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Individuals paid capital gains tax at their highest marginal rate of income tax (0%, 10%, 20% or 40% in the tax year 2007/8) but from 6 April 1998 were able to claim a taper relief which reduced the amount of a gain that is subject to capital gains tax (thus reducing the effective rate of tax) depending on whether the asset is a "business asset ...
From 1954 to 1967, the maximum capital gains tax rate was 25%. [12] Capital gains tax rates were significantly increased in the 1969 and 1976 Tax Reform Acts. [11] In 1978, Congress eliminated the minimum tax on excluded gains and increased the exclusion to 60%, reducing the maximum rate to 28%. [11]
That law also lowered the capital gains tax and taxes on dividends. Collectively, the Bush tax cuts reduced federal individual tax rates to their lowest level since World War II, and government revenue as a share of gross domestic product declined from 20.9% in 2000 to 16.3% in 2004. [10]
"People really didn't know about it until the end of last year," Miller said. "It was out there, but no one really knew much about it." Many of the state's small business owners still don't know ...
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CGT can refer to: Canada's Got Talent; General Confederation of Labour, various labour unions, initials in Latin-based languages General Confederation of Labour (France) California Guitar Trio; Capital gains tax; Combinatorial game theory; Compagnie générale transaérienne, a French airline (1909–21) Compagnie Générale Transatlantique, or ...
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