Govt unlikely to introduce capital gains tax - reports

Drive 10/09/2018

Sir Michael Cullen’s tax working group is understood to have stopped short of recommending a broad-based capital gains tax.

The working group was tasked with creating a capital gains tax to be considered by the Government and it’s due to release an interim report within days.

However it’s expected the group will push back on any firm recommendations to the tax in its final report to be published in February.

"I don't think they [tax working group] are going to say no, we don't want that, I think they're going to say we think this is plausible if designed properly but we need to go back to the market and talk about what some of the features and design features of it would be," Paul Drum, Head of Policy, CPA Australia told RadioLIVE.

A capital gains tax was introduced in Australia over three decades ago and house prices have roared out of control since.

Listen to the full interview with Paul Drum above.

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