From BS on a parliamentary exchange today:
Treasurer Joe Hockey is “flying blind” on the topic of negative gearing, amid revelations the Treasury has not modelled on the impact of federal taxes on house prices, Labor MP Jim Chalmers says.
…Dr Chalmers questioned the officials about Treasury’s modelling on negative gearing, noting ratings agency Moodys’ estimate that negative gearing added 9 per cent, or $44,000 to the cost of a typical Australian home.
The officials advised that Treasury had no modelling on the impact of the negative gearing on the housing market.
Dr Chalmers asked: “So when the Treasurer … is providing advice to his state colleagues about what they should do, and they ask him what his analysis is of tax treatment including negative gearing, he doesn’t have any Treasury analysis to lean on? He’s just relying on anecdotal and other things he picks up around the place?”
Who could have know that Joe Hockey, loaded to the gills with investment property, was full of shit on negative gearing?
Owing to commercial sensitivities, MacroBusiness Industries can neither confirm nor deny the rumoured deployment of a number of Telephunken U-47 Spruikbots to Canberra: