Originally Posted by
dobby41
Will IRD take notice though?
'Intent' is a major factor in the tax law.
If you intended to hold for the long term (and have held for years) could they say that the CG is taxable just because it now drives the majority of your 'income'?
I am told by several financial planners that it is a common tactic and is seem as being acceptable.
It is really a problem with our tax system - we tax 'income' more than we tax wealth.
I think we will have to start taxing wealth because more and more people will use this sort of construct to provide them with a 'living'.
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