News in brief… 5 June 2026

Legislation update: CGT, negative gearing, income tax rate adjustments bill passes House

Legislation update: CGT, negative gearing, income tax rate adjustments bill passes House Two bills that seek to amend the capital gains tax (CGT) discount, restrict negative gearing in housing to new builds and introduce a working Australians tax offset and a $1,000 standard deduction for work-related expenses for individuals, have passed the House of Representatives. The Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 and its imposition bill, Income Tax Rates Amendment (Tax Reform No....

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Published Date: 05 June 2026