Capital gains tax concessions slammed as unfair and cruel to younger generations
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A Senate inquiry into housing affordability has heard urgent calls for tax reform, with advocates warning that current capital gains concessions favour wealthy investors while locking the younger generation out of the property market. The Australian Council of Trade Unions argues that reducing these tax breaks could boost home ownership by four per cent. The Grattan Institute maintains the primary benefit would be a $6.5 billion budget windfall to fund public housing and support struggling renters.
