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Treasury analysis of Australian Taxation Office (ATO) data from 2015-16 suggests that people with taxable incomes of less than $80,000 a year would be hardest hit by Labor’s proposed negative gearing reforms. From The Australian:
Almost two-thirds of all investors who negatively geared property were on taxable incomes of less than $80,000 a year, according to new tax office data that suggests Labor’s policy to slash the widely used practice would hit more lower-income earners with only one investment property…
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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.