The tables are finally turning on boomers and gen X

Outbursts of anger in the right-wing media about Labour’s tax changes are inevitable and, from the government’s perspective, probably quite welcome. Sound and fury, hammer and sickle, give the impression that something big has happened to the tax system, that Labor is finally brave and embarking on ambitious reform. The truth is that this isn’t really true.

Capital gains tax and negative gearing mean significant adjustments rather than major reforms; It is certainly a welcome and sound policy, but it is structured to defer meaningful revenue until the end of the decade and will not significantly shift the dial on housing demand.