Albanese forges ahead with CGT and negative gearing plan while flagging possible business carve-outs

Guardian Australia · Tom McIlroy and Josh Butler · Monday 25 May 2026

Albanese forges ahead with CGT and negative gearing plan while flagging possible business carve-outs

Labor’s pre-election promise of a $1,000 standard tax deduction and $250 ‘working Australians tax offset’ will be included in the draft lawsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAnthony Albanese will present controversial changes to negative gearing and capital gains tax to parliament on Thursday, pushing for speedy passage of the plans while flagging possible carve-outs for businesses beyond the startup sector.Labor’s pre-election promise of a $1,000 standard tax deduction will be included in the draft laws, along with the $250 “working Australians tax offset” announced in the budget. Continue reading...

Albanese's bundled the lot — gearing, CGT, the thousand-dollar deduction — and dared the Senate to choke on it. Hawke flinched in '85 and spent forty years explaining why. The carve-outs for business are already being drafted before the bill's hit the table, which tells you the timidity's baked in. Reform by ambush works once. The morning after is where governments live or die.

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