View Poll Results: Should there be a Capital Gains Tax on Property
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- 131. You may not vote on this poll
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No
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Yes
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Goff is just an idiot
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Epic fail for Labour
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Originally Posted by minimoke
A gain will bump people into the next tax bracket, not necessarily the top bracket
Income |
Tax rate |
Effective tax rate |
$0 – $14,000 |
10.5% |
10.5% |
$14,001 – $48,000 |
17.5% |
10.5 - 15.5% |
$48,001 – $70,000 |
30% |
15.5 - 20.0% |
Over $70,000 |
33% |
Sure - their top bracket. Someone with few non-exempt assets will probably end up paying less tax under the TWG proposals.
Besides If the TWG’s are ever introduced and CGT receipts become meaningful then maybe those tax bands will be more generous and the top rate of income tax may be dropped to 28%...However our “poor” taxpayer may have already shifted all his equity into his over-capitalised multi-million Dollar exempt principal residence by then.
Last edited by Bjauck; 15-03-2019 at 09:36 AM.
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