capital gains

capital gains

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is the calculation for capital gain tax in the current system fair ?
arasa ajentha

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By kevin9
23rd Apr 2008 13:08

drivel
Mahoney, how can you agree with a question and a non-sensical question at that. Talk about sitting on the fence "It may be, it may not be". Sounds to me as is if Arasa is taking a leaf out of Gordon Brown's book re "the right/fair amount of tax". What exactly is the right amount of tax ? I would bet that many personal taxpayers feel that they pay too much tax and juxtaposed with this are the very large companies which pay relatively small (if at all) amounts of CT. So is the new CGT calculation (introduced by March 08 Budget) fair - who cares, we are now stuck with it. Was it ill-conceived and introduced with little consultation - I believe that it was and this has happened on numerous occasions with the present Government. And no I am not a Tory, but I have been dismayed by some of the changes in taxation over the last few years. When I did my accountancy training (many years ago!) CGT was relieved by indexation allowance which I always thought seemed fair - afterall why should people by taxed on inflationary increases in values. If it wasn't broke, why fix it. Unfortunately Mr Brown decided to change it with taper relief and this had to be revised over numerous years because he got it wrong first time round. Now Mr Darling has decided to throw out the baby with the bathwater under the banner of simplification. Ludicrous.

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By AnonymousUser
22nd Apr 2008 17:57

i agree with arasa
sometimes its fair, but then again other times it's not so fair.

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By User deleted
22nd Apr 2008 09:21

Well that's specific then
Yet again there is no context to this question. Regards Peter

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By spike418
22nd Apr 2008 08:29

Please define .........
What you mean by fair and to whom?

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