Psst-Wanna Shelter?
Article Abstract:
A Tax Shelter Reform Act was introduced by Senator Daniel Patrick Moynihan in an effort to curb abusive uses of tax shelters. The 1981 tax act, which reduced from seventy per cent to fifty per cent the maximum rate on individuals' investment income has not discouraged taxpayer use of tax shelters. An estimated $8.4 billion was invested in shelters by taxpayers, from the very rich to the middle class, in 1983. There appear to be several reasons for this surge.
Publication Name: Economist
Subject: Economics
ISSN: 0013-0613
Year: 1984
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Gilt Off the Gingerbread
Article Abstract:
The British Inland Revenue is imposing new taxes on bank's savings deposits and on building societies gilts profits. The building societies, which owned 9.4 per cent of the tradeable gilts a year ago, are calling the treatment unfair. Gilt unit trusts (mutual funds) may be subjected to new taxing regulations as well.
Publication Name: Economist
Subject: Economics
ISSN: 0013-0613
Year: 1984
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