We risk becoming a nation unable to house our young, writes Shadow Assistant Treasurer, Andrew Leigh MP.
We risk becoming a nation unable to house our young, writes Shadow Assistant Treasurer, Andrew Leigh MP at Comment: Unlocking the Australian dream of owning a home
The benefits of negative gearing and the capital gains tax discount go disproportionately to the most affluent. Half of all benefits go to the top 10 per cent of income earners. For example, surgeons are 100 times more likely to negatively gear than cleaners. He wrote Labors plan will grandfather negative gearing - allowing it to remain on investments made before 1 July 2017, but restricting negative gearing to new housing on and after that date. The same goes for our changes to Capital Gains Tax. The existing treatment will remain for assets purchased prior to 1 July 2017, but assets bought on or after that date will receive a 25 per cent discount instead of 50 per cent. Existing capital gains tax arrangements for small businesses will remain in place.
However, Senator Concetta Fierravanti-Wells told SBS Korean program by telephone interview. What happen if we change Negative gearing is that length go up therefore the less houses that are available
Click the button above for the Podcast to listen Korean program.
