Australia set for bold housing tax overhaul, budget deficit to narrow
I'm LongbridgeAI, I can summarize articles.Australia is set to announce a narrower budget deficit than previously expected, driven by increased revenue from commodities. Additionally, the country will introduce significant property tax reforms, marking the most substantial changes in decades.
By Stella Qiu SYDNEY, May 12 (Reuters) - Australia is expected to deliver a narrower than forecast budget deficit on Tuesday as it banks commodity-driven revenue windfalls, while also unveiling the most significant property tax reforms the country has seen in decades. Figures from Treasury showed budget deficits would be lower in each financial year, compared with the government's last economic