I am delving back into my memory here somewhat and I stand to be corrected if I have this wrong but I recall about 30 years ago Japan had about a 90% capital gains tax on property and the effect of this was that it was pointless selling any property for a profit and as such people didn't and so stock was in short supply and it forced prices to balloon.
Any change would have to be Grandfathered so as to be fair to those who have invested under the existing rules.
I think Labor our making enemies of the middle class in Australia
