{"id":694405,"date":"2026-05-25T22:43:08","date_gmt":"2026-05-25T22:43:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/694405\/"},"modified":"2026-05-25T22:43:08","modified_gmt":"2026-05-25T22:43:08","slug":"albanese-forges-ahead-with-cgt-and-negative-gearing-plan-while-flagging-possible-business-carve-outs-australian-politics","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/694405\/","title":{"rendered":"Albanese forges ahead with CGT and negative gearing plan while flagging possible business carve-outs | Australian politics"},"content":{"rendered":"

Anthony Albanese will present controversial changes<\/a> 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.<\/p>\n

Labor\u2019s pre-election promise of a $1,000 standard tax deduction<\/a> will be included in the draft laws, along with the $250 \u201cworking Australians tax offset\u201d announced in the budget.<\/p>\n

The prime minister wants the \u201ccore\u201d elements of the plan through parliament by early July, setting up a challenge for the Coalition and One Nation<\/a>, who would have to vote against the tax cuts if they choose to oppose the budget measures.<\/p>\n

But Labor MPs expect Tuesday\u2019s caucus meeting to include heated debate about the CGT changes amid a backlash from investors and startup founders<\/a>.<\/p>\n

Guardian Australia understands some within Labor are angry the budget message has drifted away from intergenerational fairness in the housing market, and that the government has struggled to explain the benefits of replacing the 50% capital gains tax discount with an inflation-based model.<\/p>\n

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Giving exemptions to some businesses \u2013 such as businesses in their first few years of operation \u2013 would \u201ctake some heat off\u201d, one MP told Guardian Australia. Others are wary that scare campaigns could \u201cget out of hand\u201d without clearer explanation of the changes from Albanese and the treasurer, Jim Chalmers<\/a>.<\/p>\n

Albanese said rule changes to tax treatment for trusts would come later in the year.<\/p>\n

\u201cThat\u2019s the normal way that tax policy has been implemented for a long period of time,\u201d he said, outlining ongoing consultation with the tech sector and business groups.<\/p>\n

He challenged the opposition leader, Angus Taylor, to support the plan, even as the Coalition regroups through strong opposition to the budget tax changes. Taylor has pledged to repeal the changes<\/a> if the Coalition wins the next election.<\/p>\n

\u201cWe will learn on Thursday whether they have learned anything from the last election,\u201d Albanese said on Monday.<\/p>\n

Albanese wouldn\u2019t be drawn on whether a Senate inquiry into the changes would be required, with the Greens likely to decide the legislation\u2019s fate. Leader Larissa Waters labelled the changes \u201ctinkering around the edges\u201d and called for about 4 million low-income earners and welfare recipients, whose income is below the tax-free threshold, to receive the next $250 offset.<\/p>\n

The government has tried to wrestle the debate back to its preferred territory in recent days, attempting to reorient focus away from the more complicated tax changes.<\/p>\n

Asked about a public campaign criticising the effects of the CGT changes on businesses, including billboards at Canberra airport, the housing minister, Clare O\u2019Neil, argued the budget was aimed at housing.<\/p>\n

\u201cThe main issue that most Australians face in their lives is trying to realise the aspiration to own their own home,\u201d she said.<\/p>\n

\u201cLet\u2019s remember here that the budget is about trying to reshape the housing opportunities for Australians and the people that we are thinking about are the millions of people around our country who are struggling right now.\u201d<\/p>\n

Independent MP Allegra Spender said that rushing through legislation was the wrong idea, warning of \u201csome very significant unintended consequences\u201d on businesses.<\/p>\n

\u201cI think there is a long way to go between the budget announcements and where we need to go,\u201d she said.<\/p>\n

The Australian Chamber of Commerce and Industry chief executive, Andrew McKellar, said carve-outs would not be adequate and called for a total overhaul of the government\u2019s plan.<\/p>\n

\u201cThe government says its priority is lifting our dwindling productivity, but you won\u2019t get business investment if you are going to tax investment; it is counterproductive,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"Anthony Albanese will present controversial changes to negative gearing and capital gains tax to parliament on Thursday, pushing…\n","protected":false},"author":2,"featured_media":694406,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[64,63,44],"class_list":["post-694405","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\/694405","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=694405"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/694405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/694406"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=694405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=694405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=694405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}