Re:Average home prices in New Zealand reaches 8.8 times aver...
by jusssi on Friday May 06, 2022 @05:39AM
(#31283215)
Most Euro countries have capital gains tax rate that's mostly flat and significantly under 50%. By the time the progressive income tax rate starts to exceed the near-flat capital gains tax rate, people start finding ways of converting their income to capital gains.
[ Parent
| on HN ]
Re:Average home prices in New Zealand reaches 8.8 times aver...
by zer0tonin on Friday May 06, 2022 @05:52AM
(#31283315)
Not many people can actually do that no
Re:Average home prices in New Zealand reaches 8.8 times aver...
by syrgian on Friday May 06, 2022 @06:00AM
(#31283359)
GP must think the maximum tax rate is reached at 5 million euro a year. In most Euro countries you're at 45% (combining both social security and income tax) at around 50k/year. Or actually close to 60% taxed if you count the 33% paid by the company in social security tax that is somewhat hidden to the employee.
Re:Average home prices in New Zealand reaches 8.8 times aver...
by jusssi on Friday May 06, 2022 @06:27AM
(#31283525)
In the well known tax haven where I live, Finland (sum of taxes and employee part of pension and other social security, 2020. YMMV due to municipalities setting different rates, deductions etc):
30% at 50k
40% at 100k
49.5% at 250k
52% at 500k
53.5% at 1000k
I have these handy in a spreadsheet I use to calculate.. things. (Nope, not making enough yet for special arrangements to make sense. edit: aside from the commonly used tricks my current employer already provides)Capital gains is 30%-34%.
Re:Average home prices in New Zealand reaches 8.8 times aver...
by yywwbbn on Friday May 06, 2022 @07:15AM
(#31283780)
https://en.m.wikipedia.org/wiki/Tax_rates_in_Europe#/media/F...
The average in Belgium is around 45k, in Germany 47k, France is ~40k. So aside from Belgium if by close to 60% you actually mean close to 50% then yeah you’re right…