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17 Aug 09 Treasurer says CGT on family homes story "factually incorrect"

In a media release issued on 15 August 2009, the Treasurer, Wayne Swan said that the "story published on the front page of today’s Weekend Australian in relation to capital gains tax on family homes is factually incorrect".

The Weekend Australian story read, in part, as follows: "The Rudd government is considering slapping a wealth tax on the country's most expensive family homes as part of a wide-ranging and radical review of the tax system chaired by Treasury secretary Ken Henry. The government has asked Treasury to model various capital gains tax scenarios on family homes valued at $2million or more, including making interest payments on mortgages a deductible expense."

Mr Swan said: "There has been no request from the Government to the Australia’s Future Tax System review to model such proposals, we are advised that no such modelling is being carried out by the review, and therefore no recommendation of this sort will be made to us by the panel. The Government is not considering and will not consider the policy outlined in that article today."

For a copy of the Treasurer's media release, No 2009/91, 15 August 2009, go here

 


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