Labor eyes negative gearing reform

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By Leith van Onselen

After stealing a march on the Coalition yesterday over the issue of superannuation concessions, the Labor Opposition has now taken advantage of the community’s angst over negative gearing and has signalled that it may unwind the tax popular tax shelter.

In an address to the National Press Club yesterday, Shadow Treasurer, Chris Bowen, dipped his toe in the water on negative gearing noting that “I have said previously that it would be irresponsible to rule out going to the next election with changes to, for example, negative gearing … I have said our principle will be, one, do not disadvantage people who have made investments in good faith under current rules and, two, do not risk reducing the supply of new housing or, if possible, improve the situation with the supply of new housing.”

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.