Investor incentives should be increased, not cut, a senior Liberal says, as Labor moves to rush its once-in-a-generation tax overhaul through parliament.
Business leaders have warned the measures, laid out in the federal budget earlier in May, will lead to talent and funding moving offshore as the existing 50 per cent capital gains discount is axed in favour of a minimum 30 per cent tax rate.
The Albanese government is expected to introduce legislation to federal parliament within a fortnight that would end the discount and negative gearing for investors buying existing properties.
Opposition housing spokesman Andrew Bragg said he would increase the discount rather than remove it to get money flowing where it was needed.
"We should be looking to cut taxes," he told Sky News on Sunday.
