Won't work, Businesses can claim expenses involved in running said business. Most of the wealthy already have company and trust structures in place so they will just run the investments through these to effectively continue NG. Much harder for the average mum and dad on average wages to legitimately set up and run a company /trust structure.
No CGT.
That's a good way to make the rich richer....
So punters without millions in the bank cannot claim expenses on their investments therefore making it harder to save for retirement.
But squillionaires can use their capital to buy and sell what ever they want without paying tax...
