Episode Details

The Albanese government is proposing major income tax reforms that would allow 6.2 million workers to claim an instant $1,000 tax deduction without receipts from the 2026-27 financial year, delivering an average tax saving of $205. Treasurer Jim Chalmers has indicated the budget will focus on responsibility, resilience and reform, with speculation mounting that changes to capital gains tax on housing may level the playing field between property investors and first home buyers. The proposed changes could see a return to the 1990s system of calculating capital gains tax based on real property values adjusted for inflation, rather than the current 50% tax discount for investors.

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