Jun 11, 2026 – 12.01amThe government’s proposed reforms to negative gearing and capital gains tax have triggered a 20 per cent fall in Westpac’s housing investor loan applications over the past three weeks, with the head of consumer banking Carolyn McCann warning there is widespread community concern about the changes.The federal budget revealed a minimum 30 per cent tax on capital gains to be imposed from July 2027 and the abolition of negative gearing for existing properties. Both changes rattled investors and caused a slide in auction clearance rates and house prices in Melbourne and Sydney.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Westpac investor loans plunge one-fifth on federal budget tax shock
Consumer banking chief executive Carolyn McCann says there is widespread community concern about the capital gains tax and negative gearing changes.
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