Albanese forges ahead with CGT and negative gearing plan while flagging possible business carve-outs

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Originally published byThe Guardian Australia

Labor’s pre-election promise of a $1,000 standard tax deduction and $250 ‘working Australians tax offset’ will be included in the draft laws

Anthony Albanese will present controversial changes to negative gearing and capital gains tax to parliament on Thursday, pushing for speedy passage of the plans while flagging possible carve-outs for businesses beyond the startup sector.

Labor’s pre-election promise of a $1,000 standard tax deduction will be included in the draft laws, along with the $250 “working Australians tax offset” announced in the budget.