27 years ago, our country made a mistake.

本站添加: 2026-06-07

[00:00:00]If you want to know why housing in our country is so damned expensive, then you need to understand this. 25 years ago, John Howard and Peter Costello made a huge mistake. They introduced a big new tax break, the capital gains tax discount.

[00:00:15]>> Great for shareholders, great for economic investment.

[00:00:19]>> Australians flooded into the property market with 80% buying up existing housing rather than new. And the share of Australians [music] investing in our share market, it dropped dramatically.

[00:00:29]>> That's why government's reforming the capital gains tax, not getting rid of it, but changing the way it's calculated so we don't see distortions like this again. Our changes will make a fairer housing market for Australians and get a heap more Aussies into home ownership.

[00:00:43]You'll still be able to get access to these super generous tax concessions, but we want you to do it by building a new home for the country. It's worth remembering that the current system that you pay for with your tax dollars isn't working for Australia right now. It's making housing too expensive, it's locking out young Australians from our housing market, and it's sucking investment out of shares, startups, and entrepreneurship. Things we know will help grow wealth and jobs for all Australians.