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White paper capital gains proposals creates pensioner dilemma



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PRESS RELEASE

WHITE PAPER CAPITAL GAINS PROPOSALS CREATES PENSIONER DILEMMA

- TUC-KEY

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PENSIONERS COULD NOW FACE AN ADDITIONAL PROBLEM I F A R T I F I C I A L L Y

r^\LOW VALUES ARE AGREED BY THE SOCIAL SECURITY DEPARTMENT UNDER NEW -JL

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GOVERNMENT ASSET TEST GUIDELINES.

AS THE WHITE PAPER CAPITAL GAINS TAX PROFOSAL CONTAINS A DEATH

DUTY ACHIEVED BY REALISING A CAPITAL GAIN AT DEATH, THE LOW VALUE

ACCEPTED BY SOCIAL SECURITY COULD BE USED BY A MUCH LESS SYMPATHETIC

TAX COMMISSIONER AS THE STARTING FOINT FOR HIS CAPITAL GAIN

CALCULATION.

QUITE CLEARLY HE WILL USE THE VERY HIGHEST VALUE HE COULD

ROVE TO ASSESS THE VALUE AT THE TIME OF DEATH

I T APFEARS THAT THE GOVERNMENT HAS CREATED A POSITION OF C O — ■ v — J \

n PAVING IT S CAKE AND EATING I T MR TUCKEY CONCLUDED.

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