Quote Originally Posted by CJ View Post
yes. Income tax but on capital gains. Provided you factor in inflation somehow, I dont see why income gains should be taxable but capital gains shouldn't be. Anything that increases wealth.
But capital gained is treated as income and taxed already for many property investors. The hoi polloi seem to think that investors can just sell properties and pocket the capital profit. Will be interesting to see if Goff/Cunliffe are suggesting that they should now declare the profit as income and pay a CGT as well. Or are they looking more at areas that are almost always exempt? Mainly these are farms and holiday homes, or perhaps a second home such as an inner city apartment.