Top 1% captures over half of Australia's capital gains tax benefits

The top 1% of Australian income earners received more than half the benefit of capital gains tax concessions in 2022-23, new budget data shows. The wealthiest 10% captured 83% of CGT benefits and 37% of negative gearing advantages. These tax breaks, unchanged since 1999, disproportionately favor high earners and fuel housing speculation concerns.

Summary by Glance · The Guardian Australia