Analysis of Australian tax data shows that the top 1% of income earners receive more than half the benefits of capital gains tax concessions, suggesting the policy disproportionately favors the wealthy.

Sydney Morning Herald

The Guardian

More than half of the benefit of the CGT concession went to the top 1% of income earners, the most recent data shows

Want to get more charts in your inbox every fortnight? Sign up for The Crunch here

This year’s federal budget includes changes to negative gearing and capital gains (CGT) and discretionary trust tax concessions – policies that some blame for fuelling housing speculation and that disproportionately benefit the richest.
The top 1% of lifetime earners alone have received more than 