They have benefited from the tax-free status of the family home, from very favourable capital gains tax regimes, generous tax treatment of superannuation and a host of schemes preferencing investment income ahead of earned income. This budget, it is said, will address some of the inequitable ways by which the poor have subsidised investment housing by the richer, but, fearing a reaction (which will certainly come from the elderly, which is to say, Boomers) most of the rorts will be “grandfathered” – that is to say, those already benefiting will be allowed to continue doing so.
