Open accessibility guideSkip to sections navigationSkip to contentSkip to footerThe Sydney Morning Herald logoThe Sydney Morning Herald logoAdvertisementNationalAnthony AlbaneseLabor’s contentious tax hikes on capital gains and trusts have been wound back, following a sustained attack on the measures and drops in the polls.Updated June 18, 2026 — 12:23pm,first published 12:19pmLoadingLatest in VideosVideo icon1:29USA legend Charlie Davies reacts to Mike Grella sledging the SocceroosVideo icon2:06Parents of children killed in Cabramatta crash speakVideo icon1:45Peace plan between US and Iran signedVideo icon4:59Kewell claps back at USAAdvertisementThe Sydney Morning Herald logoTwitterFacebookInstagramRSSOur SitesThe Sydney Morning HeraldThe AgeBrisbane TimesWAtodayThe Australian Financial Reviewnine.com.auDriveClassifiedsTributesPlace your adThe Sydney Morning HeraldContact & supportAdvertise with usNewslettersAccessibility guideSitemapPhoto salesPurchase front pagesContent licensingWork with usTerms of usePrivacy policyPress CouncilCharter of Editorial IndependenceAI Editorial GuidelinesProducts & ServicesSubscription packagesMy accountSubscriber FAQsDelivery statusToday’s PaperGood Food GuideDaily PuzzlesCopyright © 2026Subscribe