Labor brings forward target date to end negative gearing
If the Australian Labor Party gains office at the May Federal Election it will introduce its changes to negative gearing barely seven months’ later on 1 January, 2020.
The Shadow Treasurer, Chris Bowen has confirmed the earlier than expected start-date for the negative gearing changes claiming that a 1 January start-date would coincide with a quieter time in the property cycle allowing for smoother implementation.
He said that at the last Federal election the Opposition had said it’s negative gearing changes would come into force 12 months after the election, but this time it was targeting seven months but there would be no shortcuts.
"This enables proper legislative processes, draft legislation, proper consultation about how the legislation should be framed,” Bowen said.
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