Only apply capital gains tax to gains above the rate of inflation

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Petition Action

Only apply capital gains tax to gains above the rate of inflation

Petition Details

We call on the Government to reform capital gains tax so that it is payable only on the gain above inflation, as we believe it is unreasonable not to take into account inflation.

Additional Information

We believe taxing citizens on the asserted gain in value of an asset caused purely by inflationary effects is completely unreasonable because there is no actual gain. When you are taxed on an asset because it has allegedly risen in value because of the effects of inflation, we feel it unfairly takes away from people as we believe you haven't actually made any gain unless it goes up by more than inflation. We feel it is a totally unreasonable tax in its current form.

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