|Submission No. 207||Back to full list of submissions|
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|To reform business taxation, I believe that the mooted capital gains tax exemption for
the first $1000 of CGT on share trading is so inadequate so as to render it nugatory.
Australians have flocked to major share floats like Telstra, CBA, NSW TAB, and have made
substantial capital gains. Exempting the first $1000 is insignificant - if the Government
truly is serious about making Australia a great share owning democracy, then CGT on share
trading must be exempt for the first $10,000 at the very least.
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