Keating excoriated “howls” from wealthy business people who had “feasted” on lightly taxed capital gains for 25 years and now opposed the return to the inflation indexation of capital gains that he set up as treasurer in 1985.
…“The simple fact is that income is taxed too heavily while capital is taxed too lightly,” Keating said in a statement, echoing Treasurer Jim Chalmers’ rationale for overhauling the CGT discount.
