Yes I agree. But under the current taxation system NG is the equal treatment of gains and losses. Could the system be better no doubt the current taxation system is a complex mess of crap that gets tweaked by each successive government and decades of tax rulings that just make it worse with time. Ultimately I think we should throw the whole system at both a federal, state level out the window and have a higher GST to compensate - this would then encourage people to save money and they wouldn't be taxed until they have a spend event. And bottom line while people will utilise this to save and pay no tax for a period, ultimately they will spend the money on something otherwise what is the point.
