Chalmers tipped to target capital gains tax
Treasurer Jim Chalmers is expected to focus on changes to capital gains tax as part of the government’s plan to improve the tax system. One likely move is reducing the current discount offered on profits made from selling investment properties held for more than a year. This change may affect small investors the most, especially those in the housing market. Many people have recently sold properties at a loss, which has raised concern. While some areas may see updates, the government has made it clear that the family home and inheritance tax rules will stay the same for now.
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