Albanese government prepares major tax changes ahead of federal budget
The federal government is expected to announce changes to a number of tax policies in tonight’s budget.
Proposed changes are set to include adjustments to negative gearing and the capital gains tax discount, despite previous election commitments from Prime Minister Anthony Albanese to maintain existing negative gearing arrangements.
Treasurer Jim Chalmers is also expected to unveil a new tax measure aimed at offsetting some of the effects of bracket creep for workers.
According to The Australian, the measure will be called the ‘Working Australian Tax Offset’ and is expected to provide around $250 per eligible taxpayer.
