Prime Minister Anthony Albanese, Treasurer Jim Chalmers and Finance Minister Katy Gallagher have just released a video on the government’s social media platforms spruiking the tax reforms to be announced in tonight’s budget as key to helping more younger Australians own their own home.
“Tonight we’re changing Australia’s tax system to level the playing field for them and boosting housing supply to level the playing field,” Chalmers says in the video.
“Tonight we’ll also announce new ways to boost supply even further.”
Now, the video itself doesn’t reveal much we don’t already know, with changes to the CGT discount, negative gearing and trusts all but confirmed.
But it is still interesting for two reasons
It clearly establishes the expected tax reform to help young Australians break into home ownership as a key focus for the government when selling this budget to the country.
And nine.com.au understands the government hopes tonight’s budget reforms will help 75,000 Australians buy their first home. But as ever, the devil will be in the detail.
As well as housing, inflation, productivity, innovation and intergenerational inequity are expected to be key themes tonight.
It is also interesting that the government decided to drop this vertical video on social media platforms ahead of the budget, clearly attempting to get their message across to a younger audience before tonight, rather than announcing it in a more traditional way.
Of course, more people than ever will get their budget information from social media tonight, and you can be sure every media outlet in the country will carry coverage across all platforms as well as their sites.
That, of course, includes nine.com.au. You can continue to follow our blog here throughout the night, while 9News will host a Budget Revealed special on 9Now and 9News TikTok, YouTube and Facebook channels from 7.30pm.
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