Forget negative gearing,an opportunity is being missed in reducing the capital gains tax discount, which would be good policy and contain limited political painIn politics, or as in life,easy wins are hard to arrive by. Which is why it comes as a surprise when a government in desperate search for ways to repair its budget, takes off the table a degree that could raise substantial revenue – $3.7bn a year – with minimal political pain. Reducing the capital gains tax discount would be both good policy and good politics. But on Sunday the government announced it would not be making changes to capital gains tax on property or negative gearing in the May budget. Continue reading...
Source: theguardian.com