Two of the significant tax reforms announced in the May Federal Budget have now passed through Parliament, bringing changes to Capital Gains Tax (CGT) and Negative Gearing.
Discussion around tax reform is increasing ahead of the 2026/27 Federal Budget. Attention has already been on tax reform however, current economic conditions are expected to intensify pressure for more comprehensive changes.
With a federal election due in May, Treasurer Josh Frydenberg announced the 2022 – 23 Budget on Tuesday evening, which heavily features measures for combatting the rising cost of living. Measures include cash payments, a cut to the fuel excise and tax breaks.