Peter Dutton makes Labor's case that tax breaks for landlords ought to be restricted to those who build homes
10 months, 1 week 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 plan like Dutton's Under Labor's 2019 plan, negative gearing — the tax break that allows investors to write off losses they make from renters against their wage income — would no longer be available to new investors, except those who actually provided new homes. Labor planned to "put negative gearing to work by limiting it to new investment properties to help boost housing supply and jobs".

Labor Homes Properties Tax Supply Investment Foreign Investors Investors Stop Dutton Peter Dutton Negative New Homes Negative Gearing Gearing Existing Investment Properties Existing Properties Existing Australian Homes  restricted  properties  investment  investors  peter  tax  existing  case  negative  makes  ought  landlords  labors  gearing  homes  stop  supply  dutton

History of this topic

Australia to ban foreign purchase of built homes
1 month, 2 weeks ago

Australia to ban foreign purchase of built homes

China Daily  

Australia will impose a two-year ban on foreign investors purchasing existing homes, starting April 1, in a bid to ease housing supply pressures and improve access to affordable dwellings for local residents. Michael Yardney, founder of Metropole Property Strategists, an Australian real estate company, cited Australian Taxation Office data from the financial year 2022-23, showing that only about 1,800 of …

Australia bans foreigners from buying homes to tackle surging property prices
1 month, 2 weeks ago

Australia bans foreigners from buying homes to tackle surging property prices

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “We’re in the midst of a housing crisis because …

One million Australians are negatively gearing, new tax figures show
3 months, 2 weeks ago

One million Australians are negatively gearing, new tax figures show

ABC  

Nearly half of all Australian landlords have negatively geared properties, according to new figures that show the highest earners are hauling in tens of billions of dollars from tax concessions and loopholes. Capital gains tax concessions will "cost" the federal budget $52 billion this year, and super tax concessions another $51 billion, according to Treasury's annual tax report. Labor vowed …

Treasurer Jim Chalmers gives strongest indication yet that the government won't change negative gearing
5 months, 2 weeks 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
6 months 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 …

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 …

ABC finance guru Alan Kohler reveals the REAL reasons for Australia's housing crisis, who's to blame and how to fix it - and his harsh truths will make your blood boil
1 year, 3 months ago

ABC finance guru Alan Kohler reveals the REAL reasons for Australia's housing crisis, who's to blame and how to fix it - and his harsh truths will make your blood boil

Daily Mail  

The ABC's finance expert Alan Kohler has blamed surging immigration and tax breaks for investor landlords for housing being so unaffordable in Australia. This occurred as John Howard's Coalition government simultaneously introduced a 50 per cent capital gains tax discount for investor landlords selling property. The ABC's finance expert Alan Kohler has blamed surging immigration and tax breaks for investor …

Labor to limit negative gearing concessions to new properties from January 1
6 years 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 …

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 …

Government looked into impact of tax breaks on housing market but did not act: FOI investigation
7 years, 11 months ago

Government looked into impact of tax breaks on housing market but did not act: FOI investigation

ABC  

Federal Cabinet formally examined the impact of tax breaks on Australia's booming housing market in early 2016 but decided not to act, an ABC investigation has revealed. Key dates: February 11—19: Date range for which the ABC sought documents about negative gearing and capital gains tax Date range for which the ABC sought documents about negative gearing and capital gains …

High-income earners benefiting from property tax concessions 'beside the point', Malcolm Turnbull says
8 years, 11 months ago

High-income earners benefiting from property tax concessions 'beside the point', Malcolm Turnbull says

ABC  

Prime Minister Malcolm Turnbull says the fact investment property tax concessions heavily benefit high-income earners is "beside the point", and Labor's plan to restrict deductions is "unjust". Key points: Top 10pc of earners get almost half all negative gearing tax benefits, receive two thirds of all capital gains income: Grattan Institute Institute wants to scrap negative gearing, half capital gains …

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, 1 month 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 …

Discover Related