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The Guardian - AU
The Guardian - AU
National
Paul Karp and Cait Kelly

Changes to Australia’s property tax concessions could net $60bn over decade, crossbench senators say

David Pocock Crossbench Jacqui Lambie PBO Labor capital gains Anglicare Greens
Crossbench senators Jacqui Lambie and David Pocock
Crossbench senators Jacqui Lambie and David Pocock say changes to negative gearing and capital gains tax (CGT) concessions could make major savings for the federal budget. Photograph: Mike Bowers/The Guardian

Crossbench senators David Pocock and Jacqui Lambie have thrown down the gauntlet to Labor to reform property tax concessions by revealing changes that could net up to $60bn over a decade.

Changes to negative gearing and capital gains tax (CGT) concessions could make major savings for the federal budget even while allowing existing owners to continue to access a CGT discount, according to Parliamentary Budget Office modelling to be released on Tuesday.

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