Senator Gerard Rennick proposes retaining the capital gains tax discount on homes while removing negative gearing, fearing increased rental costs.

Liberal National Senator Gerard Rennick calls for capital gains tax discount on homes to be retained while removing negative gearing, claiming that removing negative gearing could increase rental costs. In 2017, Malcolm Turnbull and Scott Morrison briefly considered reducing the CGT discount or adopting a phased model. The CGT discount is estimated to have saved $25.2 billion in 2022-23.