May 29, 2026 – 4.00pmThe first of the government’s bills to enact the tax changes it announced in the May 12 federal budget were introduced into parliament this week – but accountancy groups say several key details are still up in the air.This week’s legislation only covers the capital gains tax discount and negative gearing changes, along with the $1000 standard tax deduction and the Working Australians Tax Offset (WATO). The legislation imposing a minimum 30 per cent tax rate on trusts is yet to surface. Any CGT carve-out for start-ups is also absent.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Michelle BowesDeputy wealth editorMichelle Bowes is deputy wealth editor at The Australian Financial Review. She has been a business journalist for 25 years and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls.Fetching latest articles