Original article by Michael Bleby
The Australian Financial Review – Page: 5 : 13-Jul-16

The Australian Labor Party estimated that the capital gains tax break on property sales will cost $A8.6bn in lost government revenue by 2019, compared with $A4.2bn in 2014. Senator Nick Xenophon believes that the Federal Government should introduce CGT reforms as part of its strategy to reduce the Budget deficit. The Property Council of Australia supports reducing the CGT concession from 50 per cent at present to 40 per cent, compared with Labor’s proposal to reduce it to 25 per cent.

CORPORATES
AUSTRALIAN LABOR PARTY, NICK XENOPHON TEAM, PROPERTY COUNCIL OF AUSTRALIA LIMITED, GRATTAN INSTITUTE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, STANDARD AND POOR’S CORPORATION, HSBC AUSTRALIA HOLDINGS PTY LTD