Australia Weighs Housing Tax Reform in May Budget, Media Say

Australia is weighing proposals to curtail generous tax breaks that have spurred speculative investment in the property market and are widely blamed for helping push home prices to record highs, local media reported.

Treasurer Jim Chalmers, stepping up efforts to tackle intergenerational inequity, will use the May budget to outline measures aimed at cooling housing demand, including limiting landlords from claiming tax deductions on more than two properties, The Australian newspaper reported Friday, citing Treasury sources.

The Australian Financial Review earlier this week said the center-left government is also considering changes to a capital gains tax discount, which allows ...