The Treasurer will deliver the 2026–27 Budget at approximately 7:30 pm (AEDT) on Tuesday 12 May 2026.
Link to budget: www.budget.gov.au
ABC Budget Explainer: https://www.abc.net.au/news/2026-05-11/when-is-the-2026-federal-budget/106656890
ABC Live Coverage (blog/online): https://www.abc.net.au/news/2026-05-12/federal-budget-2026-live-may-12/106668626
ABC News Live: https://www.youtube.com/live/vOTiJkg1voo?si=Bx2mybEuXhp2J\_Kh
10Play live link: https://www.youtube.com/live/Qrmp5iuvGGI?si=wQ0Muli5ZzWv1zLc
Source: Stompy2008
40 Comments
If Albo lets Jimbo touch my managed funds, I will go full Valhalla and pillage Marrickville.
Has anyone got any special bottle open to get through this budget announcement?
here we go
Please Jimbo enough with the foreplay I want to see you fuck property investors on live television
Just give us a Kevin Rudd style $950 please
“Fairer budget” f*ck off
ABC live not holding back
“This is a broken promise from the election”
Jim is a really good speaker, even my conservative dad told me he seems like a good bloke
reshaped by structural shits
> The Government will replace the 50 per cent Capital Gains Tax (CGT) discount with a discount based on inflation and introduce a minimum 30 per cent tax on gains from 1 July 2027.
fuck
Abolished negative gearing for new investors, cut the capital gains tax discount and introduced a 30% minimum tax rate for trusts. But some negative gearing and CGT benefits will be available for new dwellings.
Jimbo has an excellent dentist.
Im wondering if hes mentioned the war or oil yet
Headlines from ABC live blog
– $250 tax offset ongoing from July ’27
– From next year, only new housing builds will be able to be negatively geared but arrangements made up until 7.30pm this evening will remain in place
– CGT changed to be cut from next year and tax will apply to the profit made, minus inflation, with a minimum 30 per cent tax rate
Here’s how the deficit is looking over the next four years.
– 2026-27: $31.5 billion
– 2027-28: $31.0 billion
– 2028-29: $34.4 billion
– 2029-30: $25.3 billion
Ngl… Jim Chalmers giving major PM vibes here. He’s a fantastic speaker!
“Treasury’s central forecast assumes oil stays around $100 per barrel until the end of next month and glides to $80 by the end of June next year,”
Thats insane, no way it stays at this price as reserves start to run out
Will reigning in Anika Wells junkets be a high enough figure to get a mention?
Australians and Australian politicians are economically illiterate. Sorry but it’s just facts. So it’s doomed for many more years of failure.
Hardly anyone would be able to correctly identify the actual cause of inflation. Which is expansion of the money supply by the RBA and financial system, specially when they monetise state and federal deficiits. They call it ‘quantitive easing’ but it’s just an obfuscated way to printing money out of thin air.
Australians also are pushing for the public sector to explode which is what’s destroying the economy. Public spending does not increase the economy it’s a cost and burden on the economy and it is certainly not a solution to inflation! That’s ridiculous.
I welcome downvotes from people that have never even opened a book on economics.
I loath Chalmers as Treasurer, but he’s is a good speaker.
Ladder being pulled up from me.
new tax cut!
$5 a week? Fuck Labor voters are cheap dates!
Negative Gearing changes make sense, and what I was hoping they would do.
* Grandfathered existing arrangements.
* For new builds, can offset rental losses against other income
* For existing dwellings, can only offset rental losses against future rental income.
That is a fair and equitable change, and completely sensible and in line with other investments where you can only offset losses against income from the same investment class.
Honestly I’d really love to see a government with the balls to include some kind of budget allocation to provide aid to the gen0c1de victims and their families in Aus or addressing islam0ph1a in our society, THAT would help social cohesion, which we all know albo loves talking about
well here is at least one of Labor’s really strong points, supporting healthcare, and very glad to see an increase and continue support of the PBS
Levelling the playing field by allowing young Australians to go further into debt?
a lot of talk about productivity when AI is taking over
new work to make mandatory standards free?
I don’t like the practice some mps have adopted of just saying “Speaker”, rather than “Mr Speaker” or “Madam Speaker”.
It just sounds wrong.
Labor really are the only party suceeding in getting our country back on track.
Chalmers would make a great PM, I didn’t previously see it for him, but I really do now
bleh, i understand we can’t ignore A.I, but still bleh
Ayy new builds cutout
Lol that ‘here’ for negative gearing reform wasn’t very enthusiastic.
I can hear crying from all the landlords around me
Have we got to the “we are investing in a high speed rail plan to find out if it’s viable for the 30th time” or is it too far from the election?
Yeah, OK, moving tax from incomes to assets makes a lot of sense to me.
>The Government will replace the 50 per cent Capital Gains Tax (CGT) discount with a discount based on inflation and introduce a minimum 30 per cent tax on gains from 1 July 2027.
Okay is it just me or is this kind of crazy? I was expecting them to move back to inflation indexation based cap gains tax, but a minimum of 30pc on gains **despite** moving to indexation means that your asset can be worth the same amount as it was when you bought it or even less in real terms (as in, relative to the price of milk and bread etc.) but then you have to suddenly pay 30pc upon sale anyway?
Or do they mean a minimum of 30% tax on real gains instead of nominal gains, as in 30% of gains made after indexation?
Great work Jim, negative gearing grandfathered and CGT reverts to inflation so as Alan Kohler pointed out this week, no real difference.
It’s Bill Shorten’s birthday today by the way.