Capital gains tax discount to cost Australia $250bn over next decade with retirees and high-income earners to benefit most

Parliamentary Budget Office figures show top 1% of taxpayers will receive nearly 60% of the benefit this financial year

• Follow our Australia news live blog for latest updates

• Get our breaking news email, free app or daily news podcast

Australia’s capital gains tax discount will cost nearly $250bn over the next decade, more than twice as much as the concession has cost in its entire 25-year history.

Source: Guardian - World News