I think the problem with tax is it's based on your income for one year only.
For those of us who have had no income over several years, and lived frugally on saved capital, when we do eventually have a year where one of our investments makes some money, we can end up being pushed into the higher tax brackets which effectively means we pay heaps more tax than someone who earns the same amount of money over several years
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I think the problem with tax is it's based on your income for...
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