{"id":668184,"date":"2026-05-13T12:32:11","date_gmt":"2026-05-13T12:32:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/668184\/"},"modified":"2026-05-13T12:32:11","modified_gmt":"2026-05-13T12:32:11","slug":"coalition-vows-to-repeal-labors-toxic-negative-gearing-and-capital-gains-tax-budget-changes-liberal-party","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/668184\/","title":{"rendered":"Coalition vows to repeal Labor\u2019s \u2018toxic\u2019 negative gearing and capital gains tax budget changes | Liberal party"},"content":{"rendered":"

The Coalition has vowed to repeal Labor\u2019s proposed changes to negative gearing and capital gains tax<\/a> if they win power, setting up a major fight before the next election over key tax reform measures from the budget.<\/p>\n

The shadow treasurer, Tim Wilson, and the opposition leader, Angus Taylor<\/a>, said a future Coalition government would reinstate more generous rules for property investors, as well as for Australians minimising their tax through trusts, pledging to fight the proposals in parliament in coming weeks.<\/p>\n

Taylor said the Coalition<\/a> would only support a new $250 tax offset for workers, and new hospitals funding announced on Tuesday night.<\/p>\n

\u201cAbsolutely, our position is we\u2019re going to do everything we can to stop these bad taxes, toxic taxes, from getting through the parliament,\u201d he told Sky on Wednesday.<\/p>\n

\u201cWe\u2019ll do whatever it takes to roll these taxes back.\u201d<\/p>\n

Sign up for the Breaking News Australia email<\/a><\/p>\n

The Coalition\u2019s repeal plan would leave the budget about $70bn worse off, requiring additional savings or revenue measures to fix the shortfall.<\/p>\n

The treasurer, Jim Chalmers, used Tuesday night\u2019s budget to break Labor\u2019s election promises on tax reform, announcing an end to negative gearing for new investment properties and scaling back the 50% capital gains tax discount.<\/p>\n

Investment properties bought after Tuesday night will no longer be able to be negatively geared, while the CGT discount will be replaced by 1 July 2027.<\/p>\n

Wilson said the Coalition would seek to defeat the changes for property investors, adding: \u201cWe\u2019ll repeal these measures if necessary.<\/p>\n

\u201cBut when it comes down to the measures of broken trust built on bad faith that this government is putting forward, which is going to kneecap young Australians, then let\u2019s be very clear about just how bad it is.\u201d<\/p>\n

\"WhyWhy was the NDIS so severely cut? And your other 2026 federal budget questions answered \u2013 video<\/p>\n

The next election, due by mid-2028, will coincide with the full suite of changes coming into force.<\/p>\n

Taylor initially left open the question of repealing the changes on negative gearing and capital gains tax, telling the ABC on Wednesday morning: \u201cLet\u2019s see.<\/p>\n

\u201cLet\u2019s see, because if you take their small business taxation, for instance, they\u2019re saying they\u2019re going to do a review because they realise there\u2019s a whole lot of criticism they\u2019ve had.<\/p>\n

\u201cThey\u2019re going to do a review of their own capital gains tax measures, again a huge amount of criticism around investors, particularly small business and growth investors.<\/p>\n

\u201cSo we don\u2019t even know what final form this is going to come in. What I do know is we are dead opposed to those increases and we\u2019ll fight them.\u201d<\/p>\n

The Greens leader, Larissa Waters<\/a>, said her party will drive a hard bargain with Labor before committing to pass the measures through parliament, demanding more detail from the government.<\/p>\n

She told Guardian Australia the changes for property investment were little more than \u201ctinkering around the edges\u201d and as much as 95% of the benefits of the existing rules would remain.<\/p>\n

Asked if the Greens would hold up progress of the budget appropriation bills, Waters said the party needed more detail on major provisions.<\/p>\n

\u201cI think the government had a choice in who they work for, who they were going to deliver for. They\u2019ve chosen the big corporations and the 1%, they haven\u2019t chosen people,\u201d she said.<\/p>\n

She called for the $250 tax offset \u2013 dubbed by the government the \u201cworking Australians tax offset\u201d \u2013 to be given to about 4 million low-income earners and welfare recipients whose income is below the tax-free threshold.<\/p>\n

The prime minister, Anthony Albanese, ruled out extending the payment, due to come into force from the end of next financial year.<\/p>\n

He said the offset was designed to \u201cbenefit people who actually work\u201d.<\/p>\n

\u201cIf they fall below the tax-free threshold, they literally are not paying tax, by definition. So it\u2019s pretty hard to provide tax cuts to people who don\u2019t pay tax.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The Coalition has vowed to repeal Labor\u2019s proposed changes to negative gearing and capital gains tax if they…\n","protected":false},"author":2,"featured_media":668185,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[64,63,44],"class_list":["post-668184","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australia","tag-au","tag-australia","tag-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/668184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=668184"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/668184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/668185"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=668184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=668184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=668184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}