Property locusts buzz new negative gearing attack

By Leith van Onselen

ABC’s The Business aired a segment Friday night on Labor’s negative gearing and capital gains tax (CGT) reforms, which featured several property parasites warning of a catastrophe if Labor’s policies are enacted.

First, there was the Master Builders Australia (MBA) CEO claiming, yet again, that new home construction would be hit hard:

“It doesn’t matter whether you put grandfathering in or not, you are testing new construction and new jobs and employment as a consequence of that, it still shows a significant decline in property investment, which means an overall decline in construction and employment as a consequence”.

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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.