Well it would need to be replaced by something... You can't just remove billions in revenue from the state govs.
re CGT, again, taking more tax from individuals investing to get ahead and decrease their reliance on the government is a ridiculous tax.
Perhaps it could be staggered and capped at a certain amount for your life time. i.e. zero CGT on first $250k, 75% discount up to $1m, 50% discount up to $5m then no discount. I am sure there are dozens of issues with this system but to be honest i think the 50% discount after holding an asset for 12 months is actually just fine.
