7 News
·general
·1 hour ago
Albanese and Chalmers defend breaking election promise on negative gearing
Prime Minister Anthony Albanese and Treasurer Jim Chalmers defended the 2026 federal budget Wednesday, acknowledging they broke an election promise by limiting negative gearing to new builds. Chalmers said the policy change, decided late in the budget process, aims to help 75,000 Australians buy homes over the next decade. The government argues housing affordability for younger Australians justified the reversal.
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