Australia Considers Capital Gains Tax, Negative Gearing Overhaul
Prime Minister Anthony Albanese has indicated the government will target negative gearing in this month's budget. The announcement follows discussions regarding a $4 billion contribution for housing to address shortages in remote communities. The policy aims to assist Gen Z and millennial demographics. Albanese did not provide specific details when sidestepping questions regarding the implementation. Political reporter Evelyn Manfield reported from Parliament House in Canberra on the government's focus on these tax measures. The move comes as borrowers prepare for a potential interest rate rise from the Reserve Bank of Australia. The government aims to use these fiscal adjustments to tackle the national housing crisis. These decisions are part of "this budget" and follow long-standing discussions.
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Sources · 7 independent
“The Prime Minister has strongly indicated the government will target negative gearing in this month's budget, despite ruling out any changes at last year's election.”
“The Prime Minister has strongly indicated the government will target negative gearing in this month's budget, despite ruling out changes at last year's election.”
“The Prime Minister has strongly indicated the government will target negative gearing in this month's budget, despite ruling out changes at last year's election.”
“the Albanese government is setting its sights on negative gearing and capital gains tax in a bid to try and tackle housing affordability across the country.”
“The government's decided that now is the time to do it. Difficult though it is, and for the reasons that Sarah just talked about, it's such a complicated picture.”
“The budget on Tuesday night will signal, I think, a year of more ambitious reform.”
“breaking its promises on tax issues and the lead-up to the budget.”
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