Hi Ziyou,
A couple of points.
Calculation of CGT using the cpi was not particularly onerous, and provided a fair outcome, in that taxation was on "real" profit.
The 50% discount has caused a gross distortion of investment markets, favouring asset speculation over income generation.
I would agree that Labor has a bad habit of spending its chickens before they hatch with taxation.
Usually because they refuse to factor in changes in investment behaviour caused by these sorts of measures.
But, that doesn't mean that the measures still doesn't have merit.
If it only shifts investment away from speculation, towards productive activity, that in itself will eventually pay off to our society.
