why it is “fair” when that asset is the “family home”
It cannot be fair
No haiku needed for this
In the long term it would make no difference if the family home was subject to CGT, but it simply isn't possible to implement politically. Which you know very well, so raising it as a criticism is disingenuous.
the general issue of whether that $15K is better left in the hands of individuals
Yeah nah. I get allowing folks to make decisions for themselves. But really? Even the US of A uses capital gains tax. It really really isn't that big a deal.
Capital gains is a way of making money - in most societies the govt takes a bit of any money you make to manage shit, shit you want. Why should there be a huge loophole where folks can make money - serious money - without paying tax?
One thing it's worth reminding the "end of the world is nigh if we have CGT" folks is - sure you pay CGT, so if you made $100k capital gain you pay $15k to the govt - you still get $85k "profit". If the rate matched you highest tax rate that might get more interesting.
All a 15% CGT does is shift the balance a little away from a capital gain mentality.
It's also worth noting that every tax review (by folks who are meant to know about such things) in the last 3 decades has recommended a CGT.
Yup, learning from another is a two way process.
Are you prepared to learn from this thread, if not then the chances of you being a dick go way way up, and the chances of someone shutting you down with privilege, mansprain, tone go way way up.
But you can learn without another person so where does that fit Jackie?
Well, I don’t have a dishwasher. Or a coffee machine. Or an ipad. If I had a dishwasher, I would let it boss me around as much as it liked.
How can you call yourself privileged?
I have managed to jack this thread AGAIN
No you just randomised the conversation direction. Which is one of the things I love most about conversations. And since this has become a conversation about conversations ...
And I really want a new dishwasher (just because, ok) but after 20 years mine is still working perfectly.
Burn the heretic!
20 lashes of the bottle brush
It’s going to be essentially a dishwasher-based religion.
You can worship but not washup
You have to give people room to take Megan's second option. (Yes, yes, I just giggled smuttily.)
Oh, puh- lease!
Dude! I left it alone, couldn't you?
RB aged 14
I always google unfamiliar terms
Every post of Emma's makes me learn another 5 terms, some of which I have to try very hard to unlearn ("I can't be knowin' that!"). Of course you get really caught out when you know the exact meaning of a word like cis* and then get all confusticated.
* oh and just to note in biology cis and trans are always italicised to indicate their latin origin - 'cos I know you wanted me to pass on my knowledge and wisdom**
**WTB sarcasm tag