It also occurred to me that the worked example in the piece ignores large CGT concessions for active small businesses, such as the 50% active asset reduction. These substantially reduce real world CGT.
The piece confounds more than it enlightens.
David Sligar
Difficult to overstate how misleading this is. Any % tax on capital gains (sale price less purchase price) will by mathematical construction result in differing rates relative to sale price. Including the existing regime! That’s not a “profound oversight”, that’s what CGT *is*.
David Sligar
Strange piece. Prof Holden thunders about a "productivity tax" that "punishes high productivity businesses" by imposing "vastly different effective capital gains tax rates".
Except it's not true. His numbers rely on the wrong denominator and money illusion.
