Australian Treasurer Walk Backs Comments Following PM Intervention
Australian Treasurer Jim Chalmers has admitted that he should have promised Australians that Labor had no plans to change or touch the Capital Gains Tax (CGT) exemption on the family home.
The CGT is the tax paid when Australians sell their investments, such as stocks, bonds, or real estate. Homeowners in Australia, however, are exempted from paying CGT if they are selling their own residences.
In an intense interview with Sevens’s Sunrise host David Koch on Wednesday, Chalmers was pressed several times on whether he could be trusted to not ever make a change to the Capital Gains Tax (CGT) exemption. …