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 investors that there will be no changes to the controversial tax arrangements. "I would argue that there is a growing national consensus on negative gearing and capital gains reform," Greens housing spokesperson Max Chandler-Mather told the ABC. Government under pressure over housing target The treasurer's comments on negative gearing come amid fresh pressure from the teal independents, who have written to housing minister Clare O'Neil arguing that the government's target of 1.2 million new homes was unrealistic.

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History of this topic

Treasurer aims to bring home building into the 21st century with new fund for states
4 months, 1 week ago

Treasurer aims to bring home building into the 21st century with new fund for states

ABC  

State governments will be rewarded if they clear away red tape to unlock more modular homes, under a new federal government fund to be announced by Treasurer Jim Chalmers today. Labor's tax break for housing investors hits Senate snag Photo shows Building covered in scaffolding, construction, crane The federal government proposal is stranded in the Senate after the Coalition and …

Treasurer Jim Chalmers says government has work to do on cost of living measures
4 months, 2 weeks ago

Treasurer Jim Chalmers says government has work to do on cost of living measures

ABC  

Treasurer Jim Chalmers says the government knows there is still a lot of ground to make up when it comes to cost of living relief for Australians despite having released a raft of packages to ease the burden of inflation. Mr Chalmers's admission on 7.30 came one day after Opposition Leader Peter Dutton borrowed a line from US president-elect Donald …

Coalition bets on detached homes in the outer suburbs as they square off against Labor on housing
5 months ago

Coalition bets on detached homes in the outer suburbs as they square off against Labor on housing

ABC  

Coalition strategists say Peter Dutton will escalate the fight against Labor over the nation's housing crisis by focusing on the preferences of politically volatile middle and outer suburban voters. "The good news is that both sides of politics are prioritising tackling supply as being the solution," Grattan Institute housing expert Brendan Coates said. Brendan Coates from the Grattan Institute said …

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, 3 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 …

Treasurer Jim Chalmers concedes he asked Treasury for negative gearing modelling
5 months, 3 weeks 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 …

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 …

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 …

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 …

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 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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