Chalmers hails “victory for workers” as CGT, negative gearing bill passes into law
After weeks of heated debate, major reforms to capital gains tax and negative gearing have passed both houses of Parliament.
After weeks of heated debate, major reforms to capital gains tax and negative gearing have passed both houses of Parliament.
The bill containing Labor’s CGT overhaul, negative gearing limits, and a suite of other tax reforms passed in the Senate on Thursday with the support of the Greens, before being returned to the House of Representatives for a final sign-off.
This means the planned CGT model — which will replace the existing 50% CGT discount with a model taxing ‘real’ gains over inflation — will begin on July 1, 2027.
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