REIA President Adrian Kelly Goes Toe-To-Toe With Tax Lawyer on Negative Gearing
REIA President Adrian Kelly has appeared on ABC News Breakfast this morning debating negative gearing with Tax Lawyer & Professor Miranda Stewart (University of Melbourne).
The interview comes amid REIA’s anti-Labor campaign protesting the proposed changes, and Bill Shorten’s attacks on agents.
Stewart argued that the policy would not result in higher rents, and renters would become first home buyers as a result of the change.
Kelly disagreed, raising Hawke/Keating’s experience 30 years ago, pointing out that investors would raise rents to obtain returns on investment properties in the absence of tax benefits.
Not Even Defenders Of Labor Policy Know What Will Happen
Professor Stewart did acknowledge that not all the information regarding Labor’s plans has been made available, and as a tax lawyer she was unsure whether the loan against the property or the property itself for existing investments would be grandfathered against the policy.
This comes after it was revealed that Labor had removed almost 80 paragraphs of detail regarding their proposed changes to negative gearing.
Fact Checkers Not Checking Labor Claims
ABC’s Fact Check (which Professor Stewart is a past contributor to) has plenty of content relating to negative gearing, however the content is all based around statements made by Liberal politicians, and not Labor’s claims surrounding the proposed changes.
- ABC’s Fact Check Stories on Negative Gearing:
- Fact check: Did abolishing negative gearing push up rents? – Joe Hockey fact checked
- Fact Check zombie: Malcolm Turnbull repeats Joe Hockey’s negative gearing claim
- Fact Check zombie: Property Council of Australia CEO Ken Morrison repeats negative gearing claim
- Why using taxable income to attack Labor’s negative gearing, capital gains and dividend imputation policies is misleading
- Fact check: Do two-thirds of negative gearers have a taxable income under $80,000?
The Fact Check site has yet to provide any analysis around whether
claims by Labor that changing or removing the policy would make housing more affordable, are accurate.