But 1% is on the total held, not on the capital gains, right?
If that's the case, it affects earnings quite a bit. Say your investments beat inflation by 3 percentage points, you're effectively down to 2 percentage points after tax, so a 33% reduction in income.
If that's the case, it affects earnings quite a bit. Say your investments beat inflation by 3 percentage points, you're effectively down to 2 percentage points after tax, so a 33% reduction in income.