The Australian government is preparing to introduce significant changes to negative gearing and capital gains tax from next week, despite the Prime Minister's 2022 election promise not to touch negative gearing. The proposed reforms could fundamentally alter how investment properties are taxed, potentially requiring properties to be positively geared rather than allowing tax deductions for losses. Dr Christian Bayliss from Fort Lake Asset Management suggests the government is leveraging its strong political position to implement major tax reform, though the changes may need to be grandfathered to avoid devastating impacts on current property investors.

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