Parliamentary Budget Office figures show top 1% of taxpayers will receive nearly 60% of the benefit this financial year
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Australia’s capital gains tax discount will cost nearly $250bn over the next decade, more than twice as much as the concession has cost in its entire 25-year history.
As the federal government considers scaling back the 50% discount to help first home buyers, new figures from the Parliamentary Budget Office show the discount has cost the budget $205bn in lost revenue since its introduction in 1999.