Labor wants to administer tax changes for property investors that will inflict a huge shock at a time when "confidence is everything", Prime Minister Malcolm Turnbull says.
He says Labor's plans to limit negative gearing to new properties will hurt house values - and Australian families' single biggest asset - at a time when the global economy is turbulent and Australia is going through a transition.
"To administer such a big shock ... is very reckless," Mr Turnbull told reporters in Canberra on Sunday.
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