The Albanese government’s recent federal budget introduces significant reforms to property tax concessions, particularly targeting negative gearing and capital gains tax (CGT) for new investment properties. Starting from July 2027, properties purchased after 7.30pm on budget night will no longer benefit from negative gearing, with the CGT discount also being phased out. These measures aim to reduce investor demand and are projected to assist an additional 75,000 Australians in becoming homeowners over the next decade. However, many long-term renters, such as Alyssa Shaw and Koushalya Pereiaslov, express skepticism about the reforms' effectiveness in addressing their housing challenges. Shaw, who has moved 25 times in 15 years, highlights the disparity between her stagnant income and escalating rent costs, which have risen by 44% over five years. Experts like Professor Wendy Stone from Swinburne University acknowledge the budget's bold steps but emphasize that it does not significantly change the landscape for long-term renters. The Coalition has indicated intentions to repeal these reforms if they regain power, while the Greens criticize the measures for perpetuating existing inequalities in housing.