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How is that calculated? Cash in an account is fairly easy…but stocks and shares? Property assets? Cars/boats/aircraft? Furniture? Art? Intangible assets such a
by manarth 10y ago
How is that calculated?
Cash in an account is fairly easy…but stocks and shares? Property assets? Cars/boats/aircraft? Furniture? Art? Intangible assets such as patents or licences?
- charlesdm 10y agoYou would probably have to self assess. Fortune and wealth taxes tend to cost more to collect than they bring in, because it's extremely hard and labour intensive to verify the submitted data. Aside from being an "equality tax" (which policy makers in a country might think is a good thing), it has very little use.