Capital gains tax on family homes over $2 million??

‘The Australian’ has just reported that the Australian Government had asked Treasury to model capital gains tax scenarios on family homes valued over $2 million. As this is political dynamite, the Federal Treasurer unsurprisingly released this statement four days later: “[T]he Government is not considering and will not consider the policy outlined in that article.” Treasury will make final recommendations on this topic in December 2009. Watch this space…