The Property Council has warned that "playing around" with major tax changes like those being flagged by both sides of politics could be harmful.
The Property Council has warned that tinkering with negative gearing could hurt the economy; meanwhile, the Greens have welcome Labor's plan to restrict tax breaks for investment properties.
The ALP has announced that if elected, it will only allow negative gearing on new properties from next year.
But Greens leader, Richard di Natale, argues that Labor's policy doesn't go far enough
Labor has promised to restrict negative gearing to new properties if it wins this year's federal election, saying it will create a level playing field for new home buyers.
But Property Council chief executive Ken Morrison is concerned about "playing around" with major tax changes for a part of the economy that is providing economic growth and jobs.
"We have seen it in the past where governments at the state and federal level have made significant tax changes, claimed it's targeted, claimed it well modelled and in fact it has had major impact," he told Sky News on Tuesday.
While the Turnbull government has also attacked Labor's proposal, cabinet minister Josh Frydenberg says it is looking at reining in negative gearing "excesses" as part of its tax reform package.
