National housing campaign Everybody’s Home is encouraged by reports the Albanese Government is leaning towards scrapping the capital gains tax discount on property and returning to the pre-1999 system.
Media reports today suggest Treasurer Jim Chalmers is considering returning to the original way of taxing capital gains on homes instead of reducing the current 50 per cent discount on capital gains.
Everybody’s Home spokesperson Maiy Azize said the move would be a turning point for housing affordability and fairness.
“Scrapping the CGT discount would be one of the most positive steps any government has taken on housing in a generation,” Ms Azize said.
“We are really encouraged by media reports that the federal government is looking to end the CGT discount and return to a much fairer system.
“The CGT discount and negative gearing are fuelling the housing crisis. Billions of taxpayer dollars line the pockets of property investors every year while first home buyers are locked out and renters are stretched to breaking point.





