Chalmers defends capital gains tax changes as fair for first home buyers

Treasurer Jim Chalmers defends the federal government's capital gains tax reforms in response to billboard campaigns claiming the changes punish ambition and side hustles. The reforms aim to reduce the 50% capital gains tax discount to create fairer conditions for first home buyers and better align tax treatment between wage earners and asset investors. Property values are falling in Sydney and Melbourne, with predictions of $120,000 and $80,000 drops respectively over the next year, though Treasury forecasts continued national house price growth at a slower rate.See omnystudio.com/listener for privacy information.