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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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Greens release costings for capital gains tax reform

The Australian Greens have today released Parliamentary Budget Office costings that show removing structural unfairness in the tax system through the discount on Capital Gains Tax (CGT) could generate as much as $74 billion over the next ten years, rising to $127 billion when negative gearing reforms that have warped the housing market are taken into account.

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PM must end budget secrecy

Scott Ludlam 11 Mar 2014

The Australian Greens say Tony Abbott must come clean about his cruel cuts before voters go to the polls in elections around the country.

"How can we trust a Prime Minister who deliberately withholds information before an election?" asked Australian Greens Leader Christine Milne.

"Tony Abbott is deliberately hiding his true agenda for cruel cuts. He is being mean, tricky and secretive.

"It's completely obvious the PM is holding out until after the upcoming elections in an attempt to pull the wool over voters' eyes.

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Housing crisis: Greens name the elephant in the budget

"The Government's failure to acknowledge the national housing crisis shows the Labor party has turned its back on millions of Australians struggling with unaffordable housing," Australian Greens housing spokesperson Senator Scott Ludlam said today.

"This Budget has no new programmes for improving housing affordability. No new money to tackle homelessness. No boost in public housing. No plans for more affordable rentals or more affordable ownership. No mention of the word housing in the Budget speech. Labor and the Coalition are pretending this crisis doesn't exist.

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WA in the Budget - good, bad, and pretty ugly

The Federal Budget is a mixed bag for Western Australia, Greens Senator for WA Scott Ludlam said tonight.

Senator Ludlam, who has championed light rail for Perth since 2007, welcomed tonight's announcement that the Federal Government would provide $500 million in funding for public transport in Western Australia over the next decade.

"Many people have campaigned for years for a serious funding commitment to light rail in Perth. Half a billion dollars from the Commonwealth for light rail or the airport link is a big win for Western Australia."

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