Chalmers' Budget Overhauls Tax, Housing

Treasurer Jim Chalmers unveils significant budget changes, targeting capital gains tax and negative gearing to address housing affordability. Starting July 2027, the CGT discount is replaced with an inflation-based break, and negative gearing is limited to new builds. Chalmers admits the shift breaks an election promise but argues its for the greater good, aiming to ease inequality without harming existing investments. The budget also includes relief measures like a yearly rebate, healthcare funding, and business breaks. Labors focus on fairness over easy wins is under scrutiny as the changes take effect.

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