BREAKING: Labor Pulls Negative Gearing Policy Info From Site

The ALP’s website has significantly cut-back the information available on their headline policy of negative gearing reform. The changes include removing nearly 90 paragraphs of information and fact sheets, including explainer charts and diagrams, down to just 10 paragraphs.

Despite the lack of information, the site still lists the policy as being put into effect as of the 1st of January 2020, that negative gearing will only be available for new homes, the policy will be “grandfathered” so existing negatively geared properties will not be affected, and the capital gains tax discount will be reduced from 50% to 25%.

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Visit their Negative Gearing policy page here

Tech Blunders Revealing Labor Backflips

The policy, known on the ALP site as “Positive plan to help housing affordability” has been removed from Labor’s “Campaigns” policies overview page.

This is not the first time in the past 12 months a change to Labor’s website regarding negative gearing has grabbed headlines; in December, a change to the site suggested that Labor may have been reconsidering the policy as early as October last year.

“Campaigns” overview on the ALP’s website Source: alp.org.au

These changes appear after significant backlash from across the real estate industry, lobbying from the REIA, economists, media publications and even the general public about the effect of reforming negative gearing during one of the worst housing downturns in decades.

Recently, Bill Shorten hit out at agents directly saying that agents directly benefitted from negative gearing, going as far to suggest agents ran their businesses on public funds from users of negative gearing.

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