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Chalmers Budget: New Homes, Tax Shifts, Relief
Description
Treasurer Jim Chalmers unveiled a budget aimed at tackling the housing crisis, introducing changes to negative gearing and capital gains tax. From 2027-28, negative gearing will only apply to new residential builds, while capital gains tax will shift to taxing real gains at least 30% from 2027-28. These measures aim to free up 75,000 homes over ten years and boost home ownership for young Aussies. Additionally, a new 30% minimum tax for discretionary trusts and a $250 annual tax offset for 13.3 million workers will be introduced.
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