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cy g. · 2024年06月14日

如题

  1. CFA III
  2. 个人IPS

NO.PZ2021090805000020

问题如下：

Bourne inherited a large estate (stock) from her parents and approached John for tax planning, who is concerned about Bourne's current tax situation. Bourne's cost base for inheriting shares from his parents is almost zero. John reminded Bourne that Canada does not have an estate tax, but a capital gains tax, with half of the capital gains taxed at the marginal tax rate of personal disposal of property.

John's concern about the tax nature of Bourne's impact is likely to be described as a tax targeting:

选项：

A.

wealth

B.

income.

C.

value added.

解释：

B is correct. Bourne inherited shares from his parents with significant capital gains: his cost base is approximately zero, resulting in the disposal of these shares at current market prices through the terms of the shareholder agreement. In Canada, one-half of capital gains are subject to tax at the individual’s marginal tax rate. This is a tax on income.

A is incorrect. Canada does not have an inheritance tax, which would be a wealth tax.

C is incorrect. Value added tax is a tax assessed in the intermediate steps of producing goods or services, ultimately resulting in a consumption/expenditure tax.

B是正确的。Bourne从父母那里继承的股份有着巨大的资本收益：他的成本基础约为零，通过股东协议中的条款导致的处置，这些股份以现在的市场价格处置。在加拿大，一半的资本收益要按照个人的边际税率纳税。这是对收入征税。

A不正确，加拿大没有遗产税，这将是一种财富税。

C不正确。增值税是在生产商品或服务的中间步骤中评估的税，最终是消费/支出税。

不理解这个解释， 可否请老师详细解释一下：

  1. concern主来源于是继承股票的capital gain。 为什么capital gain 不是value added，而是income. 题目中并没有说Bouren的income来源于stock 的 capital gain
  2. 首先可否列举一下tax targeting 有哪些，并且能不能举例说明每一个tax targeting的应用场景。


谢谢

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1 个答案

王暄_品职助教 · 2024年06月14日

资本增益（Capital Gain）与增值（Value Added）的区别

资本增益是指资产（如股票、房产等）在持有期间由于市场价值上升而带来的价值增加。在处置这些资产（如出售股票或房产）时，这个增加的价值可能会成为应纳税的收入。


增值通常指的是在生产或提供服务的过程中，产品或服务的价值增加。增值税（Value Added Tax, VAT）是基于这种价值增加而征收的税，通常在生产、流通或消费的各个环节中征收。

在Bourne的案例中，她继承的股票的市场价值高于其成本基础（几乎为零），这意味着如果她处置这些股票，她将获得资本增益。这种资本增益是由于市场价值的变化而产生的，与生产过程无关，因此不属于增值的范畴，而是被视为一种收入。


Tax Targeting

税收目标是指政府通过税收政策来针对特定经济行为或群体进行征税的策略。以下是一些常见的税收目标及其应用场景：

收入税（Income Tax）：

  • 应用场景：针对个人或企业的收入进行征税，以实现公平和效率的目标。
  • 例子：个人所得税、企业所得税等。
  • Bourne案例：Bourne继承的股票的资本增益被视为一种收入，需要按照个人处置财产的边际税率进行纳税。

财富税（Wealth Tax）：

  • 应用场景：针对个人或企业拥有的财富进行征税，以缩小贫富差距或筹集财政收入。
  • 例子：遗产税、赠与税、财产税等。
  • 注意：如解释中所述，加拿大没有遗产税，但可能有其他形式的财富税。

消费税（Consumption Tax）：

  • 应用场景：针对消费者购买的商品和服务进行征税，以增加财政收入和/或调整消费结构。
  • 例子：增值税、关税、消费税等。

资本税（Capital Tax）：

  • 应用场景：针对资本（如股票、债券、房地产等）的持有、转移或增值进行征税。
  • 例子：资本利得税、资本转移税等。
  • Bourne案例（间接相关）：Bourne的股票资本增益虽不直接为资本税，但与资本税有关的概念相似。


综上所述，Bourne的资本增益被视为收入而不是增值，因为它是由于市场价值变化而产生的，而不是生产过程中的价值增加。而税收目标是政府为实现特定经济或社会目标而采取的税收政策策略。


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