Prime Minister Anthony Albanese has firmly ruled out any changes to capital gains tax concessions on the family home, stating it is “a bad idea” and that the government has no intention of altering the policy. Speaking on ABC radio RN Breakfast, Albanese said, “We are not, we are not going to impact the family home, full stop exclamation mark.”
The Prime Minister’s comments came after Treasurer Jim Chalmers initially failed to rule out changes during earlier interviews, prompting Albanese to provide a definitive response. Chalmers later acknowledged he “should have done the same this morning” and confirmed the government had not been considering such a move.
The opposition has seized on the government’s announcement of changes to superannuation tax concessions for balances over $3 million, which will take effect from 2025. Shadow Treasurer Angus Taylor described the proposal as “the start of a slippery slope” on tax reform, while Opposition Leader Peter Dutton pledged to repeal the measure if the Coalition wins the next election.
Independent Senator David Pocock has called on the government to also address negative gearing concessions, but Albanese dismissed such suggestions, saying, “We announced what we are doing… the sort of speculative thing about someone who is an independent raises some issue has no truck with me.”
