Negative Gearing Is Dead, Unless You’re Already In. Jim Chalmers Explains Why Young Australians Miss Out
5/15/202617 min
The federal budget has dropped… and Australians have opinions.
So Victoria sat down with Australia’s Treasurer, Jim Chalmers, immediately after the budget announcement to ask the questions everyone actually wants answered. From negative gearing and capital gains tax changes to the cost of living crisis, fuel prices, housing affordability, tax cuts and why blueberries suddenly cost what feels like a small mortgage repayment.
They also get into the political backlash surrounding the budget, why the government changed its position on housing tax reform, whether Canberra is disconnected from how tough things feel financially right now, and what Treasurer Chalmers says Australians fundamentally misunderstand about the federal budget.
There’s also unexpected chat about ChatGPT, air fryers, pocket money, coffee machines, influencers, and what it actually feels like to hand down a budget while the internet calls you “The Jim Reaper.”
If you’ve been trying to make sense of what just happened in Canberra, this is the budget breakdown you actually want to hear.
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Acknowledgement of Country By Nartarsha Bamblett aka Queen Acknowledgements.
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Transcript preview
First 90 secondsVictoria Devine· Host0:00
Hello, my friends, and welcome to She's on the Money. I am Victoria Devine, and around here we are all about making money a little less overwhelming. We have a community of more than 300,000 people. We have podcasts and blogs. We also have freebies like budgeting tools and investing cheat sheets to help you feel more in control of your financial future. She's on the- Money ... She's on the Money. [laughs] [laughs] [upbeat music] My name's Natasha Bamblett. I'm a proud First Nations woman, and I'm here to acknowledge country. Hello, beautiful friends. We gather on the lands of the Aboriginal people. We thank, acknowledge, and respect the Aboriginal people's land that we're gathering on today. Take pleasure in all the land and respect all that you see. She's on the Money podcast acknowledges culture, country, community, and connections, bringing you the tools, knowledge, and resources for you to thrive. Hello, and welcome to She's on the Budget, the series where we break down the federal budget in a way that hopefully makes you sound smarter at brunch, in the group chat, or aggressively pacing Coles, wondering why blueberries now require a payment plan. I'm Victoria Devine, and joining me today is the Treasurer of Australia, Dr. Jim Chalmers.
Jim Chalmers· Guest1:14
Very kind of you to have me on your show. Thanks heaps.
Victoria Devine· Host1:16
I am very much looking forward to sharing this time with you. I know it's compressed, so I'm gonna try and be speedy. But before we get into the economy, the budget, and the fact that Australians do probably need to take out a small business loan to be able to fill up their car at the moment,