The Age
·general
·1 hour ago
Labor restricts negative gearing to tackle housing affordability crisis
Australia's Labor government unveiled a budget targeting housing affordability by restricting negative gearing and capital gains tax breaks for rental properties, reversing a longstanding election promise. Treasurer Jim Chalmers says measures will address "intergenerational unfairness" preventing young people from buying homes. The reforms include $64 billion in deficit reduction over four years, though changes use "grandfathering" to phase in gradually.
Summary by Glance · The Age
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