Spender Proposes Tax Reform: 30% Capital Gains Discount

0:00I'm Corey, and this is your Pulse of the City, Sydney News Today. Residents and Allegra Spenders went worth electorate, saved $1.8 billion in taxes last year, thanks to the 50% capital gains. Tax Discount. That's the highest amount nationwide, according to new analysis from the Australian Council of Social Service. Spender, the independent MP for the area, wants to cut that discount to 30% as part of a larger tax reform push. Here this week, she unveiled her full proposal at the National Press Club. It targets future gains on investments like property and shares. Meanwhile, other electorates held by teal independence rank high on the list, with KuYong's second at $1 billion saved. Spender acknowledges not everyone in her wealthy but diverse seat will cheer the idea. About 40% rent and 60% live in apartments, including many young families. She is hired from some big winners who support paying more for better fairness across generations.

1:01Her plan would also limit negative gearing and tweak investment taxes, raising $29 billion to fund income tax cuts for every day. Workers. That keeps the overall package revenue neutral, with cuts like dropping the lowest rate to 13%, and trimming others by 2.5. Points. The federal government is eyeing capital gains tax tweaks for the May budget, but is not decided yet. Advocacy groups push for using savings on social housing and welfare, while business leaders bag neutral reforms to rebalance the system without. Growing government revenue. This episode is brought to you by our sponsor. See the episode description. Headphones in a pillow. Once you try it, it just makes sense. S-O-L-I-SOLYPILLOW.COM