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Budget 2024: Indexation benefits for property sales eliminated. What does that mean? How does it impact you?
The LTCG tax rate on property sales has decreased from 20% to 12.5%, but the indexation benefit has been eliminated. Previously, this benefit allowed the adjustment of purchase prices to account for inflation, thereby lowering taxable profits.
The LTCG tax rate on property sales has decreased from 20% to 12.5%, but the indexation benefit has been eliminated. Previously, this benefit allowed the adjustment of purchase prices to account for inflation, thereby lowering taxable profits.
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