Australia cuts capital gains tax discount in ambitious 2026 budget overhaul

Australia's 2026 federal budget cuts the capital gains tax discount and adjusts negative gearing, marking an ambitious fiscal move despite widespread prior leaks. Treasury forecasts smaller deficits over four years, though jobseeker payments remain 42% below the poverty line and the government cuts $36.2 billion from the disability insurance scheme. The budget reflects selective priorities rather than across-the-board ambition.

Summary by Glance · The Guardian Australia