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Property Buzz: Is Australia heading for a French-style debt crisis?

31 OCT 2026 • By Emilie Lauer • 2 min read • Investor Strategy

France is already paying billions to service its debt. Australia could be heading down the same path, with only a narrow window to turn things around.

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On Property Buzz, Phil Tarrant and Liam Garman compare Australia’s fiscal position with France’s, examining rising debt costs, bond yields, tax settings, and public sector growth.

 
 

Garman warns Australia could be only a few years behind as government spending and debt servicing put increasing pressure on the economy.

The pair revisit France’s failed wealth tax experiment and Greece’s experience with spending cuts, before examining Australia’s own warning signs, including weaker employment, falling stamp duty revenue, and fewer capital gains to tax.

They also compare personal, company, and capital gains tax settings, and debate whether further property tax changes could push investors out of the market.

Tarrant is sharply critical of the federal government and the ATO, predicting a royal commission and further political battles over property taxes before the next election.

The discussion also covers the impact of the SMSF residential property ban on development, rising construction costs, and the risks facing first home buyers caught in falling apartment markets.

To get in involved, leave questions for Phil and Liam, or simply share videos or memes - join the Whatsapp group here.

If you like this episode, show your support by rating us or leaving a review on Apple Podcasts and by following Smart Property Investment on social media: Facebook, X and LinkedIn. If you would like to get in touch with our team, email [email protected] for more insights, or hear your voice on the show by recording a question below.

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RELATED TERMS

Debt
Debt refers to the amount of money borrowed from a creditor with the intention to pay back at a specified date.
Property
Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.
Emilie Lauer

Emilie Lauer

AUTHOR

Originally from France, Emilie has been calling Sydney home for almost a decade. She began her career in a small French radio station before moving to community radio in Sydney’s Paddington, hosting and producing the drive show and covering local issues. She has also written for specialised magazines in the education sector, including The Australian. At Momentum, Emilie is interested in real estate and property investment, with a soft spot for first property buyers. Get in touch [email protected]

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