Labor introduces legislation for its controversial CGT reforms
The federal government will introduce legislation for its controversial tax reforms, including changes to capital gains tax, despite mounting criticism from business groups.
Labor will proceed with controversial tax changes impacting businesses and property investors as it prepares to introduce an overall framework for reform.
Treasurer Jim Chalmers will introduce a bill to parliament on Thursday that will include increases to investor tax rates alongside a $250 a year tax rebate for workers and a $1,000 standard tax deduction.
Dr Chalmers has said the changes will help young people who have been locked out of the housing market by a system that taxes income earned from labour at a higher rate than income derived from investments.
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