Chalmers says keeping existing tax settings would be “unacceptable”

Treasurer Jim Chalmers says the federal government cannot accept retaining the current tax system after the federal budget confirms changes to the way capital gains tax and negative gearing work. The comments are reported across multiple outlets, all citing Chalmers describing the option of “sticking with” the existing arrangements as “unacceptable.” The reporting focuses on the budget-confirmed adjustments to capital gains tax and negative gearing, which are long-standing features of Australia’s tax treatment for property investors. While the articles do not provide extensive policy detail, they consistently frame Chalmers’ position as a reaction to the budget’s confirmation of changes already set out in the tax measures. The outlets present the same central message: the Treasurer argues that maintaining the previous settings is not an option for the government, following the budget’s confirmation of reforms affecting investors who realise capital gains and those claiming negative gearing deductions.