The government has asked Treasury officials for expert advice on possible changes after years of dispute over billions of dollars in tax benefits.
Federal officials have started work on options to scale back negative gearing and capital gains tax concessions, preparing the ground for a bold new housing policy that could define the federal election.
Prime Minister Anthony Albanese sought to brush off questions about negative gearing last week after Greens leader Adam Bandt spurned a deal on housing policy in the Senate, leading Opposition Leader Peter Dutton to call on the government to “be honest” about its plans. “It’s in the values frame. This is why Albo was reticent about ruling it out the other day. Look at what Albo has said, he has not knocked it on the head.“This will give the government something big and positive to talk about, it will be a major talking point in the campaign.”“I don’t answer those sorts of questions,” he said on ABC Radio National on Thursday.
Several sources in the government, speaking on the condition they were not named, said they had not been part of any conversations about changes to negative gearing. The considerations appear to have been limited to officials reporting to the prime minister, treasurer and Finance Minister Katy Gallagher.
“I think that’s what they’ll do and they’ll take to the polls and point to John Howard and the GST in 1998. But we are ready for that,” the Liberal MP told this masthead last month.The Grattan Institute estimates that about 66 per cent of Australians aged 30 to 34 owned their own home in 1981, but that this fell to 49 per cent in 2021.
If Labor chose to proceed with changes to negative gearing, it would take the proposal to the next election so it could not be accused of breaking a promise.buy their first home, while the Greens have been demanding the government impose a national rent freeze, provide more money for social housing and phase out negative gearing over five years.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Negative gearing in Labor’s sights as Albanese readies for election battleThe government has asked Treasury officials for expert advice on possible changes after years of dispute over billions of dollars in tax benefits.
Read more »
Negative gearing in Labor’s sights as Albanese readies for election battleThe government has asked Treasury officials for expert advice on possible changes after years of dispute over billions of dollars in tax benefits.
Read more »
‘Invisible and demeaned’: proposed census question for LGBTQ+ Australians dumped by Albanese governmentJust.Equal Australia says Anthony Albanese should not march in next year’s Mardi Gras for pushing Australians ‘back into the statistical closet’
Read more »
Albanese government accused of trying to ‘bury bad news’ about health of Great Barrier ReefMajor report released at 4pm on Friday with no media release or a press conference from Tanya Plibersek
Read more »
Albanese government rejects Setka’s claim Labor double-crossed him over CFMEU administration as ‘ridiculous’Construction Forestry Maritime Employees Union members to protest administration in capital city rallies on Tuesday
Read more »
Albanese reveals ‘disruption’ which harmed Labor’s NT election chancesLabor's Northern Territory election defeat after eight years in office will be closely examined by the Albanese government to determine if there are any federal implications ahead of the next national election, the Prime Minister has confirmed.
Read more »