‘I don’t know why we didn’t see this coming’: Labor MPs grow anxious over CGT reforms
Party figures are concerned a ‘good story’ on housing is being drowned out by the capital gains tax furore, as opposition leader Angus Taylor goes on the offensive.
More than a week since the Albanese government delivered its fifth budget, anger over changes to capital gains tax continues to dominate, sparking concerns among Labor MPs that the political benefit from the party’s ambitious housing reforms is being squandered.
“It’s a good budget,” one MP who requested anonymity to speak freely told Capital Brief. “But I don’t know why we didn’t see this coming.
“We’ve got a good story to tell about housing. But the tax changes are drowning out our messages.”
Startup and VC operators have loudly complained about the changes, which remove the 50% discount on CGT and introduce a 30% floor. They argue the reforms disincentivise investment and risk-taking and make it harder for businesses to offer their employees equity in lieu of market level wages.
