I will also add that it's not just the social impact.I agree with the social intent of the policy - older generations amassing large property portfolios to reduce tax and pricing younger generations out of the market does not fit comfortably to me. Economically, the policy seems to be coming at a time where everything is balanced fairly perilously - hope that you are right and it will be fine.
It's about fixing structural issues within the budget. That's our biggest problem.
Costello had revenue coming out of his arse during the mining boom.
By giving tax cuts (both parties to blame in 2007) and then offering the 50% CGT discount, they embedded long term revenue losses. These are annual recurring losses and are only affordable when revenue is up.
When it isn't, you still have to give away the tax concessions regardless, and you go into deficit... Which we have seen post GFC
Then you have to cut essential services of borrow and increase debt, which is what we have witnessed.
Cutting NG and reigning in CGT means that you don't have to pay for something regardless of revenue levels.




