Negative gearing: Labor will 'punish mum and dad investors' with changes, Government says

The Federal Government is using its decision to leave negative gearing untouched to launch a campaign accusing Labor of "wanting to punish mum and dad investors". Key points: Coalition to leave existing negative gearing rules in place Labor proposal to negatively gear only new properties criticised by Government Think-tank says negative gearing tax benefits overwhelmingly favour the rich The Opposition's plan would mean that from July next year, investors could only negatively gear new properties. Once Prime Minister Malcolm Turnbull announced there would be no change to the Coalition's negative gearing policy a social media campaign sprang up, including the message "Labor wants to punish mum and dad investors". Greens housing spokesman Scott Ludlam said the Government's decision to make no changes to negative gearing meant investors would get an advantage and potential first homebuyers would be locked out.