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Oxfam: Capital Gains Tax Break Favors 24K Wealthy

Published 2 weeks, 2 days ago
Description

New analysis from Oxfam Australia reveals that capital gains tax discounts, benefiting twenty-four thousand wealthy Australians, cost the government twenty-two billion dollars annually. The policy is criticized for favoring investors over owner-occupiers and exacerbating housing shortages and wealth gaps. As the federal budget approaches, Treasurer Jim Chalmers considers tax reform options, including capital gains discounts, to address housing issues for younger Australians.

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