Treasurer Jim Chalmers announced changes to capital gains tax and negative gearing, along with an income tax offset to help with rising cost of living. Inflation is expected to reach 5% by mid-2026.
Key Points
- Treasurer Jim Chalmers has delivered Australia’s 2026 budget, describing it as a “hard road of reform” focused on major economic changes.
- The budget includes housing tax reforms, tax cuts to help with cost of living, and $35 billion in savings from changes to the National Disability Insurance Scheme (NDIS).
- The government says the plan aims to reduce inflation, strengthen the economy, and boost jobs, including allowing an extra 4,000 skilled migrant workers each year.
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