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Story summary
- Investors in Wentworth, a wealthy Sydney electorate, claimed $1.8 billion from 50% CGT discount, benefiting high-income areas.
- Australian Council of Social Services (ACOSS) argues the discount should be reduced because it worsens inequality and mainly benefits wealthier areas.
- Economists say the CGT discount is too generous and reform is needed to tax capital gains equitably.
- Experts propose lowering discount or indexing it to inflation to raise revenue while preserving fairness.
