Labor/Greens attack property owners, page-57

I agree that the capital gains tax should be progressive:\
to keep house flippers out of the market.

If they want to make a business out of house flipping
(buy-repaint/clean up granny's house and sell it two
years later with a 50% concession on CG.) then that's a business
albeit part time.

IMO a fairer system would be a 10% reduction on CGT
after one year of ownership peaking at 50% after 6 years
ownership.

And IMO, the purchase of a property exclusively for rental
should be treated like any other business venture as
a stand alone project

At present both CGT & Negative Gearing is designed
to benefit high wage earners as a n income tax minimisation
strategy.

The idea of property CGT concession & Negative Gearing
was implemented when Government wanted to get out of
social housing.

Now that Government is back into Social Housing
its time to scrap both tax concessions and apply
the extra tax received to Social & Affordable Housing.

Its silly & unaffordable to have both systems, IMO.