Govt-convened forum lambasts Labor policy

ALP Josh Frydenberg property council Master Builders Australia

19 February 2019
| By Mike |
image
image
expand image

In another sign that the Government intends placing a heavy election campaign focus on the Australian Labor Party’s (ALP’s) policies changing negative gearing and increasing capital gains tax, Treasurer Josh Frydenberg has sought to leverage the views of a Government-convened roundtable of housing industry identities.

The roundtable included representatives from the Property Council, Master Builders Australia, the Real Estate Institute and Wizard Home Loans with Frydenberg claiming the clear message from the industry was that Labor’s plan to abolish negative gearing as it currently exists and increase capital gains by 50 per cent would have a significant detrimental impact on the housing market and the broader economy.

“This is a lose-lose policy,” he said. “If you own your own home it will be worth less, and if you rent your home it will cost more.”

The Treasurer claimed that with Australia’s housing market cooling, now represented the worst possible time for such changes.

Read more about:

AUTHOR

 

Recommended for you

 

MARKET INSIGHTS

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

baffled

I don't have any faith in the regulator. I've stopped reading these and just think some poor guy got busted for a spell...

16 hours ago
Chris Cornish

By having trustees supervise client directed payments from their pension funds, Stephen Jones and the federal Labor gove...

3 days 21 hours ago
Chris Cornish

Now we now the size of Stephen Jones' CSOLR tax, I doubt anyone will be employer any new financial adviser from this poi...

3 days 21 hours ago

AustralianSuper and Australian Retirement Trust have posted the financial results for the 2022–23 financial year for their combined 5.3 million members....

10 months 2 weeks ago

A $34 billion fund has come out on top with a 13.3 per cent return in the last 12 months, beating out mega funds like Australian Retirement Trust and Aware Super. ...

10 months ago

The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....

10 months 2 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND