Australian government restricts negative gearing to tackle housing affordability crisis

Australia's government unveiled a budget targeting housing affordability by restricting negative gearing and capital gains discounts on rental properties, measures Treasurer Jim Chalmers says address "intergenerational unfairness." The $64 billion deficit reduction plan also cuts disability payments to ineligible recipients. Grandfathering existing investors limits early savings but reduces political opposition to the reforms.

Summary by Glance · Brisbane Times