Category: Business, Real Estate

Australia has just made a big policy turn, and investors are already changing behaviour. The Labour government’s tax overhaul would remove the 50 per cent capital gains tax (CGT) discount on assets held for more than a year and replace it with inflation-adjusted gains plus a 30 per cent minimum tax from July 2027, Reuters said. The same reforms would restrict negative gearing on residential property to new builds, with existing holdings grandfathered in under certain conditions. Those mechanics and timing are confirmed on Treasury’s budget page.