Australia Treasurer Defends Tax Changes as Both Fair, Attractive

Australia’s Treasurer Jim Chalmers is defending proposed tax changes on capital gains and housing, arguing that they increase fairness for investors and still offer more attractive rates than overseas markets.

The changes announced in Prime Minister Anthony Albanese’s budget last week are about balancing the tax treatment of different types of income and reducing distortions in the housing market, Chalmers said at an event at Bloomberg’s Sydney office Tuesday. It was also about more accurately compensating investors for inflation and encouraging investment in assets like medium-term housing, he said.