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Chalmers Manifesto: Labor’s 2026 Budget Hands Workers Crumbs While Slipping in a ‘Widow’s Tax’ and Super Grab

Treasurer Jim Chalmers’ Budget offers minor tax tweaks while slapping super balances over $3 million with higher taxes and restricting negative gearing to new builds. Jointly owned investment properties now lose their exemptions if a spouse dies or the couple divorces, a backdoor death tax that directly contradicts Labor’s repeated denials. Chalmers calls it reform. It is punishment dressed as fairness.