0 tax on the profits made from selling something you own
1 tax on the profits made from selling property or investments:
This was the point of the capital gains tax.
The price was a series of compromises, for example over capital gains tax, that reduced technical efficiency.
There were, inevitably, some concessions, and one of the most notable was over the rate at which the capital gains tax was to be charged.
It cleared the ground for a capital gains tax but also showed where the advantage of incremental change would lie (in having a tax which covered long-term gains).
Our choice of 30% for the capital income tax rate is motivated in part by their estimates and in part by the current capital gains tax rate of 28%.
It is part of a larger review of capital gains tax.
The capital gains tax package will encourage and reward long-term investment and will be fair to all.
Proper consultation is not simply a question of inviting people to write in with their views on capital gains tax.
