Chalmers Enters Politics Area That Was Avoided
By Ian Verrender
Topic is Property Prices
Treasurer Jim Chalmers chose the hard road of reform in his budget speech
A federal budget usually doesn't look too far beyond the next election
The annual budget is usually a chance for treasurers to update promises and offer tax cuts
This year is different
Federal budget updates are available
Treasurer Jim Chalmers changed tax breaks for the wealthy
Labor was defeated twice in the past decade
The idea of ending tax breaks for property investment seemed dead
But now it's back
There's not much outrage about the budget leaks
Critics are mostly talking about rental property shortages
People are upset
The political establishment is under attack worldwide
Voters are moving to extreme parties
This is happening in Australia too
The government will change negative gearing and capital gains tax
Labor is under pressure despite having a big majority
The economy is the main issue
Globalization hurt workers in the US
Young Australians are unhappy about property prices
Ignoring this issue could hurt any party
The Budget Explained
Topic is Federal Government
Topic is Federal Government
Topic is Explainer
Analysis by Annabel Crabb
The pendulum swings
Budgets are not just about debt and deficits
We want to know what issues matter to you
Budgets can redistribute wealth and income
Australia has a progressive tax system
Higher income earners pay more tax
The pendulum has swung towards workers
Property investment was a way to build wealth
Negative gearing and capital gains tax are issues
Real estate has increased in value
Tax benefits have cost the nation
A Treasury study showed the cost of negative gearing
The benefits go to high income earners
Australia has high-priced real estate
Will the budget changes work?
Taking away tax incentives is hard
The changes are not tax hikes
The changes will bring in some money
The changes are limited because of grandfathering
Existing investors will still get benefits
Without grandfathering, there would be backlash
Property prices might have dropped
First home buyers might have benefited
The changes will have a small impact at first
Top Stories
Topic is Government and Politics
Topic is Federal Government
Analysis by Annabel Crabb
Topic is Stock Market
Topic is Native Title
Popular now
Topic is Federal Government
LIVE
Topic is Budget
Related topics
Australia
Budget
Housing Policy
Property Prices
Tax
Top Stories
Topic is Government and Politics
Topic is Federal Government
Analysis by Annabel Crabb
Topic is Stock Market
Topic is Native Title
Just In
Topic is Budget
Analysis by Ian Verrender
Topic is Stock Market
Analysis by Annabel Crabb