Treasurer Jim Chalmers had indicated ‘transitional’ proposed changes as Labor attempts to repair a ‘structurally flawed’ budget Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast Only applying changes to the CGT discount and negative gearing rules to new investments would “severely delay” desperately needed reforms required to repair a “structurally flawed” budget and boost the economy, Deloitte says. The consulting firm estimated that a policy which cut the 50% capital gains tax discount to 33% and abolished negative gearing would only generate $500m over the first four years of operation if existing investments were not included – an approach known as “grandfathering”. Continue reading...