PIPA modelling estimated that restricting negative gearing and cutting the capital gains tax discount could cost the federal budget between $19.3 billion and $58 billion over a decade in forgone capital gains tax. Board member Peter Koulizos said investors already paid more than six times as much capital gains tax as they received in negative gearing benefits over ten years, and warned rental supply would shrink.
Reported by
Thierry Ng, The Property Tribune, 21 February 2024
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