Deputy speaker, it is definitely true to say that tax reform has recently become a topic at many water coolers.  

And that is because, it is the converging point of a number of national crises:  

• the housing crisis – one cause of which is that the tax system preferences property investors over first home buyers 

• growing intergenerational inequality – a big contributor to which is the fact that we disproportionately tax earnings from income, not wealth; and 

• an energy supply crisis, which could be alleviated by phasing out subsidies for certain vehicles use of petrol, diesel and av gas, which prolong our addiction to expensive, unreliable and dirty fossil fuels. 

For these reasons and more – tax reform is a debate this country has to have.  

And so I went out to community, keen to hear their thoughts.  

I launched a survey to gauge peoples’ thoughts on the capital gains tax discount – the rule that gives people who generate income from assets like investment properties a 50% deduction on the tax payable on that income.  

To be clear – this was an online survey, not a poll. It had a large number of respondents – 1237 – but it is not statistically. Its purpose is to obtain a preliminary sense of community sentiment on what is a major policy area in need of reform.  

Interestingly, 86% of survey respondents were over 45 years of age; 60% were over 60 years of age. And the majority of them owned their own homes.  

And importantly, nearly 30% of respondents owned at least one investment property.  

That is relevant because that group – investment property owners – is the group least likely to benefit by a reduction in the CGT discount.  

And so the survey results may surprise you.  

Two thirds of survey respondents were comfortable with the proposal that the CGT discount be reduced from 50 to 33%. A further 11% were open to considering it.  

22% were uncomfortable or opposed to changes. 

Of those who owned investment properties, half were comfortable with that change, and a further 15% were open to considering it.  

In deciding whether to support CGT reform, the factor which most influenced respondents was whether the change would be one of a part of a broader effort to modernise our tax system. 56% of people responded that way.  

I am heartened by all of this. By the number and nature of responses to my survey, by the support being shown for sensible proposals for reform that aim to make secure housing more available and affordable for the next generation, and by the fact that people are open to change that might be contrary to their own interests.  

I take it all to mean that there is significant support in my electorate of Bradfield for big, bold ideas that might make our tax system better and fairer.  

Let’s keep the conversation alive.