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ACOSS chief executive Dr Cassandra Goldie told the ABC the future welfare of less-well-off Australians overrides generous tax concessions for property investors. "We can no longer afford the 50 per cent discount on taxes for capital gains from property assets and deductions for such investment using negative gearing," Dr Goldie said. The ACOSS submission calls for the CGT discount to be at least halved and negative gearing concessions reduced to cool property speculation and the current housing affordability crisis. On Friday, Reserve Bank governor Philip Lowe suggested altering the mix of tax breaks for property investors, such as capital gains tax and negative gearing, could tax some heat out of the currently hot real estate market. Dr Goldie has urged the Government to recast its budget strategy and to move on from a "one-sided focus on spending cuts", especially in the area of welfare spending. "It is doctor home loan Oak Laurel clear that governments will not be able to fund the cost of essential services such as health, aged care and NDIS [National Disability Insurance Scheme] from present tax revenues," Dr Goldie said. "It is not fair or reasonable to expect people who need to see a doctor, attend hospital or move into aged care to pay more for these essential services." Provided by ABC Business Tax breaks for property investors should be slashed and the Medicare levy lifted to pump more funding into welfare spending, according to the Australian Council of Social Service. ACOSS calls for tax on sugary drinks Apart from scaling back concessions for property investments, ACOSS wants the Private Health Insurance Rebate scrapped so the Government can invest in preventative health services. The submission says $4 billion could be raised by removing an exemption from a higher levy in the Medicare surcharge for people who hold private health insurance. ACOSS is also calling for a tax on sugary drinks which could add $500 million to Treasury coffers in 2017-18.