7 ms·
The masses don't have wealth, especially if you exclude personal dwellings. In any case, you need "balance sheets" to have CGT, which in theory we do.
by dalbasal 5y ago
The masses don't have wealth, especially if you exclude personal dwellings. In any case, you need "balance sheets" to have CGT, which in theory we do.
- TimPC 5y agoCapital gains taxes are based on difference between buy and sell price of specific assets and require only those two data points. That’s very different from accurately pricing an asset yearly.
- dalbasal 5y agoTechnically, or originally perhaps, capital gains are paid based on gains. There are a lot of clauses and loopholes that allow for tax on gains to be deferred until they are realised.