B beattie Registered User Messages 96 17 Oct 2006 #1 Soory if this is quite trivial but someone told me that McCreevy abolished indexation for CGT purposes a few years back. Is this true?
Soory if this is quite trivial but someone told me that McCreevy abolished indexation for CGT purposes a few years back. Is this true?
J jpd Registered User Messages 3,891 17 Oct 2006 #2 Yes, no indexation from 2003 on and the indexation factors for 1986-2002 are fixed.
A asdfg Registered User Messages 1,638 17 Oct 2006 #3 In fairness to charlie he also reduced the tax rate from 40% to 20% - not a bad tradeoff
J jpd Registered User Messages 3,891 17 Oct 2006 #4 No, but now you are being taxed by stealth on account of inflation. Assuming your investments keep pace with (European) inflation of 2.5% at a minimum, that mounts up year after year. Yoou now need to make inflation +25% just to stand still.
No, but now you are being taxed by stealth on account of inflation. Assuming your investments keep pace with (European) inflation of 2.5% at a minimum, that mounts up year after year. Yoou now need to make inflation +25% just to stand still.
U ubiquitous Registered User Messages 3,782 17 Oct 2006 #5 asdfg said: In fairness to charlie he also reduced the tax rate from 40% to 20% - not a bad tradeoff Click to expand... I don't think this could really be described as a tradeoff- 20% rate was introduced in 1997, freezing of indexation in 2002 - over five years later.
asdfg said: In fairness to charlie he also reduced the tax rate from 40% to 20% - not a bad tradeoff Click to expand... I don't think this could really be described as a tradeoff- 20% rate was introduced in 1997, freezing of indexation in 2002 - over five years later.