I've been very critical of Anthony Albanese.

Now I've been most surprised by his government's steps around capital gains tax, #FamilyTrusts and #NegativeGearing.

Not going to pretend that I understand their complexity. But they seem to be important.

#WhileYoureDownThere Anthony, how about re-establishing the capacity for expert-level work inside the Australian public service that is currently farmed out to the shonky unreliable leech-consultancies?
#AusPol #KPMG
https://www.abc.net.au/news/2026-05-29/kpmg-boss-resigns-over-mishandled-whistleblower-allegations/106737180

Crikey | No, entrepreneurialism shouldn’t get better tax treatment compared to wages by Sophie Black

AI generated summary, Read the full article for complete information.

The article argues that the notion of Prime Minister Anthony Albanese becoming an “equal partner” in Australian businesses is misleading and borders on disinformation, especially as the government’s new tax reforms—tightening negative‑gear‑ing rules and altering capital‑gains tax—spark a backlash from the investor class. While the Labor Party anticipated resistance to the negative‑gear‑ing changes, it was caught off‑guard by a social‑media firestorm, driven by influencers decrying the measures as a “tax on ambition.” The piece highlights how entrepreneurs like mortgage‑broker founder Joseph Daoud are even buying costly billboard space to protest the policies, underscoring the political and economic tensions surrounding the recent fiscal overhaul.

Read more: https://www.crikey.com.au/2026/05/26/capital-gains-tax-entrepreneurs-income-assets-wealth/

#JimChalmers #JosephDaoud #Labor #capitalgainstax #negativegearing

Crikey | Geriatric media searches for young investors to prop up boomer privilege by Bernard Keane

AI generated summary, Read the full article for complete information.

The article argues that mainstream Australian media, whose audience is heavily weighted toward older readers, is weaponising anecdotal complaints from young investors to oppose the Labor government’s modest tax reforms—particularly the tweaks to negative‑gearing, capital‑gains tax and the long‑overdue crackdown on the “trust rort.” Instead of providing evidence‑based analysis, the media leans on personalized stories to criticize the changes, framing them as a bitter pill for investors while largely ignoring the broader context and data behind the policy adjustments.

Read more: https://www.crikey.com.au/2026/05/21/media-campaign-capital-gains-negative-gearing-anecdotes-facts/

#Laborgovernment #mainstreammedia #capitalgainstax #negativegearing #tax

Crikey | ‘Broken promises’, ‘death tax’: What the tax reform tantrum is really about by Rachel Withers

AI generated summary, Read the full article for complete information.

The article “‘Broken promises’, ‘death tax’: What the tax reform tantrum is really about” by Rachel Withers (May 20 2026) critiques the sensational language used against Labor’s proposed changes to investor tax breaks—specifically the capital gains tax discount, negative gearing and trusts—arguing that the core issue is simple: it is unfair for passive‑income earners to pay lower taxes than wage earners, and the current system is an anomaly that needs correcting.

Read more: https://www.crikey.com.au/2026/05/20/death-tax-reform-australia-broken-promise-capital-gains-tax-negative-gearing/

#LaborParty #capitalgainstax #economy #familytrusts #negativegearing

Negative gearing myth BUSTED

The government is finally phasing out this rort, and landlords are crying "rents will skyrocket!" like they did in the 80s.
But the data says otherwise:
Last time we removed neg gearing (1985-87), rent hikes varied wildly by city — local conditions mattered, not the tax change.
Treasury & CBA both say: impact on rents = $2/week in a decade.
Investor demand collapsed 2017-2019 (banking royal commission). Rents grew just 1.2% per year.
Existing investors are grandfathered. New builds still get concessions.

The "sacred cow" was always about subsidising wealth extraction, not housing supply.

#auspol #housingcrisis #negativegearing

https://au.finance.yahoo.com/news/negative-gearing-myth-after-40-years-shows-landlord-loss-shouldnt-hurt-renters-190000304.html

Amy Remeikis

'Anyone who currently owns an investment property will be able to continue to negatively gear it or, put another way, have the taxpayer subsidise them for their loss...you can only do it if you are making a loss. So you have to be prepared to make a loss, which the taxpayer will then subsidise'

#housing #ausPol #federalBudget #negativeGearing

https://www.thenewdaily.com.au/finance/news-federal-budget/2026/05/13/federal-budget-tax-broke-promises

I note the #Albanese Government has finally done something about #NegativeGearing and the #CapitalGainsTax in the Budget.

It is only four years late for this mob and it should never have been made in the first place by John Howard’s Government. But as @amyremeikis.bsky.social points out in her excellent book, everything that is wrong with Australia started under the Howard Government.

The Negative Gearing change ‘grandfathers’ (ie, does not apply to) people with existing properties … that would be nearly every politician in the Federal Parliament.

I’ll write that again … the changes to negative gearing do not apply to nearly every single politician in the Federal Parliament.

#AusPol #Budget2026 #Budget26

Edited to add a hashtag

#Coalition vows to repeal #Labor’s ‘toxic’ #negativegearing & #capitalgains tax budget changes.

Opposition leader #AngusTaylor & shadow treasurer #TimWilson say a future Coalition government would #reinstate generous rules for property investors.

In the year 2525? They are not in ANY position to even dream about forming government. #RWNJ losers. #auspol

https://youtu.be/zKQfxi8V5FA?si=NYcBnfp0fPIIROZ0