Limiting capital gains tax changes to new investments would ‘severely delay’ budget reforms, Deloitte says

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Treasurer Jim Chalmers has proposed 'transitional' changes to capital gains tax (CGT) as part of efforts to address a 'structurally flawed' budget. Deloitte warns that limiting CGT reforms to new investments would significantly delay necessary budget reforms and economic improvement. The consulting firm estimates that such a policy could only generate $500 million over four years if existing investments are exempted from changes, a practice referred to as 'grandfathering.'