Opposition slams negative gearing changes | ABC News Top Stories

May 5, 2026 · 2 min

About this episode

The episode discusses a boating tragedy in New South Wales and the federal opposition's criticism of the government's proposed changes to negative gearing and capital gains tax.

The New South Wales Premier Chris Minns has expressed his condolences after two Marine Rescue volunteers and another person died, in a boating tragedy at Ballina on the state's north coast. Emergency services responded to reports a yacht was about to hit the South Ballina breakwall last night. Police say the Marine Rescue crew went out to help, but their vessel rolled in rough conditions while crossing the Ballina Bar. The federal opposition is accusing the government of undercutting the public's trust, as it prepares to make changes to negative gearing and the capital gains tax discount as part of next week's budget. While the details are yet to be confirmed, the government is arguing it needs to do more to help younger Australians, despite it promising at last year's election it wouldn't touch negative gearing. The opposition says it's a broken promise and has questioned the benefit. Donald Trump says the war with Iran is 'working out very nicely' and has referred to it as a 'mini war' as tensions spike in the Strait of Hormuz. The US president yesterday announced that his military will help guide ships out of the oil shipping channel, where about 20,000 seafarers remain stuck…

Topics covered

negative gearing
capital gains tax
boating tragedy
politics
US-Iran relations
emergency services

Keywords

negative gearing
capital gains tax
Chris Minns
Donald Trump
Iran
boating tragedy
politics

Mentioned in this episode

Organizations: Marine Rescue

Places: New South Wales, Ballina, Iran, United States

Opposition slams negative gearing changes | ABC News Top Stories

About this episode

Topics covered

Keywords

Mentioned in this episode

More episodes of ABC News Top Stories