia and New Zealand and told Mike Hosking it is a very complex situation

"They may not make a full recommendation but make a proposal for the government to make the decision."

LISTEN ABOVE AS JOHN CUTHBERTSON SPEAKS TO MIKE HOSKING