- Tech oversight could have given away Labor’s internal doubts over Negative Gearing Policy
- Change of policy wording coincided with start of housing downturn back in October
- Negative Gearing & Housing Affordability no-longer a headline issue on website
First Reported on Real Estate News Group
On Friday, Bill Shorten gave the Australian Financial Review an ambiguous answer on his planned timing for negative gearing cuts, saying that it would be implemented on a “yet to be advised” date, indicating a change in the party’s interest to remove the tax break for investors as quickly as first hoped.
This was the first publicised mention of a potential delay in his plan of axing negative gearing.
However Real Estate News Group made a discovery on the ALP’s website indicating that perhaps Labor’s plans may have changed as early as several months ago.
Labor May Have Internally Changed Their Minds About Negative Gearing Back in October
A cached version of the ALP website from the 6th of October shows the earliest recorded use of the phrase “from a yet-to-be-determined date after the next election” regarding the suggested change of law date, coincidentally the same time house prices across the nation began to plummet.
If this is an indication of when Labor leaders began to change their mind, then this is a damming signal that Labor members are unsure how popular the change will be given the expected impacts on property prices.
Labor Website Buried Their Stance On Negative Gearing
On the ALP website, the “Campaigns” page does not list negative gearing as a headline issue, however a cached version of the ALP’s website finds a lengthy but incomplete page on the Negative Gearing topic that is not accessible through any links on the site and was first published in February 2016.
The page on Labor’s site mentions housing affordability several times, but makes no reference to the potentially negative impact the change would have on rising rent costs and falling property prices after the proposed tax change.