Question:

Will they ever get rid of the capital gains tax?

by Guest737  |  8 years, 10 month(s) ago

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Will they ever get rid of the capital gains tax?

 Tags: Capital, gains, rid, tax

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  1. Guest737

     Revenue from the capital gains tax is now firmly entrenched in the government's budget. Since it was introduced in 1985, billions of dollars have been collected as a direct result of the tax and to remove it now would mean drastic cuts to sensitive areas such as education and health. For this reason, I believe it is here to stay. However, it is not the bogey it is made out to be and it should not really affect long-term investors. If you don't sell, you don't pay and because it applies only to gains above inflation, it is usually minimal if you do sell in the long-term. The tax was intended to encourage long-term investment and discourage short-term speculators – and this it does very effectively.

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