There is growing momentum that the insanely generous capital gains tax discount needs to change.
Recent Parliamentary Budget Office figures show that more than 80% of the discount goes to the top 10% of income earners and if that was not bad enough almost 60% goes to the top 1% (those who earn more than $362,900).
That’s $13 billion a year going just to the top one percenters...
The Government needs to answer... Who should pay more tax on their extra income, those on the lowest wages, or those with the most? It’s over to you Prime Minister.
