Treasurer Jim Chalmers concedes he asked Treasury for negative gearing modelling
6 months ago

Treasurer Jim Chalmers concedes he asked Treasury for negative gearing modelling

ABC  

Jim Chalmers has conceded he tasked Treasury officials to look at options to scale back negative gearing, saying it was not "unusual" and again leaving the door open to revisiting the reforms. It came a day after Mr Albanese raised doubts about the merits of reforms to the tax breaks, citing work by the Property Council showing less generous tax arrangements would lead to less new housing. The Greens have issued several housing-related demands in exchange for their support on those bills, including calls for negative gearing and capital gains tax changes. Anthony Albanese has said any negative gearing changes must not constrain housing supply, but has pointed to research which says housing would become more affordable.

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History of this topic

Treasurer Jim Chalmers gives strongest indication yet that the government won't change negative gearing
5 months, 1 week ago

Treasurer Jim Chalmers gives strongest indication yet that the government won't change negative gearing

ABC  

Treasurer Jim Chalmers has given his strongest indication yet that the federal government is not planning to bring in changes to negative gearing, as the teal independents urge a rethink of Labor's "unrealistic" plan to build 1.2 million homes. Mr Chalmers said on Friday that people "shouldn't anticipate this is part of our housing policy, it's not", effectively assuring property …

More than 430,000 Australians could have owned their own home today – if not for negative gearing inaction from seven PMs
5 months, 3 weeks ago

More than 430,000 Australians could have owned their own home today – if not for negative gearing inaction from seven PMs

ABC  

Thirteen years ago at the tax summit called to discuss the Henry Tax Review, David Koch stopped discussion of negative gearing dead in its tracks. 13 billion reasons for change Negative gearing has become so common – in Australia, one in six taxpayers are landlords and 40 per cent of them negatively gear – that we no longer think of …

Negative gearing, capital gains reforms unlikely to lead to major fall in property prices, but rents could rise, experts say
5 months, 3 weeks ago

Negative gearing, capital gains reforms unlikely to lead to major fall in property prices, but rents could rise, experts say

ABC  

House prices would fall about 2 per cent if Labor went ahead with its previous election policy to change property tax breaks, modelling from the Grattan Institute shows. Brendan Coates says changes to negative gearing and the capital gains tax discount could save the federal budget billions of dollars annually. A University of Melbourne study by academics Yunho Cho, Shuyun …

Jim Chalmers tries to shut down shocking accusation about negative gearing leak with eight defiant words
5 months, 4 weeks ago

Jim Chalmers tries to shut down shocking accusation about negative gearing leak with eight defiant words

Daily Mail  

Treasurer Jim Chalmers has celebrated a second consecutive Budget surplus and dismissed a Labor insider's claims of a deliberate leak against Anthony Albanese as 'not really worth getting too worried about it'. The Treasurer's announcement comes after Cameron Milner, who was chief-of-staff to former Labor leader Bill Shorten, suggested Dr Chalmers had last week deliberately timed a review into negative …

48 hours of confusion on negative gearing this week has damaged Labor's brand
6 months ago

48 hours of confusion on negative gearing this week has damaged Labor's brand

ABC  

Whether accidental lab leak or deliberate but decidedly cack-handed kite-flying exercise, the government's handling of its negative gearing push has damaged the Labor brand. Inside the politics surrounding Labor's hypothetical negative gearing reforms Photo shows Anthony Albanese looks slightly cross while giving a press conference. Until Labor clears up whether it will or won't take negative gearing and capital gains …

While Labor decides whether to take negative gearing reforms to the election, questions will continue growing
6 months ago

While Labor decides whether to take negative gearing reforms to the election, questions will continue growing

ABC  

A week ago, it was a "not terribly clever" question. Negative gearing and capital gains tax rules have sat in Labor's bottom drawer since the party's bruising 2019 election defeat. In the lead-up to the last election, Labor vowed to keep both the Coalition's Stage 3 tax cuts and "maintain the existing regimes for negative gearing and capital gains tax". …

The PM took the podium and dangled possible negative gearing changes, sparking a whiplash-inducing debate
6 months ago

The PM took the podium and dangled possible negative gearing changes, sparking a whiplash-inducing debate

ABC  

Welcome back to your weekly federal politics update, where political correspondent Jake Evans gets you up to speed on the happenings from Parliament House. Albanese "valued" Treasury looking at a range of proposals, though negative gearing was not the government's housing policy, and not their focus. And he dusted off an old Property Council report once used as a weapon …

Peter Dutton makes Labor's case that tax breaks for landlords ought to be restricted to those who build homes
10 months ago

Peter Dutton makes Labor's case that tax breaks for landlords ought to be restricted to those who build homes

ABC  

Opposition Leader Peter Dutton might have done us a favour. Foreign investors outbid residents It was, Dutton said, pretty unfair to be at an auction "bidding against somebody who has very deep pockets and somebody who's not an Australian citizen". Peter Dutton promised to stop foreigners buying existing Australian homes in his budget reply speech last week. Labor had a …

Greens demand negative gearing and capital gains tax phase out in 'help-to-buy' negotiations
1 year, 1 month ago

Greens demand negative gearing and capital gains tax phase out in 'help-to-buy' negotiations

ABC  

In short: The Greens will support the government's "help-to-buy" housing scheme in exchange for restrictions to negative gearing and capital gains concessions. The Greens will support the government's "help-to-buy" housing scheme in exchange for restrictions to negative gearing and capital gains concessions. "If we were able to secure phasing out negative gearing and capital gains tax concessions, some form of …

Treasurer brushes off suggestions broken promise on tax cuts opens door to negative gearing changes
1 year, 1 month ago

Treasurer brushes off suggestions broken promise on tax cuts opens door to negative gearing changes

ABC  

The treasurer has brushed off suggestions the government may scrap the controversial negative gearing scheme after proving willing to break its promise not to touch tax cuts due to take effect in July. Key points: Jim Chalmers says the government is not considering changes to negative gearing Labor took a policy to wind back negative gearing to the 2019 election …

Scott Morrison expressed interest in overhauling negative gearing, according to official documents
5 years, 10 months ago

Scott Morrison expressed interest in overhauling negative gearing, according to official documents

ABC  

Prime Minister Scott Morrison expressed interest in overhauling housing tax concessions, including negative gearing, just days into his time as treasurer, according to official documents. Key points: Documents obtained under FOI show the Commonwealth in 2015 was "willing to consider broader tax reform", including on negative gearing Since 2016, the Coalition has used negative gearing to attack the Labor Party …

Labor to limit negative gearing concessions to new properties from January 1
5 years, 11 months ago

Labor to limit negative gearing concessions to new properties from January 1

ABC  

A federal Labor government would limit negative gearing concessions to new properties from January 1 next year, earlier than many analysts and commentators predicted. Key points: Federal Labor argues negative gearing concessions are too generous The change would stop new investors from deducting rental losses from their income tax It would raise an estimated $2.9 billion over four years Shadow …

Negative gearing changes 'could tip Australia into recession', warns John Symond
6 years, 3 months ago

Negative gearing changes 'could tip Australia into recession', warns John Symond

ABC  

A number of housing industry insiders have issued a warning about curbing negative gearing, with mortgage company boss "Aussie John" Symond saying "it could tip Australia into recession". Key points: Labor's rule change would not affect people who are currently negatively gearing properties The UBS's chief economist said he was worried about the effect the change would have on the …

Labor pounces on Scott Morrison's negative gearing 'lie' after release of secret briefing documents
7 years, 2 months ago

Labor pounces on Scott Morrison's negative gearing 'lie' after release of secret briefing documents

ABC  

Federal Labor's negative gearing overhaul would likely have a "small" impact on home values, official documents reveal, contradicting Government claims the policy would "smash" Australia's housing market. The previously confidential advice to Treasurer Scott Morrison from his own department said the Opposition's plan might cause "some downward pressure" and could have "a relatively modest downward impact" on prices. Treasurer Scott …

Scott Morrison reaffirms Coalition's opposition to changing negative gearing tax concessions
7 years, 11 months ago

Scott Morrison reaffirms Coalition's opposition to changing negative gearing tax concessions

ABC  

No changes to negative gearing and a drive to increase private investment in the supply of housing are the key to making the market more affordable, Treasurer Scott Morrison says. Key points: Australians experiencing rental stress, more homeless Australians "We don't need to spend more provided we spend it better," Treasurer says Negative gearing was a key battle in the …

Negative gearing reform 'essential' to improve housing affordability: Saul Eslake
7 years, 11 months ago

Negative gearing reform 'essential' to improve housing affordability: Saul Eslake

ABC  

Scaling back negative gearing or capital gains tax concessions for property investment is "essential" to improve housing affordability for first home buyers, independent economist Saul Eslake has argued. While applauding some of the housing affordability measures outlined by Treasurer Scott Morrison in his speech to the Australian Housing and Urban Research Institute this morning, Mr Eslake said cutting back negative …

Labor demands Malcolm Turnbull explain negative gearing comments
7 years, 11 months ago

Labor demands Malcolm Turnbull explain negative gearing comments

ABC  

Federal Labor is demanding Prime Minister Malcolm Turnbull explain comments he made to Parliament last year about negative gearing. Unreleased documents could paint the full picture Using the Freedom of Information Act, the ABC sought Treasury material produced between February 11 and 19 last year about the impact of negative gearing or capital gains tax concessions on housing. Key dates: …

Tax measures too broad to tackle debt and housing crisis, Scott Morrison says
7 years, 11 months ago

Tax measures too broad to tackle debt and housing crisis, Scott Morrison says

ABC  

Key points: Treasurer Scott Morrison says the economy is not at risk of housing shock On potential changes to the capital gains tax Mr Morrison criticizes Labor's 'sledgehammer' tactics RBA Governor Philip Lowe said there was an unhealthy investor appetite for interest-only home loans Treasurer Scott Morrison says the head of the Reserve Bank was not criticising negative gearing when …

Election 2016: Government maintains negative gearing stance despite Treasury documents
8 years, 9 months ago

Election 2016: Government maintains negative gearing stance despite Treasury documents

ABC  

The Federal Government has argued negative gearing largely benefits average Australians despite being advised otherwise months ago, a document obtained by the ABC reveals. Key points: FOI report shows more than half of negative gearing tax benefits go to top 20 per cent of incomes Bottom 20 per cent of earners getting 5 per cent of benefits Modelling predicts negative …

Regional voters have their say on negative gearing
8 years, 10 months ago

Regional voters have their say on negative gearing

ABC  

Labor's proposed changes to negative gearing have received a mixed response from voters in regional Australia. "Negative gearing for someone who is a worker like myself, is just a play thing for rich people," he said. "We are also going to see radical changes not just for first home buyers but also renters because investors don't have that subsidy they …

Election 2016: Real estate industry unleashes campaign against Labor's negative gearing policy
8 years, 10 months ago

Election 2016: Real estate industry unleashes campaign against Labor's negative gearing policy

ABC  

The Federal Opposition insists it is not concerned about the real estate industry's threat to unleash a campaign against Labor's negative gearing policy. Key points: Labor says negative gearing policy will help first home buyers Real estate industry says it will send rent prices up Labor questions motives of industry, says they have no evidence Property Council say negative gearing …

Malcolm Turnbull pens blog post take-down of report on negative gearing savings
8 years, 11 months ago

Malcolm Turnbull pens blog post take-down of report on negative gearing savings

ABC  

Prime Minister Malcolm Turnbull has written a take-down of an independent report recommending changes to negative gearing, arguing the document is littered with inaccuracies, unsupported claims and direct contradictions. The Government has ruled out changes, while Labor's election policy is to restrict negative gearing to new homes from July next year, with a projected saving of $32.1 billion over a …

Negative gearing: Tax deduction's removal 'would boost Commonwealth revenue by $5b annually'
8 years, 11 months ago

Negative gearing: Tax deduction's removal 'would boost Commonwealth revenue by $5b annually'

ABC  

The Federal Government could save more than $5 billion per year through changes to negative gearing, according to research released by the Grattan Institute. Key points: Current negative gearing arrangements push up house prices, Grattan Institute says Says new housing investment losses should not be deducted from wage income Says restricting negative gearing to new properties "makes it harder for …

Negative gearing: Labor will 'punish mum and dad investors' with changes, Government says
8 years, 11 months ago

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

ABC  

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 …

Negative gearing causing house prices in Sydney and Melbourne to skyrocket, report says
9 years ago

Negative gearing causing house prices in Sydney and Melbourne to skyrocket, report says

ABC  

A new report on the housing affordability crisis in Sydney and Melbourne calls for the Federal Government to urgently rethink its support of negative gearing. Key points: Report reveals the record-high housing prices in Sydney and Melbourne would lead to social problems Report's author says governments have created the conditions for major concessions for investors REIQ says changing negative gearing …

Negative gearing changes good for economy if home prices fall: David Murray
9 years ago

Negative gearing changes good for economy if home prices fall: David Murray

ABC  

Former banker and chair of the Financial Systems Inquiry David Murray says Labor's plan to restrict negative gearing to new housing investment will "distort" the market and possibly lead to a fall in prices for established property. Prime Minister Turnbull and his Treasurer Scott Morrison had reportedly been looking at a plan that would impose a $20,000 cap on annual …

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