Amid all the scaremongering from our Property Council Prime Minister, Scott Morrison, along with property industry vested interests, Labor shadow treasurer, Chris Bowen, has doubled-down on the party’s proposed reforms to negative gearing and the capital gains tax (CGT) discount, stating a falling housing market is an ideal time to implement reform. From The AFR:
“Clearly APRA’s macro-prudential measures have had the effect of seeing less investors and a cooling of the property market, particularly in Sydney and Melbourne… These are once in a generation reforms to housing tax concessions whose time has come”…
