| 单词 | indexation |
| 释义 | indexation 1) The policy of connecting such economic variables as wages, taxes, social-security payments, annuities, or pensions to rises in the general price level (see inflation). This policy is often advocated by economists in the belief that it mitigates the effects of inflation. In practice, complete indexation is rarely possible, so that inflation usually leaves somebody worse off (e.g. lenders, savers) and somebody better off (borrowers). See: 2) Formerly, an adjustment to take account of the rise in the Retail Price Index over the period of ownership of an asset. Indexation was applied to the cost, or 31 March 1982 value, of an asset. The indexed cost, or indexed 31 March 1982 value, was deducted from the proceeds of sale on disposal of the asset, in order to establish the chargeable gain for capital gains tax purposes. Indexation was introduced to eliminate the part of the gain arising from inflation. This system was effectively abolished from 5 April 1998. However, for assets acquired before that date, the indexation allowance is calculated to 5 April 1998 and this figure is used to calculate the chargeable gain in any subsequent disposal. For all other disposals made after 5 April 1998 the indexation allowance is replaced by taper relief. |
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