Powered by MOMENTUM MEDIA
subscribe to our newsletter

Treasurer warns of Labor's negative gearing plans

The federal opposition could make damaging changes to negative gearing if it returns to power, according to Joe Hockey.

The treasurer said the Labor Party didn’t understand the consequences of changing negative gearing, after shadow treasurer Chris Bowen raised the idea of negative gearing reform.

“The thing about the Labor Party raising the issue of negative gearing is they haven’t properly thought it through,” Mr Hockey said. 

“You can’t trust the Labor Party with taxation policy. We’ve seen that with the carbon tax, the mining tax. We’ve seen numerous policy failures in relation to taxation.

“If you change negative gearing, then there are significant flow-on consequences from people that rent homes, and that needs to be properly considered.”

Advertisement
Advertisement

Mr Hockey’s remarks came after Mr Bowen told ABC television that the federal opposition might take negative gearing changes to the next election.

Mr Bowen also said he doesn’t envisage either side of politics abolishing negative gearing in its entirety.

“But of course, when everything is being examined in a tough fiscal situation, any responsible opposition would be considering a range of measures,” he said.

“But we'll be upfront about anything we do before the next election.”

However, Mr Hockey said if the Labor Party has got a position on negative gearing, it should explain it now.

PROMOTED CONTENT


“Chris Bowen is trying to raise an issue that he doesn’t know how to bring it back down to earth,” he said.

Treasurer warns of Labor's negative gearing plans
mortgagebusiness

Latest News

Citi is to exit its consumer business, including mortgages, loans, retail banking and credit card operations, in Australia and 12 other ...

The major bank’s CEO has reiterated that responsible lending changes could simplify the lender’s processes and improve mortgage approv...

The non-major has reported growth in housing lending as well as a rise in home loan settlements via the broker channel. ...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: Tackling the home deposit challenge

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.