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by ikr678
18 days ago
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On paper yes, but very few of the _actual poor_ were making capital gains on asset sales. Aus Govt figures claim 90% of people under 35 do not own shares outside of retirement funds(which get different tax treatment). It closes the loop holes where wealthy people approaching retirement would spend a few years paying very little tax and living off capital gains instead at a ~20% tax rate. |
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