There is irony in the heated debate about whether increasing the capital gains tax rate to almost the highest in the world for high-growth investments and retained profits will or won’t hurt investment, innovation and entrepreneurship.The Albanese government and Treasury pushing the elimination of the 50 per cent discount and shifting to inflation indexation for virtually all assets are the same institutions that assured all would be fine if tobacco taxes were increased to among the highest in the world.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
The CGT debate can’t ignore Treasury’s tobacco tax failure
The government has inadvertently underwritten a tobacco crime wave and is now trying to plug the revenue hole by increasing taxes on capital income.
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