Australia’s capital gains tax discount will cost nearly $250bn over the next decade, more than twice as much as the concession has cost in its entire 25-year history. As the federal government considers scaling back the 50% discount to help first homebuyers, new figures from the Parliamentary Budget Office show the discount has cost the budget $205bn in lost revenue since its introduction in 1999. But Australia’s soaring property prices and other investor demand will push the total price tag to $247bn over the next 10 years. Commissioned by the Greens as part of a pressure campaign on Labor to
Thursday briefing: Will the Epstein files threaten Peter Mandelsons legacy?
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