Tax white paper: Treasury urges more GST, less income tax. Dividend imputation at risk, page-2

  1. 37,911 Posts.
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    " Since late 1999, capital gains tax has applied to only half of the profit made when each rental property is sold. The paper says it is this arrangement rather than negative gearing itself that is driving investment in rental properties."

    i agree

    all the CGT discounts & concessions (excluding the "retirement exception") need to be abolished

    the average Australian does not understand how these Howard discounts & concessions are bleeding the system

    for example, say you owned a small panel beating shop or owned a warehouse in Sydney's inner west for the last 30 years. then, today, a property developer offers you $15M for your property to build high rise apartments. you pay zero tax on your profit under the CGT concessions. its all B.S.

    in the mean time, all of the many small businesses that go broke also bleed our economy due to the debts they owe others, including the tax office

    so these B.S. CGT concessions introduced by Howard, of which most of the public is oblivious to, bleed the system by rewarding successful small business & encouraging unsuccessful small businesses to rack up debts to others

    its all B.S.
 
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