Former RBA governor Bernie Fraser just told a Senate hearing the 50% capital gains tax discount is a rort that should be scrapped entirely. He called out the 'toxic' cartel of existing homeowners, property developers, and vote-chasing politicians who love skyrocketing house prices because it pads their pockets and wins elections. Meanwhile young Aussies are priced out forever.
Time to tax unearned wealth properly and make housing a home, not a casino. Abolish the CGT discount – one small step to fix the generational theft.
