Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Hansard source

In a quote from the Ralph review of 1999, which was commissioned by the then coalition government, they said this, which is why it was changed:

Australia's averaging provisions … are used by a section of the asset-holding community to reduce capital gains tax to zero, or near to zero, while others who are not in a position to engineer the same benefit carry the burden of taxation at close to their full marginal rate. This results in considerable inequity.

John Howard got rid of it. It's not the only way in which the current coalition have moved even further right than John Howard, because he didn't give One Nation preferences either.

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