Research Report Taxing Capital Gains in Australia: Assessment and Recommendations
Leonard E. Burman
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One of the most vexing and contentious issues in taxation is the proper treatment of capital gains-the increase in value of an asset such as shares of company stock or a business. In principle, under an income tax, capital gains should be included in the tax base as they accrue. In practice, if they are taxed at all, capital gains are almost always taxed only when an asset is sold (or "realized") and generally at lower rates than other income.
Research Areas Economic mobility and inequality Taxes and budgets
Tags Fiscal policy Taxes and business
Policy Centers Urban-Brookings Tax Policy Center