Australian Prime Minister Anthony Albanese and Treasurer Jim Chalmers arrive at Parliament House in Canberra, Australia on May 13, 2026. Hilary Wardhaugh/Getty Images
From restaurants, hairdressers, and roofers to mechanics, a new online trend is taking off with Australian business owners reacting strongly to the Labor government’s new taxes on wealth creation vehicles.
Last week, Labor overhauled negative gearing on property investments, expanded the capital gains tax, and imposed a new 30 percent tax on discretionary trusts—a legal tool often used by small businesses to help split income and lower their tax obligations.
