The prime minister has ruled out going after people’s homes after Jim Chalmers left the door open, saying “it’s a bad idea”.
Anthony Albanese has ruled out removing the capital gains tax exemption on the family home, as the government scrambled to contain the fallout from its decision toAfter Treasurer Jim Chalmers declined repeatedly on breakfast television to categorically rule out targeting the CGT exemption, the Prime Minister moved to clarify.Alex Ellinghausen.“Because it’s a bad idea.
The $3 million cap will not be indexed, meaning more and more people will be pushed into the higher tax rate over time. The government promised before the election not to touch super and stands accused of breaking that promise.Mr Albanese said that was not the case because the tax rate would not kick in until July 1, 2025, which was after the next election.
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