Useful facts without opinions: Election time and negative gearing
It seems the issue gets dusted off every 3 years so here’s recent statements from the major parties on their plans for property investors using negative gearing:
Labor: “Negative gearing is a huge issue that is raised with me continually. The government has at this time said that we’re not going to deal with negative gearing. But there are a range of issues that we will have to look at and maybe negative gearing will have to come into that mix in the future. But zoning, infrastructure costs, excessive regulation, outdated planning policies, and transaction taxes, as well as negative gearing, these are all issues that we will have to have a look at.” Senator Doug Cameron, Parliamentary Secretary for Housing, speaking on Triple J on August 14th 2013
LNP: “The Coalition supports the existing arrangement concerning negative gearing. Negative gearing provides incentive for investors to meet the demand for rental accommodation in the Australian housing market. Under current arrangements negative gearing is available to individuals and businesses who borrow funds for investments. Private investment provides the stock of rental accommodation for renters across all levels of income.” Kevin Andrews, Shadow Minister for Housing, writing in REIA newsletter July 2013.
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