Labor quietly goes back to its 2019 tax agenda

by · Australian Financial Review

John KehoeEconomics editor
May 9, 2026 – 5.00am

We’re a few days away from the federal budget, and something quite extraordinary is going on.

Prime Minister Anthony Albanese and Treasurer Jim Chalmers are planning substantial changes to the tax system that will probably affect investors, small businesses and wealthy families.

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John KehoeEconomics editorJohn Kehoe is The Australian Financial Review’s economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the AFR in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com

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