Labor Introduces Bill to Overhaul Negative Gearing, Capital Gains Tax

Treasurer Jim Chalmers said the reforms were needed for the ’responsible management of the budget.’

Australian Treasurer Jim Chalmers takes questions from the media at Parliament House in Canberra, Australia on May 13, 2026. Hilary Wardhaugh/Getty Images

Everyday property investors and renters are facing a fundamental shift in their financial planning, following the formal introduction of Labor’s negative gearing and capital gains tax changes to parliament.

While Treasurer Jim Chalmers presented the legislation on May 28 as a tool to fix long-standing distortions in the housing market, the changes will be felt most acutely by suburban Australians.