Is Capital Gains Tax reform the answer to fixing the housing divide? | The Business | ABC NEWS
Months out from the May budget and the government hasn’t ruled out announcing cuts to the Capital Gains Tax Discount. Labor wants to address the housing crisis and has a Senate Committee looking into the 50 per cent discount that’s currently in place. ABC’s Chief Business Correspondent Ian Verrender says the Treasurer could be looking at how you reduce intergenerational problems with housing without upsetting investment markets as well. The tax break doesn’t just apply to housing, but other assets like shares, held for more than 12 months. Ian Verrender says if implemented, there would likely be higher tax on everything from shares, to stocks, bonds and businesses.
“It would have a real impact on superannuation as well,” he says.
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