Sunrise host David Koch grills Treasurer Jim Chalmers over further tax changes on homes as Labor deals with superannuation fallout

Treasurer Jim Chalmers has copped a grilling on Sunrise after refusing to rule out further tax changes on family homes. 

In a fiery interview on the breakfast show on Wednesday, Mr Chalmers was asked several times if the government will introduce a capital gains tax on family homes. 

Sunrise host David ‘Kochie’ Koch fired up at the Treasurer who dodged giving a firm answer as Labor come under fire for breaking a key election promise after legislating changes to superannuation. 

“You’re not being trusted at the moment, you’re starting to raid our superannuation. What’s next? Can you guarantee no change ever to the capital gains tax exemption on the family home?,” Kochie asked. 

In defence to the changes, Mr Chalmers responded by saying: “We put out yesterday a whole bunch of numbers about all of the tax breaks in the system.”

“By announcing our intentions on superannuation yesterday I think that demonstrated our priority when it comes to these tax concessions,” he added. 

“We haven’t been contemplating changes to that one you (Kochie) identified.” 

Kochie then jumped in slamming the Treasurer for using a “weasel word” like “not contemplating”. 

“Well not intentionally Kochie, I’m trying to be upfront with your viewers,” Mr Chalmers hit back. 

However, the Sunrise host continued to fire up up over the Treasurer’s responses.

“So just say ‘yes you absolutely guarentee no change ever to the capital tax gains exemptions on our family homes’. You can just say yes,” Kochie declared. 

But Chalmers refused to hand over the answer Kochie was looking for. 

“Well I can say to your viewers we haven’t been focused on it, we haven’t been working on it, its not something we’ve been contemplating,” he said. 

Kochie interrupted again, pushing the Treasurer to “just say yes” before a stunned Chalmers argued he couldn’t commit to changes of future governments. 

However minutes later, Prime Minister Anthony Albanese spoke to ABC radio in an attempt to clear up the mess. 

Despite Chalmers refusing to rule further tax changes on property assets, Mr Albanese declared Labor weren’t going to “impact” family homes as it was a “bad idea”. 

“We are not going to impact the family home, full stop, exclamation mark because it’s a bad idea,” he told the station on Wednesday. 

Australians have been exempt from paying the capital gains tax on their principle place of residence, or family home they own or live in, since Bob Hawke’s Labor government introduced it in September of 1985.

After a week of backlash from all sides of politics, Labor on Tuesday announced that super funds from 2025-26 valued at more than $3 million will not benefit from generous tax concessions on earnings, changes which the government said will affect just 0.5 per cent of the population.

Earnings from those funds will be taxed double, or 30 per cent, than the existing level in what the government says will generate about $2 billion.

Despite pledging not to make changes to the $3 trillion retirement scheme before the May 2022 election, Mr Chalmers said the move is important in the “context” of the budget.

“I think it’s a sensible change, a common sense change, a modest change, but an important change in the context of a budget which has a trillion dollars of debt,” he said.

Under the existing system all earnings from super funds are taxed at 15 per cent. This will remain for those funds with balances less than $3 million.

The government has said the new changes will only affect around 80,000 people and argued those Australians will “continue to benefit” from the lower tax concession compared to the top marginal income rate.

Sky News Australia host Peter Stefanovic also pressed the Treasurer on whether he and Mr Albanese can be trusted not to break other pledges.

“I said that there wouldn’t be major changes, and this is a modest change,” Mr Chalmers responded.

Stefanovic quickly interrupted, saying “a change is a change”.

“I’m not going to quibble over the language of it,” Mr Chalmers hit back.

“The point I am making is it’s not a major change, I don’t think it should be an especially controversial change.”