Australia Treasurer Defends Contentious Investment Tax Changes

Australia’s Treasurer Jim Chalmers has defended the proposed tax changes in the government’s recently announced budget, arguing that they increase fairness for investors and will still tax capital gains at rates lower than other overseas markets.

The changes announced last week are about balancing the tax treatment of different types of income and reducing distortions in the housing market, Chalmers said at an event at Bloomberg’s Sydney office Tuesday. It was also about more accurately compensating investors for inflation and encouraging investment in assets like medium-term housing, he said.