‘Preposterous proposal’: Labor intends to tax unrealised gains on assets
Former Victorian Liberal Party president Michael Kroger says Labor’s intent to tax unrealised gains is a “preposterous proposal”.
“This is an outrageous proposition as you were mentioning before, just say a house is worth $800,000, two years later it’s assessed at being worth at $1,000,000, it’s gone up – well the tax office is going to send you a bill for a percentage of the $200,000, 30 or 40 per cent of the $200,000,” Mr Kroger said.
“This is a preposterous proposal, basically put into the parliament by people who have never run a business, never invested money, have no idea really how the financial system works in the financial sector.
“Once you get into the super sector, Peta, the question is then, oh well, perhaps we can lick it out into the share market, the residential properties.”
