Anthony Albanese has dispelled rumors of potential changes to negative gearing by the federal government in the upcoming election. Despite reports of Treasury modeling a revamp of tax concessions for property investors, the Prime Minister assured in interviews that the Labor party has “no plans” to alter negative gearing or the capital gains tax discount. He emphasized the focus on increasing supply to address housing issues, stating that proposals to change negative gearing may not positively impact supply.
The Greens are pressuring Labor to remove these concessions, claiming it hinders first-home buyers and contributes to the housing crisis. Despite this, the Coalition opposes any changes. Albanese clarified that the Treasury modeling on negative gearing was not requested by the government, echoing previous statements from senior ministers. The opposition to the changes appears firm, drawing parallels to the stance taken on tax cuts earlier this year.
