No most likely people will only need a PTS, this involves minimal human intervention if requested online.
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No most likely people will only need a PTS, this involves minimal human intervention if requested online.
CGT is really a tax on inflation !!!!
Purchase Price 500,000
Average Inflation 3%
CGT Cap Gain P/Cent
Year Inflation Cap Gain 15% After Tax Loss
1 515,000 15,000 2,250 12,750 0.44%
2 530,450 30,450 4,568 25,883 0.86%
3 546,364 46,364 6,955 39,409 1.27%
4 562,754 62,754 9,413 53,341 1.67%
5 579,637 79,637 11,946 67,691 2.06%
6 597,026 97,026 14,554 82,472 2.44%
7 614,937 114,937 17,241 97,696 2.80%
8 633,385 133,385 20,008 113,377 3.16%
9 652,387 152,387 22,858 129,529 3.50%
10 671,958 171,958 25,794 146,164 3.84%
11 692,117 192,117 28,818 163,299 4.16%
12 712,880 212,880 31,932 180,948 4.48%
13 734,267 234,267 35,140 199,127 4.79%
14 756,295 256,295 38,444 217,851 5.08%
15 778,984 278,984 41,848 237,136 5.37%
16 802,353 302,353 45,353 257,000 5.65%
17 826,424 326,424 48,964 277,460 5.92%
18 851,217 351,217 52,682 298,534 6.19%
19 876,753 376,753 56,513 320,240 6.45%
20 903,056 403,056 60,458 342,597 6.69%
Cpoied from a spread sheet, Hope it comes out right
Cunliffe tried to explain that the 15% they went with instead of tax payers marginal rate was in part 'an allowance for inflation'
If they get it in then watch the rate increase a year or down the track. The more they get the more they will waste.
That depends on whether the tax is on the nominal gain, as Goff's scheme intends, or the real gain, as is in many countries. Nominal gain is esay to impose and collect, but quite unfair, whereas the real gain leads to huge costs, both for the victim and the IRD.
Belg..... I dont think so.
Fungus....... Yes heg...zak...ally.....
Q. Are we going to see a CGT on Gold ???
What a can of bloody worms that will open !!!
e.g. some people have been accum'ing for years,
how are they going to prove their purchase prices.
and so on !!
BB
P.S. black markets ???