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Greens to phase out capital gains discount by 2020

The Greens will phase out the 50 per cent capital gains tax discount to ease pressure on Australia’s unaffordable housing market, generating savings of $119.5 billion over ten years.

The concession would be reduced by 10 per cent every year for five years and would run parallel with the Greens plan to phase out negative gearing.

Greens Co-Deputy Leader and Housing spokesperson Senator for WA Scott Ludlam said the fully costed plan would apply to all forms of capital gains including housing, art and investments.

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Perth Freight Link hiatus of confusion

Scott Ludlam 23 Mar 2016

The Barnett Government's wasted fascination on the Perth Freight Link is causing a 'hiatus of confusion' costing the Kwinana region up to $42 billion in investment and the potential for 37,000 jobs, Greens Senator Scott Ludlam heard in a Senate inquiry today.

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So which tax scare campaign is it?

Scott Ludlam 29 Feb 2016

Today the Australian Senate called on the government to clarify which of their contradictory scare campaigns they plan on proceeding with.

"Assistant Treasurer Kelly O'Dwyer stated that reforming negative gearing would push house prices up, contradicting statements from Prime Minister Malcolm Turnbull that such reforms would push house prices down, so some certainty about which scare campaign they're going to stick with is all we're after," Australian Greens housing Spokesperson Senator Scott Ludlam said today.

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Greens National Council Resolution to Tackle Negative Gearing and Housing Affordability

Scott Ludlam 20 Feb 2016

The Australian Greens have committed to phasing out negative gearing and capital gains tax discounts at their National Council Meeting today.

"It's long overdue that the abolition of these subsidies for the wealthy are part of a national debate on taxation," Australian Greens Housing Spokesperson Senator Scott Ludlam said today.

"For too long both Labor and Liberal parties tried to silence any discussion about reforming negative gearing and capital gains tax, so that it's on the table at all is welcome progress.

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Negative Gearing in WA - the facts

Scott Ludlam 18 Feb 2016

Wealthy WA investors use negative gearing more, and gain more of the benefits, than any other state in Australia. These benefits flow to the rich in WA even more than they do in other parts of the country.

This has contributed to an overheated, unaffordable housing market here in WA. First home buyers are priced out of the market altogether, or forced to buy in the outer reaches of Perth's urban sprawl.

WA investors use negative gearing more than the national average:

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