Labor to scale back negative gearing despite housing downturn

Obvious Labor will fiddleand delay its legislation to duck the issue. However, will probably spend all the estimated receipts in its first Budget! Par for the course with ALP. auspol aupol negativegearing Budget

When your whole economy is structured around housing you lose sight of the need for value adding manufacturing to be a significant part of the future maybe a plant to make solar panels wind turbines all sorts can be made in Australia if the right government attitude prevails

Bad idea.theres more involved than just the house prices. That's y I say we need intelligent people in the govt not dumb ones

So does this mean your journalist is concerned about the value of his property? What is the significance of 'despite' in this article? Does it imply that the ABC has accepted JoshFrydenberg's argument, despite it being loopy? Try to remember your 'balance'.

Labor will shot itself in the foot pursuing this policy as they do not understand the impact on the whole Australian economy. It's a vicious circle - scrap NG affects loss of jobs in the property & construction sector and all affiliated support industry and the list expands on...

You mean negative geaers are getting caught out in housing downturn .

Average house prices are the most expensive in the world except Hong Kong. The correction the Market needs has a long way to go. NG changes will get prices to where they belong sooner than without change. When they're affordable. Price declines will stop.

The Oz housing market will go belly up. Biggest single risk to all Australiansvand downflow affects are unknown.

Pride 😂

Just so you know this is the market factoring in AustralianLabor proposed changes. Why would you invest know when labor looks a shoe in to win. Grandfathering doesn’t cover the resale value of property that will not be eligible for future investors.

Monster_Dome how will Labor deal with the ACT market where it is the ACT govt setting the prices and refuse to budget on extremely high prices for land.

Another sensationalist article. House prices were already ahead of where they should have been. There just coming back to fair value. If middle Australia needs the extra little boost that NG provides to be able to afford an investment property then in reality they carnt afford it

It will only work if they abolish stamp duty also.

chaudave billshortenmp When abolishing negative gearing then also reduce immigration

I can’t wait for labor so I can get a sweet pension,make more migrant friends and buy lots of cheap houses. It’s gonna be utopia

If labor doesn't backflip on this now conditions have changed they will lose the election over this, quickly address it.

74Barbara Good get rid of NG

This is news from the future right? How do you know their will be a housing price decline when negative gearing is scaled back? This is as trashy as SkyNewsAust

And when the investors flee the scene and renters can’t find a house what will happen then. Oh yes labor will call for more social housing to be built. It’s all about supply and demand folks. It happens before and will again.

Without incentives for investors in housing for renters.....who is bridging the gap? I can't see the logic.

Only on new homes Only on new homes Labor NegGear Others stay the same Why don’t you listen to Bowenchris billshortenmp instead of the liars Liberals

What is so wrong with ridiculously inflated house prices coming down?

Great. I hope house prices do drop. I then might be able to afford one.

So what, opens up a new market

neg gearing is d most outrageous tax rort Bankers& execs& MPs r on neg gearing in a big way Penthouse on d Gold Coast &Hamilton island + many prop It is costing taxpayers $8bils/yr

Labor is pandering to 40 year old educated bludgers with good jobs who’ve made a choice to live as 25 year olds their entire lives. Renting inner city, travel, restaurants...They’ve all woken up and realised the train has left the station. Cry me a river. ALP will lose

Backed all the way by ABC, of course.

Yes, and banks are the reason along with the regulator which had placed a restriction on how much housing investment borrowing was allowed - very recently lifted. What you are contending effectively is that without investors and tax breaks housing would be more affordable. Right?

Best time o do it. It'll prevent the next investor-driven housing market bubble.

Labor leadership are Fabian Socialists. Clandestine, sneaky manipulators creating social divisions and increasing dependency on government. Their loyality belongs to UN global Socialism, not to Australian national identity.

FFS if you dont understand the story you cant report on it; this is LNP drivel comment and has nothing to do with the truth, facts or keeping to the requirements of the abc charter. Who is running the show there? The Dog fancier from foxtel?

Labor/LNP need to cap the amount of properties that can be NG’d. Still allow this mechanism for everyday people who want to invest for their retirement. Scrapping it all together is a knee jerk response.

Great news. your so-called 'experts' for this article ALL have conflicts of interest on the matter. How about interviewing some actual experts? From outside the bubble? Try the IMF for starters... they have been warning about our household debt levels for years.

the market will crash further with this policy.... possible another GFC in the horizon

Maybe then house prices can be driven up by homeowners as opposed to investors that don't even use the bloody houses..

Forget about grandfathering. Get rid of it altogether

What a pity

insydney

Good

one corrupt rich feeding loophole down now 'trusts' please. Make the rich pay their share.

And our ABC is committed to Labour, no matter what.

The hyper-commodification of a core human need. What a great idea? What could possibly go wrong?

Good. Make this policy heard aroundbrhe nation.

Good!

Chicken little, the sky is falling lol 😂

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Frydenberg rubbishes Labor's capital gains tax changes | Sky News AustraliaTreasurer Josh Frydenberg has rubbished Labor’s capital gains tax changes as ‘false prophecies’. \n\nMr Frydenberg says he will 'expose the Labor Party for its false prophecies and the detrimental and terrible impact that $200 billion of new taxes will have across the economy’. \n\nFigures from the Australian National University show the Labor Party could be stung by its housing policies at this year’s federal election. \n\n\n\n\n\n\n \n ScottMorrisonMP Wages will increase under Labor. The coalition has suppressed wage growth for 5 years so cannot lecture us about what we cannot afford. ScottMorrisonMP Fear. Getting Rattled. ScottMorrisonMP Labor have demonstrated excellent economic management in the past.....
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Labor's negative gearing plan 'disastrous' for economy: Frydenberg | Sky News AustraliaFULL MEDIA CONFERENCE: Treasurer Josh Frydenberg says data from property group CoreLogic is a ‘warning against’ Labor’s negative gearing policy.\n\nCoreLogic's figures show Sydney house and apartment values are down 11.1 per cent from its July 2017 peak, while Melbourne’s property market has slowed 7.2 per cent since it peaked in November 2017.\n\nLabor plans to restrict negative gearing to new homes and reduce capital gains tax concessions if it wins the next federal election, claiming the policy will raise $32 billion over the next decade.\n\nTreasurer Frydenberg says Labor’s policy is ‘ill-suited to the times’ with house prices falling.\n\nHe says if Labor implement its policy, it will be ‘disastrous’ for the broader economy.\n PeterGleeson63 billshortenmp 😂😂😂😂😂😂😂😂 PeterGleeson63 billshortenmp Bill appears to condone domestic violence. Waiting for him to condemn the CFMEU ohthehypocrisy PeterGleeson63 billshortenmp Don’t underestimate the boats issue. When we are closer to the date people will give both parties more serious thought
Source: SkyNewsAust - 🏆 7. / 78 Read more »