Kudos to Allegra Spender for her leading work on tax reform in Australia. There is room for debate about how to tax capital gains. However, she is wrong to call for a halt to the CGT reform proposed by Albanese-Chalmers in the budget.Share gains are not related to CGT | Between 1984 and 1987, the Australian All Ordinaries share index more than doubled. During this period – September 19, 1985, to be exact – the Hawke-Keating government introduced CGT, based on indexation of the cost base to inflation, while taxing gains progressively at marginal rates.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Allegra Spender should back, not block CGT reform
The government – aka, the rest of us taxpayers – are always a silent partner in business investment. That is not a bad thing!
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