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Treasurer Jim Chalmers speaking while standing at a lectern as he delivers the 2026 federal budget.

Live updates: Federal budget — Opposition 'dead against' property tax reforms, as Chalmers defends 'contentious' changes

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Politics

Finance minister responds to Coalition backlash

Finance Minister Katy Gallagher has hit back at Opposition treasury spokesperson Tim Wilson's comments that 35,000 fewer homes will be built as a consequence of changes to capital gains tax and negative gearing.

Tim Wilson says the budget is 'built on broken trust'

Speaking to Sky News this morning, Opposition treasury spokesperson Tim Wilson reasserted that the Coalition would oppose and, if elected, seek to repeal the changes to negative gearing and capital gains tax if they're enacted.

Bill Shorten says he feels vindicated

Former Labor Opposition leader Bill Shorten, who took housing tax reforms to the 2019 election and lost, told ABC's RN Breakfast the changes were vindicating.

"In 2016 and 2019, we took tax reforms to the electorate, and I think that we were probably ahead of our time, and I do think this is important for the nation," he said.

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Federal Budget 2026

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Jim Chalmers standing and speaking in the House of Representatives.

Australian News

'Brutal oppression': Australian government imposes new sanctions on Iranian officialsScrolling through his phone after his marriage ended, Tim realised he had no one to callWhat time is the 2026 federal budget? Here's everything we know so farPolice find body in search for alleged triple murderer Julian Ingram

World News

'Devoid of all military logic': Zelenskyy fumes as Russia targets Ukraine civiliansAs his China trip begins, Trump insists he doesn't need Xi's help on IranTown 'at the end of the world' denies hantavirus origins as travellers warnedDonald Trump is set to land in China for historic talks — and he's bringing an old friend

Australian Politics

'Go for government': Western Sydney One Nation's next target after by-election winAlbanese vowed no changes to housing tax breaks. Now he's defending reformsCould One Nation's Farrer victory be the 'beginning of the end' for the Coalition?'Unfair, unacceptable': Jim Chalmers flags major tax changes in upcoming budget

Cost of Living

Australia's dying middle class — and the rise of an inherited wealth nationA $100 billion Australian sector is struggling. For Angela, it means 'working twice as hard'An inflation headache, a stronger Aussie dollar, and falling fuel prices — for nowAustralia's 'most liveable city' is also one of its most affordable — but will it last?

War in the Middle East

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U.S. Continues Maritime Blockade In Strait Of Hormuz

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Royal commission hears impacts of antisemitism on Jewish Australian women

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WARNING: This report contains confronting detail. The Royal Commission into Antisemitism and Social Cohesion has today heard data analysis and survey findings relating to antisemitism. One survey of Jewish women has found people are being excluded from circles they used to belong to, made fun of at work and retreating into their homes.

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Australian Treasurer Jim Chalmers speaks to the media during a press conference inside the 2026 Budget lockup at Parliament House in Canberra.
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Australian Prime Minister Anthony Albanese, Australian Treasurer Jim Chalmers and Australian Finance Minister Katy Gallagher walk through a courtyard during a pre budget picture opportunity at Parliament House in Canberra.

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The unrelenting pursuit of climbing the career ladder and achieving success has many questioning if the rat race is still worth running. Insight looks at why some of us prefer the rat race, why some are opting out, and asks: Is there a way to still run the race, without it running us?

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Adam Liaw goes inside Changi Prison. With rare access to the maximum-security wing reserved for those convicted of the most serious offences, Dateline investigates Singapore's tough stance on crime.

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