Vendor,
the 50%CGT discount is a crude device to discourage "speculation". When CGT first appeared, there was no discount.
It is one of the many blunt instruments the ATO has at its disposal for bludgeoning investors.
What gets me most peed off about CGT is the fact that the Tax office doesn't share my risk, but expects a share of the spoils.
sheeesh!
FDL
flinders diamonds limited
capital gain tax, page-31
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