Diane Brown, the Australian Treasury’s deputy secretary responsible for tax policy, is stepping down from her post.
Her resignation follows the implementation of the nation’s most significant and contentious tax reforms in a quarter-century, which fundamentally altered the landscape for capital gains tax and negative gearing.
Brown’s exit comes as Australian investors continue to reconfigure portfolios in response to the federal government’s 2026 budget proposals.
The policy changes have significantly reduced tax incentives for established investment properties, prompting a rapid shift in asset allocation strategies among domestic and international investors.
The departure of such a senior official underscores the magnitude of the policy overhaul.
Brown played a central role in steering the technical and legislative aspects of the reforms, which have been widely debated for their impact on the property market and broader economic stability.