Labor Introduces Negative Gearing and Capital Gains Tax Overhaul to Parliament

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Treasurer Jim Chalmers speaks during Question Time at Parliament House in Canberra, Australia, on May 13, 2026. Hilary Wardhaugh/Getty ImagesEveryday property investors and renters are facing a fundamental shift in their financial planning, following the formal introduction of Labor’s negative gearing and capital gains tax changes to parliament.While Treasurer Jim Chalmers presented the legislation on May 28 as a tool to fix long-standing distortions in the housing market, the changes will be felt most acutely by suburban Australians.

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