Answer is not convincing enough. Capital gains taxes don’t stop speculation. This might effect small players but will not stop the big players. CGT can be easily avoided and it is one of the many tax loopholes associated with housing.
Government often urge capital gains tax is the solution to the housing crisis. But the recent evidence depicts that de facto capital gains tax - the bright line test is not knocking down the bubbly market. International market is evident that capital gains taxes h
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