Senate debates Questions without Notice

Taxation


Penny Wong

Penny Wong SA, Australian Labor Party, Minister for Foreign Affairs

2:00 pm

As the senator would know, we have replaced the 50 per cent capital gains tax discount with a new discount based on inflation for gains accruing from 1 July in 2027. Obviously that arrangement was clear in the budget papers. I have to say that I don't mind that people are interested in vintage cars, but I have to say that I'm not somebody who does collect vintage cars, but—

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