The Federal Budget plan to make property investment less tax-friendly could also leave ordinary shareholders and startups paying more when they sell their respective shares or businesses.
Young Australians who buy properties to rent out so they can eventually sell them to buy their dream house in a big city are the biggest losers in Labor’s negative gearing and capital gains tax changes.
More than half a billion dollars will be spent over the next five years to tackle anti-Semitism in Australia in the wake of the Bondi Beach massacre, including $80m to tackle online threats and extremism.
JENI O’DOWD: Tuesday’s Federal Budget confirmed what many Australians already suspected: despite mounting pressure on housing, infrastructure and the cost of living, Labor has no intention of slowing migration.
LATIKA M BOURKE: Anthony Albanese and Jim Chalmers are betting their massive majority can succeed where Bill Shorten’s controversial tax agenda once failed.
Sweeping changes to property taxes will likely anger housing investors, with the government bracing for a furore of criticism over The Budget overhaul.
A Budget formed against the backdrop of a massive oil shock from a foreign war, has also given a government accused of standing for nothing a chance to boldly break promises.
Australia will push ahead with its plan to deliver the Henderson ship building precinct south of Perth with an initial $12 billion allocated in this year’s Federal Budget.