The BC NDP introduced capital taxes, slashed funding to universities, but suffered the most for bringing clarity to the accounting Social Credit had used, and showed that BC was significantly in debt.
From 21 September 1999, after a report by Alan Reynolds the 50% capital gains tax discount has been in place for individuals and some trusts that acquired the asset after that time and have held the asset for more than 12 months, however the tax is levied without any adjustment to the cost base for inflation.
Capital gains tax is payable where a person makes a gain on the sale of assets, called chargeable assets.
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Heavey donated £10,000 to the party and this was believed to have been in return for Hague’s cooperation in the dispute, during which he reportedly telephoned the Ugandan President Yoweri Museveni to ask for Tullow Oil to be let off a £200 million capital gains tax bill.
To address this concern, U.S. Representative Sander M. Levin introduced H.R. 2834 on June 22, 2007, which would eliminate the ability of persons performing investment-adviser or similar services to partnerships to receive capital-gains tax treatment on their income.