Shadow treasurer Tim Wilson says his objective is to ‘defeat’ changes to capital gains and negative gearing. Follow today’s news live See all our Australia budget 2026 coverage Get our breaking news email , free app or daily news podcast ‘These changes are contentious’ Chalmers admits You might say Bill Shorten walked so Jim Chalmers and Anthony Albanese could run. The pair unveiled major changes last night to negative gearing and capital gains tax, a feat that lost Shorten the 2016 and 2019 budget (the latter that everyone expected him to win). These changes are contentious. There’s no use pretending otherwise, but it’s the right thing to do. The easiest thing that we could have done from a political point of view would be to see these challenges in the housing market, particularly for yo