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The Federal Labor Government’s 2026-27 Budget tax reform package represents the most sweeping overhaul of Australia’s investment tax landscape in nearly three decades. By winding back the traditional pillars of wealth creation – specifically the 50 per cent Capital Gains Tax (CGT) discount and negative gearing on established residential property – the government has fundamentally altered the math of investing.

While today’s major policy concessions (including exemptions for testamentary trusts and a step back from sweeping ministerial discretionary powers) provide some targeted relief, the core framework remains intact.

The clear takeaway for investors is a systemic structural shift: the traditional focus on heavily leveraged capital growth has been severely compromised, making high-yielding income generation far more appealing. continue…

by Roger Montgomery Posted in Aura Group, Economics, Editor's Pick, Feature Article, Insightful Insights, Investing Education, Popular, Property.

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Proposed changes to negative gearing, capital gains tax (CGT) and new Australian Taxation Office (ATO) rules for holiday homes could significantly alter the economics of property investing in Australia. By reducing the tax advantages associated with property ownership, the changes may weaken demand across several investor groups and influence property prices over time.

Drawing on supply and demand principles, this whitepaper paper examines how investors, rentvesters, property flippers, holiday homeowners and discretionary trusts could be affected. It also explores the potential impact on borrowing capacity, resale demand and the attractiveness of established residential property compared with new builds. continue…

by Roger Montgomery Posted in Aura Group, Economics, Editor's Pick, Market commentary, Popular, Property, Whitepapers.

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What 30 June means for investors in managed funds

While many people this time of year are focusing on winter holidays and tax returns, investors in actively managed equity funds like those offered by Montgomery are likely watching for their distributions.

This article explains what a managed fund distribution is, what drives it, how it impacts your investment, and answers a few common questions we receive at this time of year. continue…

by Rhodri Taylor Posted in Popular.

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I joined ABC Weekend Breakfast to discuss the record-breaking SpaceX Initial Public Offering (IPO), which briefly pushed Elon Musk’s wealth beyond US$1 trillion and valued the company at more than US$2 trillion. We explored what drove the strong debut, why much of SpaceX’s revenue now comes from its AI and data centre businesses rather than its space operations, and how NASDAQ’s decision to fast-track the stock into its index could force ETFs and index funds to buy shares. We also discussed the potential impact of insider selling in the months ahead and what the IPO could mean for everyday investors. continue…

by Roger Montgomery Posted in Economics, Global markets, Market commentary, Popular, TV Appearances.

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The defining irony of today’s stock market has got to be the yawning chasm between asset prices and their intrinsic values. As equity indices scale ever higher peaks, and as hyper-parabolic Price-to-Earnings (P/E) and Price-to-Sales (P/S) ratios are normalised, the underlying truths don’t seem to have changed. Eventually even this bubble must bust.

U.S.-based senior economist at the Centre for Economic and Policy Research (CEPR) in Washington, DC, and author of the ‘AI Bubble Monitor’, and U.S.-based antitrust and policy analyst Matt Stoller reckon this dynamic can be attributed to something Stoller calls the “Number Go Up Rule”– a systematic rewiring of institutional incentives to ensure corporate valuations ascend at all costs, and frequently favouring speculative mania over fundamentally productive or socially additive enterprises. continue…

by Roger Montgomery Posted in Economics, Editor's Pick, Global markets, Insightful Insights, Investing Education, Market commentary, Popular.

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Bullish investors believe AI is a new, infinite fourth factor of a nation’s production and wealth creation. In the past, we had labour, capital and land as production inputs, all of which were, of course, finite. Land provided the raw materials, labour the muscle and the mind to transform them, and capital was the tool.

Enter AI. The transformative aspect of this fourth ingredient is that, unlike the physical limitations of land or the finite hours of the human workforce, data is a resource that is functionally unlimited. And, importantly, it’s the only factor of production that actually grows more abundant the more we use it.

This article was first published in The Australian on 27 May 2026.

by Roger Montgomery Posted in Editor's Pick, Global markets, In the Press, Insightful Insights, Investing Education, Market commentary, Market Valuation, Popular, Technology & Telecommunications.

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The 2026 Federal Budget has landed with some significant implications for investors.
I discuss the key economic indicators and the tax changes that are set to reshape the investment landscape.

Economy

The starting point is to expect higher global inflation and lower growth with the scale of impact dependent on the length and severity of the U.S./Iran war.

Growth in Australia is expected to slow to 1.75 per cent in 2026/2027.

Real wages are expected to go backwards again, which means living standards are expected to decline. continue…

by David Buckland Posted in Economics, Editor's Pick, Feature Article, Financial Services, Insightful Insights, Investing Education, Market commentary, Popular.

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How to maximise your savings with higher-yield funds with competitive returns and risk.

Looking to make your money work harder this year? Whether you’re looking to fund a better lifestyle, build your nest egg or simply grow some savings, you may want to read this article.

For many retirees – and particularly people who may be navigating their finances independently for the first time – the stock market can feel less like an ‘opportunity’, and more like a rollercoaster you never asked to board. When you are at a stage in life where preserving what you’ve built is as important as growing it, the daily ups and downs of the stock market can keep anyone awake at night.

The traditional “safe” bets, like term deposits, often fail to keep pace with the lifestyle you’ve worked so hard to earn. So, where do you turn when you want the yield of a high-performer but the stability of a fortress? continue…

by Roger Montgomery Posted in Aura Group, Insightful Insights, Investing Education, Popular.

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Many believe the era of easy investing is over and after several strong years in equity markets, opportunities are harder to find and valuations are less forgiving. So, with traditional 60/40 portfolios under pressure, investors are looking for diversification, income and resilience.

In this exclusive Ausbiz event, I joined Nadine Blayney for an in-depth discussion on equity alternatives and the strategies designed to help protect and grow your wealth.

We explored

• The importance of rebalancing in the current market environment
• How to think about diversification, income and resilience
• How private credit works – and why investors can use it for a reliable income stream
• High-frequency trading and arbitrage funds: historically the domain of proprietary trading firms and institutions, now accessible to investors
• Key risks and what to look for when assessing these types of strategies

continue…

by Roger Montgomery Posted in Aura Group, Digital Asset Funds Management, Investing Education, Market commentary, Popular, TV Appearances.

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As we turn the page on 2025, it is a useful time to step back and reflect on what shaped markets over the year just passed. In this article, I review the key themes that influenced global equities, interest rates, commodities, and currencies, highlighting where investors were rewarded, where conditions became more challenging, and what these developments may mean as we look ahead. continue…

by David Buckland Posted in Insightful Insights, Market commentary, Market Valuation, Popular.

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