Business demands 50% CGT discount wind back

Thursday 6 August 2015

The Business Council of Australia (BCA) has hit the radio waves this morning urging the Government to unwind the 50% capital gains tax (CGT) discount implemented by former Treasurer, Peter Costello, in 1999. From ABC Radio:

In its submission to the Government’s tax review, the BCA says the discount on capital gains can distort investor behaviour, particularly during housing booms…

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.