In the three weeks since the federal budget, the policy case for the Albanese government’s complex changes to investment tax breaks has been picked apart. Tax specialists, investment experts and economic commentators have exposed the flaws and unintended consequences of Labor’s last-minute move to replace the 50 per cent capital gains tax discount with an inflation indexation model that would apply to all asset classes.Leaving aside the government’s woeful sales job that lacks a cut-through message, Labor failed at the outset to run a proper tax reform process that might have addressed the problems with its plan to revert to taxing real, non-inflationary capital gains.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Labor’s budget accelerates aspirational Australia’s One Nation revolt
Our poll suggests the political disruption signalled by One Nation’s rise has spread in response to the budget’s tax changes.
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