CGT changes are adjusted for inflation and still represent an extremely attractive vehicle for people. What else are you going to do with money you’ve amassed, sit on it like a dragon?
All it does is shift some or the tax burden to rich arseholes and make hoarding land less attractive (even adam smith thought landlords fucking sucked).
That’s a hilarious misrepresentation of tax laws in NZ lol but just taking the logic, why doesn’t everyone just only invest in panama or some other tax haven?
Could it be because more than just “how lowest tax?” goes into where people can start businesses? Hmmmmmmm?
ryannathans@aussie.zone 1 day ago
It is bad, the changes discourage investment in creating new businesses in Australia. It’s going to screw the country in the long term
naevaTheRat@lemmy.dbzer0.com 1 day ago
citation needed.
CGT changes are adjusted for inflation and still represent an extremely attractive vehicle for people. What else are you going to do with money you’ve amassed, sit on it like a dragon?
All it does is shift some or the tax burden to rich arseholes and make hoarding land less attractive (even adam smith thought landlords fucking sucked).
ryannathans@aussie.zone 1 day ago
Increasing CGT to one of the most expensive in the world doesn’t need a citation… Engage in some basic thought.
You create a business, take on massive risks, fund it yourself even, then when you go to sell you’re looking at essentially 100% capital gain
That’s not extremely attractive. Why not create the business in Nev Zealand where that would incur 0% tax, because they don’t have CGT?
naevaTheRat@lemmy.dbzer0.com 14 hours ago
That’s a hilarious misrepresentation of tax laws in NZ lol but just taking the logic, why doesn’t everyone just only invest in panama or some other tax haven?
Could it be because more than just “how lowest tax?” goes into where people can start businesses? Hmmmmmmm?