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Parliament Passes Capital Gains Tax Changes After Government Withdraws Some Measures and Deals With Greens
Budget measures altering capital gains tax, negative gearing and introducing a $250 offset cleared both houses on 25 June 2026 after Labor secured Greens support. A new party, Community Strong Australia, was also launched the same day by two independent MPs.
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The federal budget measures changing capital gains tax and negative gearing while introducing a $250 Working Australian Tax Offset passed both houses of parliament on 25 June 2026, Abc reported. Labor reached a deal with the Greens to secure Senate passage that included a provision stopping self-managed super funds from borrowing to purchase housing.
The government withdrew several elements of the original measures after opposition from the small-business sector.
Treasurer Jim Chalmers stated on ABC AM that resistance to tax reform is typical. "Everytime there's tax reform, tax reform people say the sky will fall in, people say that it is disastrous, but typically what happens in time is people look back on big tax reform and wonder what all of the fuss is all about and I'm confident that will happen again," Chalmers said.
On the same day, independent MPs Zali Steggall and Allegra Spender launched the party Community Strong Australia, Abc reported.
The party will operate without a designated leader for the time being. Independent MP Dai Le, the federal Member for Fowler in Western Sydney, stated on Channel Nine that the launch had given her the idea to form a Western Sydney Community Party. "We've got the Western Sydney Community Party out here, so that has given me some kind of idea what to do," Le said.
The updates were posted from Parliament House in Canberra on the morning of Friday 26 June 2026.
