Peter Costello attributes the existing 50 per cent CGT discount to the Ralph Review of Business Taxation (RBT) in 1999.“I supported that recommendation. As did Labor. That’s right, Labor supported the 50 per cent discount method. It would not have gone through the Senate had Labor opposed it,” he told Australian Financial Review readers on Monday.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Costello’s version of the CGT deal is only half the story. I know, I was there.
Jim Chalmers has a big job in getting the trust measures right. Any advice Peter Costello offers should be taken in light of his own record on that issue.
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