WESTERN AUSTRALIA PARTY

News

NO! - TO CAPITAL GAINS TAX CHANGES

The WESTERN AUSTRALIA PARTY opposes the proposed changes to Capital Gains Tax.

The policy would cause more than just the obvious doubling of Capital Gains Tax.

The change would add layers of complexity to the system where there would now be two grandfathering dates to consider, September 1985 and January 2020.

Wills and estate planning would become much more complex leaving beneficiaries of inheritances paying the price.

A savvy investor will always time the sale of his or her assets to low-income years to reduce the tax burden, as the ‘sale proceeds’ are added to his or her taxable income.

Everyday Australians who come into these assets, via inheritance, are much less likely to have access to the advice they need, or ability to time sales to benefit them the most.

Low-income earners are the ones who will pay the price and we believe will be hit with the brunt of the tax.

The WESTERN AUSTRALIA PARTY supports Capital Gains Tax in its current form and recommends Government look to other tax reform.

 

Julie Matheson, BA (UWA), Dip FP (Deakin), CFP (FPA)

Party Leader and Senate Candidate for the WESTERN AUSTRALIA PARTY

Contact: 0409 294 495 | e: This email address is being protected from spambots. You need JavaScript enabled to view it. | w: westernaustraliaparty.org.au

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Headquarters:
Perth, Western Australia
PO Box 8134, SUBIACO  WA  6008
Phone: 0419 906 393
Email: wa@westernaustraliaparty.org.au

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Authorised by S Phelan, Western Australia Party, 139 Coghlan Road, SUBIACO WA 6008

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