We don’t inflation-proof any other parts of the tax system, so why should we give special treatment to capital gains?
- Emeritus Professor, School of Accounting, Auditing and Taxation, UNSW
Tax advisers are more likely to act as “tax exploiters” for wealthy clients but “tax enforcers” for the rest of us.
Some tax deductions for the cost of managing tax affairs exceed $1 million, but high wealth individual\s can write off the expense in other ways.
A high level of perceived corruption by top government officials deters people from being tax-compliant.
Tax systems are notoriously bad for doing things other than raising revenue.
Treasurer Joe Hockey’s small business package may lead to gaming of the system and fairness is an issue.
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