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One continuing source of gains was bonds.
The catalyst for the latest construction gains was a positive update from Taylor Wimpey.
The tax on long-term gains was also cut, to 15percentt from 20percentt.
The company said profit excluding one-time gains was 12 cents a share.
Partly offsetting those gains was the continued erosion of the local wired telephone business.
Leading the gains was Juniper Networks, which provides Internet networking services.
But just how information technology produced these gains was far from clear.
In 1999, the Howard government changed the way capital gains was taxed – effectively halving it to offer a 50% discount.
But the only reason pensioners did not share in those gains was that their personal allowance was already high.
C1 Folding Up Tiger's Tent Julian H. Robertson Jr., whose long-term record of gains was tarnished by recent losses, confirmed that he was closing Tiger Management.
Consider what happened in the late 1980's, after the holding period for long-term capital gains was increased from 6 to 12 months.
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CEO of Professional Science Editing for Scientists @ prosciediting.com