Prior to the passage of the government’s contentious tax legislation last week, the treasurer was asked in question time on Monday, June 22 if he could name a country that has a higher real capital gains tax than Australia.
In his response, Jim Chalmers chided the opposition leader for being “disingenuous” for comparing real and nominal tax rates, which was not implicit in the question being asked. But he then engaged in his own bit of sophistry by comparing a highly stylised Treasury nominal CGT estimate for Australia to that of other countries.
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