Negative gearing, capital gains tax and family trusts are all facing a big shake-up in the name of intergenerational fairness. How will it all work?
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The treasurer, Jim Chalmers, says Tuesday’s federal budget includes “the most significant tax reform package in more than a quarter of a century”.
With changes to negative gearing, the capital gains tax discount (CGT) and tax treatment for trusts, Labor says the plan will rebalance the system, away from taxing incomes and more towards taxing assets.