The Albanese government's controversial tax changes, including negative gearing reforms and CGT discount scrapping, have passed the House of Representatives, with Labor rejecting Coalition proposals to end bracket creep.
Labor's first tranche of major tax reforms passed the lower house 94-49, despite opposition from One Nation and the Coalition. The bill now heads to the Senate where the government lacks a clear majority.
Finance Minister Katy Gallagher has defended ministerial discretion in CGT and negative gearing reforms, rejecting claims Labor isn't serious. The Greens and crossbench question the breadth of powers.
Hungary's new leader Péter Magyar plans a wealth tax on the super-rich, targeting oligarchs who benefited under Viktor Orbán. The policy aims for social justice and to reclaim public funds.
