Labor promises to cut negative gearing and capital gains tax concessions

Posted by Simon Dehne on February 16, 2016 in Latest News with No Comments

australia_property_marketLabor has promised to end negative gearing on existing homes and cut capital gains tax concessions if it wins the next election.

Labor says the changes would raise $32bn over a decade, help make housing more affordable and generate construction industry jobs.

As Malcolm Turnbull’s government struggles to develop a tax plan and abandons the idea of increasing the GST to fund personal income tax cuts, Labor leader Bill Shorten will today announce the two big, and politically risky, changes.

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