| 1 | Dividend income or capital gains income in the stock market is taxed differently. | |
| 2 | Long booms tended to result in excessive risk-taking and "Ponzi finance", where investors buy assets with borrowed money in the hope of quick capital gains. | |
| 3 | Even stocks that have fallen may still show gains since the date of purchase, so people who sold during this year's market declines may still face capital-gains tax. |