The exemption of capital gains tax on the primary residence and from the pension assets test does cause huge distortions. by creating incentives to overinvest in such type of asset at the expense of remaining ones, a situation aggravated by the need for our banks to "access large and deep foreign funding markets to supplement their domestic funding." at the tune of 1/3 of their funding needs.
The Nature of Australian Banks' Offshore Funding | Bulletin – December 2019 | RBA
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