The Federal Budget just changed retirement FOREVER

In this emergency Australian Retirement Podcast episode, Drew and James unpack last night's Federal Budget - including the abolition of negative gearing on established property, the scrapping of the 50% CGT discount, and a brand new 30% minimum CGT rate that pre-retirees and retirees need to wrap their heads around fast. In this Australian Retirement Podcast episode, your hosts Drew Meredith, from Wattle Partners, and James O'Reilly, from Northeast Wealth, react to Treasurer Jim Chalmers' Federal Budget bombshell - the biggest shake-up to property and investment tax in a generation. Negative gearing has been axed for future purchases of established property. The 50% CGT discount is gone, replaced by an inflation indexation model. And for the first time, a 30% minimum CGT rate is being layered in - mirrored by a matching 30% minimum on discretionary trust distributions - aimed squarely at older Australians who'd otherwise pay less tax in retirement. Even pre-1985 assets, untouchable for over 40 years, are being dragged into the tax net. Drew and James talk through what's grandfathered, what isn't, what the 1 July 2027 start date means, and why anyone running income through a family trust needs to revisit their strategy. If you like this Australian Retirement Podcast episode on the Federal Budget, you'll love the series. Don't forget to subscribe for weekly shows on Apple, Spotify, YouTube or wherever you get your podcasts. Topics covered today: - The headline changes from Chalmers' Budget - Negative gearing - what's been axed, what survives, and the new-build carve-out - The death of the 50% CGT discount and the move to inflation indexation - The new 30% minimum CGT rate - and why retirees are the real target - The 30% minimum tax on family trust distributions - Pre-1985 assets brought into the tax net for the first time - What's grandfathered and what to do before 1 July 2027 00:00 Budget Overview 01:50 CGT Changes Explained 05:32 Valuation Strategy Options 08:50 Minimum Tax Rate Impact 10:34 Negative Gearing Overhaul 14:47 New vs Existing Properties 17:44 Property Market Outlook 22:39 Supply Side Concerns 27:00 Trust Minimum Tax 31:43 Private Health Rebates Cut 33:49 Working Australians Offset 35:18 Debt Recycling & Super 37:15 Listener Q&A Preview Episode resources - Ask a question (select the Retirement podcast): https://bit.ly/R-quest Show partner resources - Visit TermPlus to learn more https://termplus.com.au/?utm_source=rask&utm_medium=podcast&utm_campaign=retirement_seekers&utm_term=general&utm_content=youtube_description - Have the chance to win a 5k travel voucher. Take the TermPlus survey here (last entry 31st of May) https://termplus.com.au/money-mindset-index/survey/?utm_source=rask&utm_medium=podcast&utm_campaign=money_mindset_index&utm_term=score&utm_content=ad_read_description Rask Resources - All services: https://bit.ly/R-services - Financial Planning: https://bit.ly/R-plan - Invest with us: https://bit.ly/R-invest - Access Show Notes: https://bit.ly/R-notes - Ask a question: https://bit.ly/R-quest - We love feedback! https://raskau.typeform.com/to/ZbfHy6IP Follow us on social media - Instagram: https://www.instagram.com/rask.invest - TikTok: https://www.tiktok.com/@rask.invest DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg