Overview
- Treasurer Jim Chalmers, speaking at a Sydney investors forum Tuesday, said the government will accept near‑term political pain to reset housing incentives for younger buyers.
- The plan replaces the 50% capital gains tax discount with inflation indexation and a minimum 30% rate from July 1, 2027, and it restricts negative gearing to newly built homes with grandfathering and a short transition period.
- Polling published Sunday showed a backlash, with Newspoll labelling the budget the least popular in decades and Resolve putting Angus Taylor slightly ahead as preferred prime minister as One Nation’s primary vote rose.
- New analysis from the Financial Services Council says younger savers face higher lifetime CGT on shares and funds, including an extra $7,552 over 20 years on a $10,000 share parcel for a 25‑year‑old and about $66,000 more over 20 years for a 35‑year‑old in a high‑growth fund.
- Business leaders and some Labor figures want the CGT change limited to housing, while Treasury forecasts project about 75,000 more first‑home owners and slightly slower price growth if Parliament enacts the package.