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Labor reverses another controversial element of its tax changes
The Albanese government has been forced to reverse yet another element of its controversial budget reforms after intense backlash to its "widows tax".
Labor is making another change to its controversial tax legislation as backlash over the laws has forced the government to back down again on its budget reforms.
Treasurer Jim Chalmers will axe elements of the government's negative gearing and capital gains tax changes, which would have impacted divorcees and widows.
Dubbed the "widows tax", the measure would have scrapped grandfathering exemptions for those property tax changes in the case of a divorce or a death.
This was expected to impact about 680,000 properties owned before Mr Chalmers’ budget address.
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