2330 GMT - Australian property's appeal as an investment has been dented by the federal government's tax changes, including to negative gearing. UBS assesses what asset classes could benefit as investors shop around for alternatives to residential homes. "Investors targeting growth assets with a bias for elevated leverage will now find greater appeal in replicating a negatively geared strategy in other asset classes which offer growth," strategist Nic Guesnon says. UBS think flows into fixed income and higher dividend yielding listed equities, including franking credits, should increase. Other structured financial products like annuities and insurance bonds, which offer a flat 30% tax rate, should also benefit, UBS says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 31, 2026 19:30 ET (23:30 GMT)

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