The Coalition is vowing to do all it can to stop Labor's tax reforms, which the Shadow Treasurer says will increase rents and make it harder for young people to buy a house. Restrictions on negative gearing, which allows property investors to offset losses, will be phased out under a plan announced by Treasurer Jim Chalmers as part of the federal budget, as will capital gains tax discounts. Federal budget 2026: Stay up to date with the budget aftermath in our live blog.