Angus Taylor says the Government’s proposed changes to capital gains tax represents an all-out assault on aspiration, warning ordinary Australians may soon be forced to settle for owning only the house they actually live in.
Taylor said the simple Australian dream of having a piece of land that you can use as a tax write-off while the mortgage is paid by another Australian had been killed.
“For generations, Australians have dreamed of one day leveraging equity from their first home to outbid a 26-year-old school teacher at auction. Now Labor wants to take that away,” he said.
“In my day, you bought a modest starter home at the age of 23 for the price of a Corolla, then slowly built wealth until you could emotionally detach from the suffering of tenants entirely. Well, you can say goodbye to that”.
