Taxing Personal Capital Gains in Australia: An Alternative Way Forward
Australian Tax Forum, Vol. 30, 2015
27 Pages Posted: 18 Dec 2015
Date Written: September 3, 2015
This article proposes the abolition of the 50% capital gains tax (CGT) discount for personal taxpayers and its replacement with a non-cumulative annual tax-free threshold for the taxation of capital gains. This reform, it is argued, would considerably enhance the equity, efficiency and simplicity of the Australian CGT regime, as well as providing a positive revenue outcome for the Treasury.
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