Well, as per The Australian this morning (Sat 15/8/09) we can possibly expect to see a capital gains tax applied to all homes over the value of $2million.
Disclaimer: I dont have a house worth more than $2million - sadly.
Now, doesnt this seem like yet another Labor Party - if it is adopted - grab to make the so called 'rich' the whipping boy for the apparent poor Labor Party supporters?
I guess the one thing that really makes me quite angry about this is the comments from the 'accountants' and 'tax experts' that the Australian home is the biggest tax haven - code for rort - and so should be treated in a manner so as to collect a 'fair' share of tax.
Now, correct me if I am wrong, yet I have never brought any of the homes I have had, nor has anyone I know, purchased their home because it was an effective means of reducing their tax. They PURCHASED the home because they wanted a place to live it, and if so desired, raise a family in.
So ... what do you all think? Is this something that is fair?