16 News

Labor’s nightmare 2026 Budget continues to grab all the wrong headlines for the Albanese Government. The PM even appears to have pulled his communist Treasurer Jim Chalmers away from the microphones and cameras because he’s doing such a bad job defending the Budget.

Here are some pertinent facts in the debate about capital gains tax discounts and negative gearing.

There are about two million property investors in Australia and 75% of them own only one investment property. Another 19% own only two. That represents about 2.3 million homes for renters. Between 2006 and 2024, state governments have cut public housing stock from 341,000 to 298,000. This demonstrates that it’s the private sector – mostly made up of mum-and-dad investors with one rental property – which provides the overwhelming majority of rental accommodation in Australia.

After reducing public housing, state governments also made things worse by scapegoating private investors for the housing crisis and making property a much less attractive investment with more restrictive tenancy laws. Investors have been pulling out of the market as a result – especially in Victoria – and making rentals even more scarce.

Albanese’s changes to negative gearing – a measure which allows investors to offset investment losses – only further reduces the incentive to buy a rental property. He and his many ministers who own investment properties won’t be affected, but anyone looking to invest in a nest egg property independent of the government won’t be able to use this measure. Labor is pulling up the ladder behind them and leaving young Australians looking up.

One Nation drew the line this week: our policy is to continue to allow investors to negatively-gear up to two investment properties. We support Australians who work hard and invest in their future. Labor is trying to punish them to sustain its unsustainable spending. Enough is enough. You don’t fix a national housing crisis by reducing the ability of investors to provide rental accommodation. You fix it by slashing immigration to reduce housing demand and banning foreign ownership to increase housing supply.

Australia will once again take centre stage for world sport when the 2026 Rugby League World Cup (RLWC) kicks off in Sydney this October.

The Albanese Government is backing the tournament with a $12.4 million investment to support the successful planning, logistics and delivery of the event across nine host cities in Australia, New Zealand and Papua New Guinea.

The investment includes a strong focus on supporting the women’s competition, as women’s rugby league continues to go from strength to strength.

The RLWC will feature standalone women’s, men’s, and wheelchair tournaments, with 26 teams from 16 nations competing in 51 matches across 5 weeks.

Fans will see the men’s and women’s teams sharing the stage across a number of double-headers providing great entertainment and showcasing the very best of rugby league to audiences around the world. 

As Australia prepares for the Brisbane 2032 Olympic and Paralympic Games, the 2026 Rugby League World Cup is another opportunity to showcase our world-class sporting culture on the global stage.

Prime Minister Anthony Albanese:

“Australians love rugby league and this World Cup is a chance to show that to the world.

“This is about packed stadiums, local jobs, children seeing their heroes up close and communities coming together around a game they love.

“The World Cup will bring communities together across Australia, Papua New Guinea and New Zealand, strengthen regional ties and create memories that fans will never forget.

“Australia has a proud track record of hosting world-class sporting events and this is another chance to show the world what we do best.”

Minister for Sport, Anika Wells:

“This investment will deliver an incredible tournament in the lead up to the Brisbane 2032 Games and will create more opportunities and inspiration for kids to hit the field.

“With women’s rugby league continuing to grow year-on-year, the RLWC provides a platform to inspire young people, grow the game further and get more women and girls into sport.

“That’s why we’re getting involved in the 2026 Rugby League World Cup, to make sure it’s the best possible event it can be, and to showcase why Australia is a world leader in delivering international sporting events.”

Prime Minister Anthony Albanese will welcome the Prime Minister of Solomon Islands, The Hon Matthew Wale CBE, to Canberra for a Leaders’ Meeting on Wednesday, 3 June 2026.

The visit will mark Prime Minister Wale’s first official international visit since taking office in May 2026, and follows a phone call between leaders on Friday, 15 May 2026.

Prime Minister Wale will be accompanied by senior Cabinet ministers from the Solomon Islands Government.

Australia and Solomon Islands are committed to advancing a peaceful and stable region through enhancing our development and economic partnership, strengthening our security cooperation, and bolstering climate resilience.

Prime Minister Albanese will host Prime Minister Wale and his delegation at Parliament House to discuss opportunities for further economic, development and security cooperation.

Prime Minister Anthony Albanese

“I congratulate Prime Minister Wale on his recent appointment and look forward to welcoming him to Australia.

“Prime Minister Wale’s decision to make Australia his first official international visit emphasises the importance of the relationship between our nations.

“Despite the global challenges we confront, we recognise we are stronger facing these together as partners.”

Key facts:The Australian Koala Foundation’s Save the Koala Month returns throughout September (1–30 September), with Save the Koala Day falling on Friday 25 September this year.
The campaign encourages individuals, schools, workplaces, and community groups to celebrate koalas whilst taking meaningful action to protect their future in the wild.
Fundraising is a key focus, with supporters invited to organise events such as school activities, workplace morning teas, community fundraisers, or online donation drives.
Supporters can also get involved by sharing educational resources, donating directly, shopping at the Save the Koala Shop, adopting a koala, or purchasing trees through AKF’s Plant-A-Tree programme.
Further details about this year’s campaign are yet to be announced, and the AKF is encouraging Australians to save the dates and begin planning how they will get involved.

The Australian Koala Foundation is reminding supporters across Australia and around the world to mark their calendars, with Save the Koala Month returning this September!

Held annually from 1 September to 30 September, Save the Koala Month is one of the Australian Koala Foundation’s most important campaigns, encouraging people to celebrate Koalas while taking meaningful action to protect their future in the wild.

Koalas may be one of Australia’s most beloved and recognisable animals, but the AKF know that admiration alone will not secure their future. This September, AKF is inviting individuals, schools, workplaces and community groups to stand for Koalas and the protection of their homes, by getting involved and fundraising in support of Koala conservation – for the benefit of all creatures great and small.

Fundraising will be a key focus this September, with AKF encouraging supporters to start thinking about how they can take part. Whether through a school event, workplace morning tea, community fundraiser, online donation drive or something creative of their own, every effort helps support the work needed to keep Koalas in the wild.

Supporters can also take part by sharing AKF’s educational resources, donating directly, purchasing from the Save the Koala Shop, adopting a Koala or supporting AKF’s Plant-A-Tree program, where trees purchased online are planted at Quinlans, one of AKF’s Environmental Reserves.

More details about this year’s Save the Koala Month campaign will be announced soon!

For now, AKF is encouraging Australians to save the dates, start thinking about how they can get involved and prepare to do their part this September.

Save the Koala Month

1 September – 30 September,

Save The Koala Day

Last Friday in September – this year will be Friday 25th September

More to come soon.

· CPA Australia warns of complexity, uncertainty as reform Bill introduced
· Government’s decision to legislate first, consult later is concerning
· Accountants and financial advisers will be left to advise clients on a half-built tax system
Australia’s largest accounting body CPA Australia has warned the Government’s tax reform legislation risks creating a more complex and uncertain system, after the Treasury Laws Amendment Bill 2026 was introduced into Parliament today.
While the Bill delivers the core elements of the Federal Budget’s tax package – including changes to capital gains tax (CGT), negative gearing, the Working Australians Tax Offset and the proposed standard deduction – but leaves critical components unresolved.
CPA Australia Tax Lead Jenny Wong said the most structurally significant measure for private business and family wealth had been deferred.
“This Bill is consistent with the CGT and negative gearing changes announced in the Budget, however the proposed minimum tax on discretionary trusts – arguably the most consequential reform for private business owners – has been split into a separate Bill, leaving a major gap in the system,” Ms Wong said.
Ms Wong said the Government’s decision to introduce sweeping reforms before completing consultation was deeply concerning.
“We would encourage the Government to consult first and legislate later. Introducing significant tax changes into Parliament before properly engaging with affected stakeholders is not how tax reform should be done,” Ms Wong added.
Ms Wong said consultation is still ongoing on critical technical issues, including the treatment of capital gains for small and start-up businesses, interactions with managed investment trusts and tax consolidation.
“Despite these issues still being worked through with additional concerns raised by stakeholders, the legislation has been introduced. This leaves small businesses, investors and everyday Australians with material uncertainty about how these changes will apply to them,” Ms Wong said.
CPA Australia warned that implementing the changes in stages risks undermining investment confidence.
“We acknowledge this is the first tranche of legislation, with more to follow. But Australians cannot plan their financial futures based on half a tax system.
“Implementing reform in tranches creates a two-tier system – where some Australians know where they stand and others do not. That uncertainty has real consequences for investment decisions being made right now.”
Ms Wong rejected comparisons with past reforms such as the GST.
“The GST was the product of years of consultation, negotiation and public debate. This is fundamentally different – a Budget-night announcement followed by staged legislation, with key elements still unresolved,” Ms Wong added.
CPA Australia said the immediate impact of the negative gearing changes highlights the practical challenges of the legislation.
“Negative gearing was wound back on Budget night for investors buying established homes – but the Government hasn’t shared what counts as a ‘new residential dwelling.’ That definition will be written by the Minister, after the Bill passes. This creates avoidable uncertainty at a time when Australians are making significant, long-term financial decisions.”
Ms Wong said the reforms contradict the Government’s stated objective of simplifying the tax system.
“The Government has committed to making tax time simpler, but this package does the opposite,” she said.
“It introduces a new tax offset, a new instant deduction, a new inflation-based CGT framework, a minimum tax rate and revised negative gearing rules, each with different start dates, transitional arrangements and carve-outs.
“That is not simplification – it is layering new complexity onto an already complex tax system.”
Ms Wong said multiple start dates, grandfathering provisions and exemptions will make the tax package arguably one of the most complex in recent memory.
“Australians will need to navigate overlapping rules depending on when assets were acquired, how income is earned and how structures are set up,” Ms Wong said.
“Accountants and financial advisers will be left guiding clients through a system that is still being built, with further changes flagged but not yet legislated.”
CPA Australia is encouraging the Government to reconsider its approach and work more closely with industry.
“We urge the Government to work with us and other stakeholders to get this right. Tax changes of this scale deserve genuine engagement, proper consultation and a complete legislative package that gives Australian and the market the certainty they need. We look forward to consulting with the Government on the next stage of CGT changes.”
 

About CPA Australia     
CPA Australia is Australia’s leading professional accounting body and one of the largest in the world. We have more than 176,000 members in over 100 countries and regions. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. A CPA is a Certified Practising Accountant. More at cpaaustralia.com.au