Chalmers abolishes negative gearing, reforms capital gains tax for housing

Treasurer Jim Chalmers announced major tax reforms including negative gearing abolition for new investors and replacing the 50% capital gains tax discount with an inflation-linked approach. Treasury modeling estimates the changes will help 75,000 Australians achieve home ownership over the decade. The budget also cuts national disability insurance scheme spending by $36.2 billion.

Summary by Glance · The Guardian Australia