New Zealand currently charges some classes of capital gains to income tax, but there is no tax on capital gains as such. The Tax Working Group recently established by the government has however recommended that there should be such a tax. That is, it has recommended that New Zealand should, like...

This article reviews the case for taxing capital gains in New Zealand. The analogy is drawn between a taxation system and a medieval toll bridge. The wider the span of the bridge the more traffic can pass in the same time period. This can allow a reduction in the rate of toll, reducing the...

In 1999 the Ralph Committee recommended sweeping reforms to the Australian income tax system. Its final report, consisted of eight parts and made 280 recommendations. Many of these have since passed into law in a staggered series of stages since 1999. Numerous CGT-related recommendations were...

Exempting capital gains from taxation clearly favours large established business at the expense of new and small business, and promotes an increasing concentration of wealth at the expense of low and middle income taxpayers . The business submissions to the Government’s Tax Review 2001 though...

In the current US tax system, capital gains are taxed at a lower rate than ordinary income. What does that mean for the sale of IP and intangible assets? Is it possible to convert ordinary income to capital gain by changing the form of the transaction? This article will address anomalies in the...

In seinen Beschlüssen vom 7. Juli 2010 hat das Bundesverfassungsgericht neben seinen Ausführungen zum Vertrauensschutz bei rückwirkender Änderung von Steuergesetzen neue Grundsätze für die Besteuerung von Wertzuwächsen niedergelegt, die das Jahressteuerprinzip erheblich modifizieren....

How should immovable property (in particular residential property) be treated under a value added tax? This paper considers whether proposals to tax all sales of immovable property (including consumer to consumer sales) are preferable to existing models (in which the first sale of new...

In short sales, capital gains are realized upon the replacement of the borrowed stock, and not upon its disposition by the short seller. Therefore, a taxpayer can simultaneously own a share of stock and short sell an identical stock to effectually dispose a share of stock without triggering a...

This article examines two broad areas of capital gains tax (CGT) design in respect of the taxation of non-residents. The first area relates to the domestic design of the tax and focuses on whether a CGT should apply to all assets held by non-residents or to some limited subset of those assets...

The objector in Anzamco Ltd v Commissioner of Inland Revenue (1983) 6 NZTC 61,522 was a company that had bought and developed a farm and sold it at a significantly higher price. The Commissioner taxed the profits under paragraphs 67(4)(a) and (e) of the Income Tax Act 1976. The court allowed the...