Re:Anthony Levandowski ordered to pay $179M to Google
by loeg on Thursday March 05, 2020 @01:36PM
(#22496526)
That sounds essentially similar to the US system except that the US long-term capital gains tax rates are not exactly 50% of income rates. They're 0% of income rates on the low end, approximately 53-68% in most of the middle tax brackets, and 64% at the high end.
If you own things and sell them for a capital loss you get a tax credit to use later.
If you sell for a capital gain within 12 months then you will pay tax on the full amount of profit from the sale. For individuals this is just added to your income tax.
If you sell for a capital gain having held the asset for over 12 months you get a 50% discount to how much profit is taxed.
The tax credit for a capital loss can be used to offset a capital gain but it gets applied before any discount is applied.
I am not an accountant but I have listened to one.