Explore the latest developments concerning CGT changes could.
CGT changes could be confined to housing investors, minister hints
The Albanese government has hinted that any scaling back of the capital gains deduction for investors may be confined to housing, and it was unlikely changes would be applied retrospectively to existing asset owners.
As Treasury officials all but confirmed the department had prepared options ahead of the May budget, a government source familiar with deliberations, who asked to speak anonymously, stressed that although no decision had been made, there was not a “sufficient risk appetite” in cabinet to apply any change retrospectively.
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How far house prices would fall if the capital gains tax discount changed
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House prices would fall only about 1 per cent if the capital gains tax discount were reduced or removed, experts said.
This masthead revealed last week that a reduction in the capital gains tax discount, which grants a 50 per cent concession on tax for assets held for at least 12 months, is likely to be a centrepiece of Treasurer Jim Chalmers’ budget in May.
But while advocates for reducing the concession have argued that reform could increase homeownership and reduce inequality, they agree with opponents that it wouldn’t significantly bring down house prices.
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