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The Implications of Capital Gains Tax Rate Preferences explores key aspects of one of the more controversial questions in tax policy - what is the appropriate way to tax capital gains? The book examines whether the 50% Capital Gains Tax (CGT) discount for personal taxpayers in Australia has been successful in achieving its original objective of revenue neutrality. The Implications of Capital Gains Tax Rate Preferences presents policy options and recommendations that are informed by in-depth interviews with CGT experts in Australia, Canada, and the United States, as well as by a quantitative study estimating the capital gains realisations response for personal taxpayers in Australia. It is proposed in the book that the CGT regime for personal taxpayers in Australia would be improved by taxing net capital gains at normal marginal tax rates, and by the introduction of an annual exempt amount for net capital gains. The Implications of Capital Gains Tax Rate Preferences is the eighth volume in the Australasian Tax Teachers' Association (ATTA) Doctoral Series.