Capital gains discounts were meant to usher in an Australia of ‘shareholders’ – not property speculators (opens in new tab)

Defenders of the Howard-era discount say ‘if you tax something more, you’ll get less of it’. But less investors in the housing market is a good thingFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastIf pre-budget rumours and press speculation are to be taken with less than the usual grain of salt, the budget which the treasurer, Jim Chalmers, will present on the evening of 12 May will contain some genuine, meaningful tax reform. N...