Albanese government breaks promises with housing tax overhaul | 7NEWS

2 hours ago The Front Page News

The Albanese government’s 2025 budget introduces major housing tax reforms, scrapping negative gearing for existing properties while preserving it for new builds, and replacing the 50% capital gains tax discount with indexation. The budget includes a $250 tax offset for workers delayed until 2027, $64 billion in spending cuts including $38 billion from the NDIS, and forecasts gross debt exceeding $1 trillion for the first time. Migration intake increases to 245,000 next year with 70% of places reserved for higher-skilled workers, while economic growth is projected at just 1.75% with inflation peaking at 5%.

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