Budget 2026 live updates: Coalition pledges to repeal Chalmers’ tax reforms amid mixed reception for ‘difficult’ budget
Shadow treasurer Tim Wilson says his objective is to ‘defeat’ changes to capital gains and negative gearing.
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Good morning and welcome to our live news blog.
I’m Martin Farrer with the top overnight stories and then it will be Krishani Dhanji with the main action.
There’s already plenty of reaction today after Jim Chalmers delivered his fifth budget as treasurer last night.
Interest groups are lining up to give their verdict on their particular slice of the financial pie, welcoming some parts and criticising the lack of action on others.
https://www.theguardian.com/australia-news/live/2026/may/13/budget-2026-live-updates-reaction-jim-chalmers-tim-wilson-cost-of-living-capital-gains-negative-gearing-housing-tax-ntwnfb">Continue reading...Chalmers defends property tax overhaul
- PM defends broken pledge on property tax Sydney Morning Herald —
- Australia Tackles Property Tax Breaks, Disappoints on Deficit Bloomberg —
- Treasurer backs budget changes Sydney Morning Herald —
- Live: Chalmers defends negative gearing changes in budget wash-up ABC News —
- Is this the budget we need? Our experts deliver their verdicts Sydney Morning Herald —