Opposition Vows to Stop Tax Changes

Topic: Federal Government

Angus Taylor says changes to taxes are bad for people's dreams.

In short:

The Coalition will fight changes to negative gearing and capital gains tax.

The government's tax plan will increase rent, reduce homes, and hurt young people.

What's next?

Angus Taylor will give a speech on Thursday.

The Coalition will try to stop Labor's tax reforms, which will increase rents.

Changes to negative gearing and capital gains tax will be made.

Follow the budget news.

The goal is to help people buy homes.

But the opposition leader says it will hurt young people.

The opposition leader does not support the tax changes.

The shadow treasurer says the changes will have the opposite effect.

The government is protecting the wealthy, not young people.

Tax discounts on capital gains will be removed.

Gains before July 2027 will still get a discount.

New investment properties cannot be negatively geared.

Investors cannot deduct losses from their income.

Properties bought before May 12 can still be negatively geared.

It will be harder for people to invest and start businesses.

The budget explained

Topic: Federal Government

Topic: Explainer

Analysis by Annabel Crabb

Analysis by Ian Verrender

One Nation's Pauline Hanson opposes the tax changes.

The government is taking wealth from some and giving it to others.

This is a bad budget.

It's like communism, taking from the rich and giving to the poor.

The tax changes will reduce home building.

House prices will grow slower, and rents will increase.

The Coalition says the policy will tax people who invest to save.

The Coalition wants to stop the tax reforms.

The Greens have their own plans for negative gearing and capital gains tax.

The Greens will review the legislation.

If it's a small step forward, they might support it.

The Greens say the budget missed a chance to fix the housing crisis.

The prime minister and treasurer are selling the budget.

The prime minister knows he needs to work to get support.

The prime minister hopes everyone will vote for it.

The Coalition always says no, but the government will try to get support.

The government hopes to get support from many members and senators.

The Coalition might repeal the laws if they win government.

If necessary, they will take measures.

Working tax offset to target bracket creep

The Coalition opposes the property tax changes but supports the earned income tax offset.

The new tax offset will be paid to 13.3 million workers.

The distinction between income from wages and investments will be reflected in future budgets.

The government is putting money back in workers' pockets and increasing taxes on investors.

The tax reforms will align the tax treatment of workers and investors.

The tax system is out of balance.

The Working Australians Tax Offset will lift the tax-free threshold for workers.

The offset will help workers in the future.

The shadow treasurer says the gains for workers will be lost to inflation.

The new measure will be wiped out within six months.

The government's strategy is to increase inflation, tax it, and then spend it.

It's not addressing the root cause of the problem.

It's hard to give tax cuts to people who don't pay tax.

The tax offset helps low and middle-income earners.

Promotion

Practice Listening