Australia's housing prices surge as capital gains tax concession costs $19 billion

Australia’s median house prices in Sydney and Melbourne have surged 575 percent and 450 percent respectively since the capital gains tax (CGT) concession was introduced in 1999. The federal Treasury expects the CGT concession to cost $19 billion this year, disproportionately benefiting the top 10 percent of income earners while exacerbating the housing crisis.

Summary by Glance · Brisbane Times