It’s not often you get the opportunity to follow a former Treasurer on stage and pull apart the case they’ve just made. Wayne Swan told the The @FinancialReview Super & Wealth Summit that the CGT changes are 25 years overdue. I then joined Rebecca Zwier, John Bongiorno and Michael Fox to explain why we think they’ll have disastrous consequences for the economy. From individual shareholders and business owners to companies raising capital and the property market. I learned from Michael that even the local art market is feeling the pain... Investors are being pushed out of direct shares and into ETFs and other pooled structures to avoid tax rates as high as 82%. Meanwhile the ASX small cap market is a basket case - these changes will make it even harder for Australian businesses to attract capital and grow. All four panellists agreed on one thing... hiking CGT isn’t the solution to Australia’s housing and productivity problems. Thanks to @JoannaMather for leading a great discussion.