With changes to the way trusts are taxed soon to be introduced to parliament, this research reveals that revenue equivalent to almost a quarter of GDP now flows through trusts. The report uses Treasury data which shows that trusts are overwhelmingly used by the wealthiest Australians.

This Impact Analysis Equivalent considers reforms to negative gearing and capital gains tax arrangements. It sets out the problem being addressed, the proposal, the assessment outcome and the regulatory burden. The Department of the Treasury estimates the changes would increase average regulatory costs by $88.4 million per year.

This overview outlines the key initiatives for the Australian Government Budget, and presents the international and domestic economic outlook. The Budget aims to get Australia through the global oil shock and take pressure off Australians, while continuing to build a stronger economy, better tax system, fairer housing market and a more sustainable budget.

The results of the 2025 survey show Australians continue to expect a tax system that is fair, progressive, and capable of addressing inequality, while also funding high‑quality public services that support everyday life. Support for tax reform remains, but it is expressed with greater caution and conditionality than in previous years.

Capital gains tax (CGT) and negative gearing were two of the top three priorities for tax reform in Australia identified by participants at a community tax summit. This paper argues for a reduction to the CGT discount from 50% to 25% and limiting negative gearing deductions to investment income only.