Jul 12, 2026 – 9.00amAs lunch dates go, it could have been an awkward one. But if there was any tension between Westpac boss Anthony Miller and dining companions Anthony Albanese and Jim Chalmers the day after the May budget you would not have noticed.The Treasurer’s fifth federal budget contained a new minimum capital gains tax across all investments and a winding back of negative gearing on property investments – measures that both threaten to choke the banks’ key revenue streams.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Angira BharadwajBanking and financial services reporterAngira Bharadwaj is a banking and financial services reporter for The Australian Financial Review. Send tips to @angirab.60 on encrypted messaging platform Signal.Fetching latest articles