Capital Gains Tax again under the spotlight following latest rate rise

Following the latest interest rate rise, the Federal Government is facing renewed pressure from unions and economists to reform the 50 per cent Capital Gains Tax ((CGT)) discount, which critics label a "tax avoidance scheme" favouring the wealthiest Australians. While the Treasurer maintains a focus on housing supply, proponents of the reform argue that winding back these concessions could reclaim $20 billion in annual revenue and ease the cost-of-living crisis for the nation’s workforce.