Modelling shows 90% of young Australians will be better off under Labor’s tax reforms
Modelling from the Treasury indicates that 90% of young Australians will benefit from Labor's proposed tax reforms. The reforms include a $1,000 tax deduction and changes to capital gains tax and negative gearing. Critics express concerns about potential tax increases for some young investors, but the Treasury maintains that the overall impact will be positive for the majority.
- ▪Treasury secretary Jenny Wilkinson stated that the tax reforms would primarily benefit young Australians.
- ▪The proposed changes include a $1,000 tax deduction and a $250 working Australians tax offset.
- ▪Research indicates that the bottom 90% of Australians by lifetime income would benefit from the new tax system.
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Treasury secretary Jenny Wilkinson during Senate estimates in February. Wilkinson on Thursday said the combined effect of Labor’s tax reforms would most benefit young people. Photograph: Mick Tsikas/AAPView image in fullscreenTreasury secretary Jenny Wilkinson during Senate estimates in February. Wilkinson on Thursday said the combined effect of Labor’s tax reforms would most benefit young people. Photograph: Mick Tsikas/AAPLabor partyModelling shows 90% of young Australians will be better off under Labor’s tax reformsThe $1,000 tax deduction, $250 ‘working Australians tax offset’, and CGT and negative gearing changes will benefit most young people, Treasury secretary says Get our breaking news email, free app or daily news podcast Luca Ittimani and Josh ButlerThu 28 May 2026 06.03…
Excerpt limited to ~120 words for fair-use compliance. The full article is at the Guardian.
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