I believe you both are half correct.
The capital gains concession (50% CGT reduction) applies after 1 year of ownership, otherwise if you hold less than 1 year the full gain is taxable.
The CG is added to your total income and the appropriate tax rate applies. The max you would pay is 42% if your over $180k p.a. Obviously it depends upon you taxable income and whether you have tax effective structures like trusts etc.
I believe you both are half correct. The capital gains...
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