There are new data suggesting the federal budget could be boosted by billions of dollars annually if the government limits capital gains exemptions.
A new Capital Gains Tax report from the Australia Institute shows the government is missing out on $46 billion in revenue every year by allowing an exemption on the family home.
The report says limiting the exemption to houses valued under $2 million would still draw nearly $12 billion in new revenue over four years.
The Housing Industry Association opposes the move saying it could lead to a shortage of homes.
Independent Senator Nick Xenophon says any lifting of exemptions need to be done very carefully because each state's housing market is unique.
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