8 Questions |
By Tc271 | Last updated: Jan 15, 2013
| Total Attempts: 273
The Coalition Government is proposing to raise the rate of Capital Gains Tax on non-business assets from 18% to as much as 50%. But how much do you know about Capital Gains Tax? Take our quick, eight-question quiz and find out!
What is the average Capital
Gains Tax (CGT) rate in western (OECD) countries?
When Nigel Lawson raised
the CGT rate from 30% to 35% in 1987 and then to 40% in 1988 what was the
effect on revenues after 2 years
What, according to recent
US estimates, is the revenue-maximising rate of CGT?
Same as income tax rates
What is the Capital Gains
Tax (GCT) rate in Belgium?
Who said: “The tax on
capital gains directly affects investment decisions, the mobility and flow of
risk capital….the ease of or difficulty experienced by new ventures in
obtaining capital, and thereby the strength and potential for growth in the
President Ronald Reagan
President John F. Kennedy
President George W. Bush
President Bill Clinton
In 1978 the US CGT rate
fell from 35% to 20%. What happened to revenues? They…
Increased by 46%
Decreased by 15%
Increased by 20%
Decreased by 5%
Between 1968 and 1972 US
CGT rates increased by 10 percentage points. What happened to revenues? They…
Increased by 18%
Increased by 10%
Stayed the same, despite the rise
Fell by 21%
Who said “The point I
made…was its major impact is to impede entrepreneurial activity and capital
formation. While all taxes impede economic growth to one extent or another, the
capital gains tax is at the far end of the scale. I argued that the appropriate
capital gains tax rate was zero.”
Professor Milton Friedman
Stanley Fink, co-Treasurer of the Conservative Party
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