Our policies haven’t changed’: Heated TV exchange as Richard Marles grilled on capital gains tax concession changes - Voice of Africa Broadcast & Media Production
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‘Our policies haven’t changed’: Heated TV exchange as Richard Marles grilled on capital gains tax concession changes

Deputy Prime Minister Richard Marles has knocked back questions about a possible major tax change during a heated on-air clash over Labor’s housing policy.

Deputy Prime Minister Richard Marles refused to be drawn on speculation about capital gains tax changes during a heated back-and-forth with Sky News host Pete Stefanovic.

Changes to the capital gains tax discount remain on the table as the government faces a deeper budget black hole.

The cut in the CGT discount could form a core part of Treasurer Jim Chalmers’ May budget, according to the Sydney Morning Herald.

However, it would come alongside other tax measures targeting home ownership for younger Australians.

When pressed repeatedly during a tense Sky News interview on Thursday, Mr Marles refused to confirm or deny speculation about changes to housing tax settings ahead of the May budget.

The Deputy Prime Minister Richard Marles declined to rule out future policy changes beyond repeating that the government’s current framework was intact. Picture: NewsWire / Martin Ollman

He insisted the government’s position remained unchanged and focused on boosting housing supply rather than altering tax settings.

“Our housing policies are really clear. The tax arrangements around our housing policies are clear, and they haven’t changed. And it’s as simple as that,” he said.

The Deputy Prime Minister declined to rule out future policy changes beyond repeating that the government’s current framework was intact.

As Stefanovic continued to press on whether any adjustments to the capital gains tax discount were on the table, Mr Marles stuck closely to his prepared message.

“Our housing policies haven’t changed,” he said.

“We acknowledge that there are intergenerational issues in respect of housing.”

He argued the government’s strategy centred on increasing the number of homes built nationwide rather than reshaping the tax system.

“The way in which we are dealing with that is on the supply side, making sure that we are having more houses built around the country,” he said.

“Now, that’s been our strategy for a number of years. That continues to be the strategy.”

The 50 per cent CGT discount, introduced in 1999, allows investors to halve the taxable portion of any capital gain on assets held for at least 12 months.

Labor went to the 2016 and 2019 elections promising to pare back the capital gains discount to 25 per cent.

Stefanovic pushed further, pointing out capital gains tax applies to assets beyond property and asked whether broader tax reforms were under consideration.

Mr Marles declined to go beyond his earlier responses.

“Our position in relation to housing policy is clear and we are not changing the tax arrangements around housing,” he said.