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

capital gains tax was indexed for inflation. As I said earlier, that had the consequence that the after-inflation gain was taxed at your marginal rate. So, if you are on the 49 per cent rate for the purpose of that year, your tax on the real gain would be 49 per cent. Consider that you have owned an asset for 10 years and it has grown at seven per cent—every year for 10 years. That is a phenomenal return. There are not many investments that have done that. That is more or less what we have seen in residential real estate over the last decade. Under Labor's plan—Labor circa 2016—the tax on the real gain would be 52 per cent. It would be higher than Keating's—

Mr Watts interjecting—

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