Australia's New Tax Overhaul: Wealth vs. Wages

Australias latest federal budget unveils a significant tax overhaul, targeting negative gearing, capital gains tax discounts, and family trusts. Starting July 1, 2027, new investment properties lose negative gearing perks, and capital gains tax discounts are replaced with inflation-adjusted indexation. A 30% minimum tax on discretionary trusts begins July 1, 2028. The changes aim to make housing more affordable for first home buyers, while existing investors retain benefits on old properties. Critics argue this may reduce housing supply, but the government expects it to boost first home buyers and clear the path for workers and first-timers to build wealth.

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