Albo has a great lifestyle.

Budget 2026: A 7.30 Special

8:00PM - 8:30PM

Sarah Ferguson presents a 7.30 Budget Special including interviews with the Treasurer Jim Chalmers and Shadow Treasurer Tim Wilson, plus analysis from Jane Norman, Jacob Greber, Ian Verrender and Tom Crowley.

Bobby. wrote on May 12^th, 2026 at 8:16pm:

Was he speaking in formal English?

https://budget.gov.au/content/04-tax-reform.htm



Capital gains tax

The Government will replace the 50 per cent Capital Gains Tax (CGT) discount with a discount based on inflation and introduce a minimum 30 per cent tax on gains from 1 July 2027.

This reform means that investors will only pay tax on their real capital gain, restoring the original intent of the CGT arrangements. The CGT reforms will only apply to gains arising after 1 July 2027. Investors in new builds will be able to choose the 50 per cent CGT discount or the new arrangements.

Negative gearing

The Government will limit negative gearing to new builds from 1 July 2027, to focus tax support on new supply.

Existing arrangements will remain unchanged for all properties held before Budget night, and investors who buy new builds will still be able to deduct losses from other income.

Investors who buy established housing after Budget night will still be able to deduct losses against residential property income. They will be able to carry forward unused losses to future years but won’t be able to deduct them against other income like wages.

Fairer tax arrangements for discretionary trusts

The Government will introduce a minimum tax of 30 per cent on discretionary trusts from 1 July 2028 with some exceptions.

Rollover relief will be provided for three years from 1 July 2027 to assist small businesses and others that wish to restructure.

Bobby. wrote on May 14^th, 2026 at 4:55pm:


I'd rather have a 6mm drill bit inserted into my urethra than watch that.

T minus 2 minutes and counting.

Angus did well -

Albo can put that in his pipe and smoke it.