Capital gains tax changes spark property debate

The Australian Treasurer Jim Chalmers has not ruled out potential changes to capital gains tax, which currently offers a 50% discount on profits from assets held over a year. The proposed changes could reduce this discount, sparking debate between property industry representatives who warn of impacts on mum-and-dad investors and rental supply, and Greens Senator Nick McKim who argues the current system unfairly benefits wealthy property speculators at a cost of $22 billion annually to the Commonwealth budget. Both sides acknowledge Australia's housing supply shortage remains the fundamental issue driving affordability challenges.

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