Minister says any potential changes to capital gains tax discount plans will be minimal

Tim Ayres, the minister of industry and innovation, was asked on RN about changes to the capital gains tax discount after the prime minister warned any potential changes to the plan would be minimal. Critics have urged the Albanese government to alter the plan, arguing small business would be negatively affected.

Ayres said the treasurer, Jim Chalmers, had been firm that the plans would only see minimal changes once they were announced, adding:

The challenge in a lot of the problem for our political opponents is they’ve lost sight of the people who are the subject of these changes. They’re all about the politics of what’s going on. People who will substantially benefit from this are young Australians who have had the property market tilted against them and are finding it very hard to get their first, you know, to get on that first rung of the property ladder …

We’re legislating to deliver the package that was outlined in the budget to give those young Australians security.

Ayres said many in the housing industry with a “vested interest” in any changes are actively campaigning to see them reversed.