Jun 8, 2026 – 5.00amBenjamin Naddaf, 24, was preparing to become a “rentvestor” before the federal budget landed on May 12. Overnight, his financial blueprint vanished.“My purchasing power has effectively declined by approximately $100,000 to $150,000 on a potential investment property, and my strategy – previously heavily reliant on negative gearing – has had to be completely rethought,” says Naddaf, who lives with his parents in Sydney and works in the real estate division of an investment management team.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Jessica PennyWealth reporterJessica Penny is a wealth reporter for The Australian Financial Review in the Sydney newsroom. Email Jessica at jessica.penny@afr.comFetching latest articles