Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

I thank the honourable member for his question. I refer him to the answers I gave yesterday, to which he responded with a further question, about the impact of halving the capital gains tax discount for individuals.

As we know, that would mean that an individual who was paying capital gains tax at the top marginal rate—and that may not be someone who is habitually in the top marginal rate, but because the gain is large enough to push them there for the purpose of the gain they may very well be paying it even though their normal income is lower than that—would have that tax rate pushed up to 37 per cent.

Now, I ask the honourable member to reflect on this: the increase in property prices—

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