Melton One of the huge policy debates in this year’s election is negative gearing. The Labor Party plans to limit negative gearing from the 1st of January next year on new housing. This could be a make or break for the Labor party being such an important issue.
Whilst this would provide improving affordability for new home buyers, there are concerns that ridding negative gearing could lead to higher taxes and a fall in the economy, both local economies and as a whole.
Views on negative gearing are split between parties, Vote Compass data suggests that ‘almost half of voters agree there should be fewer tax breaks on investment properties, with 29 percent disagreeing and 20 per cent neutral on the issue.’
‘Amongst Coalition voters, almost half (49 per cent) are against winding back taxes on investment properties, while a large proportion of Labor (68 per cent) and Greens (59 per cent) voters would like to see fewer tax concessions.’
‘One Nation supporters seem to be somewhere in the middle on negative gearing, with 36 per cent in agreement with changes and 38 per cent against. Twenty four per cent of One Nation voters are neutral on the issue.’
Text Information Sourced from: http://outerwesternsydney.com.au/2019/real-estate-news/do-voters-want-negative-gearing-to-change/
