Tinkering with the capital gains tax discount isn’t enough. Here’s why it needs to go
- Written by Chris Evans, Emeritus Professor, School of Accounting, Auditing and Taxation, UNSW Sydney
Troy Mortier/UnsplashIt looks increasingly likely Treasurer Jim Chalmers will make changes to the capital gains tax (CGT) discount in the federal budget in May.
Under the current system, a person who has held an asset for at least 12 months receives a 50% reduction in the capital gains tax bill they would otherwise pay when they sell the asset,...
