Australia Unveils Changes to Negative Gearing, Capital Gains Tax
The overhaul targets investor demand and aims to help 75,000 more Australians buy a first home, Treasury said.
- On Tuesday, May 12, 2026, Treasurer Jim Chalmers presented the 2026-27 federal budget, describing it as the "most important and ambitious" in decades amid global economic pressures.
- Chalmers moved to rebalance an "out of whack" system, citing house prices that rose over 400 per cent since 1999, far outpacing average income growth and locking younger Australians from homeownership.
- The package includes a new $250 Working Australians Tax Offset and a $1000 instant deduction, measures the government says will leave the average worker up to $2816 better off by 2028.
- From July 2027, negative gearing restricts to new builds while capital gains tax reverts to inflation indexing, reforms the government claims will help 75,000 Australians buy first homes over the next decade.
- To fund these measures, the government targets $37.8 billion in NDIS savings and $53 billion in defense spending over 10 years, with the budget forecasting a return to surplus by 2034.
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Australia unveils changes to negative gearing, capital gains tax
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