Negative Gearing, AUKUS Billions and Gas Giants Laughing All The Way | The West Report

Jim Chalmers’ 2026 Budget has landed and, despite the pearl clutching from the Rich Boomers Lobby and Murdoch press, the sky has not fallen in. Westy looks at the modest but meaningful move on negative gearing and capital gains tax, the failure to properly tax Australia’s gas exporters, the ever expanding AUKUS gravy train, Budget deficits, NDIS cuts, fossil fuel subsidies, private health insurance rorts and the latest on BHP’s lawsuit against Michael West Media. The Budget takes a small step toward rebalancing an economy tilted toward investors and asset owners, but the biggest rort in the country remains untouched, foreign gas giants making billions from Australian resources while paying crumbs back to the public. Support us ❤️ https://www.patreon.com/thewestreport Our Journalism 📰 https://michaelwest.com.au Merch 👕 https://lonelykidsclub.com/collections/michael-west Linktree 🌐 https://linktr.ee/michaelwestmedia.com.au ⸻ Articles mentioned: Chalmers’ budget. From landlord paradise to clever country? https://michaelwest.com.au/chalmers-budget-from-landlord-paradise-to-clever-country/ Scary alert! Like negative gearing? Buy shares! https://michaelwest.com.au/scaremongers-alert-like-negative-gearing-buy-shares/ Tax relief for workers and pain for investors in budget https://michaelwest.com.au/tax-relief-for-workers-and-pain-for-investors-in-budget/ Supercharged inequality: rich investors stifle budget https://michaelwest.com.au/supercharged-inequality-rich-investors-stifle-budget/ Who benefits from negative gearing? Hint: probably not you. https://michaelwest.com.au/who-benefits-from-negative-gearing-cgt-pbo/ Negative Gearing explained https://michaelwest.com.au/negative-gearing-explained/ ‘Playing us for fools’: foreign gains fuel gas tax push https://michaelwest.com.au/playing-us-for-fools-foreign-gains-fuel-gas-tax-push/ Small beer: revenue from gas export tax set to plummet https://michaelwest.com.au/small-beer-revenue-from-gas-export-tax-set-to-plummet/ Time to make ’em pay! The big bludgers are the corporate tax dodgers https://michaelwest.com.au/taxdata-corporate-tax-dodgers-revealed/ The Verdict: some progress on the looming multinational tax dodging reforms but “enormous” task ahead https://michaelwest.com.au/progress-on-looming-multinational-tax-dodging-reforms-but-enormous-task-ahead/ Corporate tax avoidance. Who helps fund Australia, and who doesn’t? https://michaelwest.com.au/corporate-tax-avoidance-who-helps-fund-australia-and-who-doesnt/ Budget 2026 coverage, Michael West Media https://michaelwest.com.au ⸻ Chapters 00:00 Budget 2026 01:17 Negative gearing 03:44 Gas tax failure 05:16 AUKUS billions 06:40 Trump and Netanyahu war 07:41 NDIS cuts 08:14 LNG royalties 10:17 Royal Commission 11:07 Updates