Capital result.

Australian Doctor,  February, 2006  

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Changes to capital gains tax have benefited investors. By Noel Whittaker

WHEN capital gains tax was introduced just over 20 years ago interest rates were 14%, inflation 10% and the top marginal tax rate of 60% cut in when income reached just $35,001.

Our tax system then was great for property and bad for shares, with dividends taxed twice. Companies paid tax at 46% on profits and then the shareholders paid up to 60% tax on dividends that had already been taxed at 46%.

But if you invested in property using negative gearing, you had it made. The top tax rate of 60% meant ...

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