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The federal ALP is considering adopting proposal that would limit negative gearing to new properties only. Negative gearing: Labor preparing ground for changes as think tank proposal estimates $29.3b saving
Labor is considering a proposal to limit home buyers' use of negative gearing to new properties only, in a move designed to drive the creation of new housing and deliver a $29.3 billion benefit to the budget bottom line over a decade. The proposal is contained in a policy paper by the Labor-aligned McKell Institute and is being released on Thursday as the ALP signals a willingness to reform negative gearing if it wins the next election and as the government is under pressure over property prices.
....Mr Burke said on Wednesday that Labor was "the first opposition in a couple of decades to say we're willing to include it [negative gearing] in the conversation, we're willing to include it in the discussion and work our way through on it".
"What we have ruled out is anything that would be retrospective ... and anything that would have an impact on the provision of new housing supply."
Opposition Leader Bill Shorten, however, cautioned on Monday that negative gearing changes were not the immediate focus of the party.