Paul Keating urges Labor to stick with capital gains tax overhaul and avoid exemptions that would hurt economy
Paul Keating has called on the Labor government to maintain its proposed changes to the capital gains tax, emphasizing the need for balance in taxation between capital and labor. He warned that exempting commercial assets from these changes could distort the economy further. The proposed legislation is facing opposition from small businesses and investors who fear it may hinder investment and risk-taking.
- ▪Paul Keating urges Labor to avoid exemptions in the capital gains tax overhaul.
- ▪He believes that the current tax settings have negatively impacted the productive economy since 1999.
- ▪The proposed changes include replacing the 50% capital gains tax discount with cost-base indexation.
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Paul Keating says correcting the balance in taxation between capital and labour should ‘be and remain the over-riding objective of policy, of the new policy.’ Photograph: Bianca de Marchi/AAPView image in fullscreenPaul Keating says correcting the balance in taxation between capital and labour should ‘be and remain the over-riding objective of policy, of the new policy.’ Photograph: Bianca de Marchi/AAPPaul KeatingPaul Keating urges Labor to stick with capital gains tax overhaul and avoid exemptions that would hurt economyExclusive: former PM says the changes to tax rates are ‘so marginal that no entrepreneurial initiative is likely to be thwarted’Tom McIlroy Political editorTue 26 May 2026 21.40 EDTLast modified on Tue 26 May 2026 21.41 EDTSharePrefer the Guardian on GooglePaul Keating…
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