This article proposes the abolition of the 50% capital gains tax (CGT) discount for personal taxpayers and its replacement with a non-cumulative annual tax-free threshold for the taxation of capital gains. This reform, it is argued, would considerably enhance the equity, efficiency and...

New Zealand is currently the only member country of the Organisation for Economic Co-operation and Development (OECD) without a formal, comprehensive regime in place for taxing the capital gains made by its personal and corporate residents. Being the outlier is insufficient justification for...

The Australian Capital Gains Tax' ("CGT") is now well established, but cannot be taken for granted. It was introduced primarily for reasons of equity, although there were also strong efficiency arguments identified in its favour. Most commentators would accept that the criterion of simplicity...

Australia experienced a major reduction to the rate at which capital gains are taxed on the introduction of the “50% CGT discount” in the 1999‑2000 fiscal year. Claims made at the time of this effective capital gains tax (CGT) rate reduction suggested it would lead to increased...

Last year's Budget presented by the Chancellor of the Exchequer, Gordon Brown, on March 17, 1998, proposed radical changes to the way the capital gains of individuals and trusts are to be taxed in the United Kingdom. These changes--and in particular the abolition of indexation for assets...

This paper reports upon one aspect of a broader study into the impact of tax design on the compliance costs of the tax system. The focus of this paper is on a survey of Australian tax practitioners which was conducted in order to establish their attitudes to compliance cost issues relating to...

This article explores the tax compliance costs — those costs incurred by taxpayers or third parties, such as businesses, in meeting the requirements laid upon them in complying with a given structure and level of tax — that New Zealand could expect to encounter if a capital gains tax (CGT)...