Negative gearing and capital gains tax are back on the national agenda as Australians deal with a housing crisis and politicians look for ways to tackle the issue and win voters’ support at the upcoming election.
The Labor government confirmed this week the tax concessions were being reviewed. Meanwhile, the government is struggling to pass its Help to Buy housing assistance legislation through the Senate.
The Help to Buy legislation is aimed at helping first home buyers on low and middle incomes purchase their first home. The government would contribute up to 40% of the home purchase price and require only a 2% deposit from buyer. Buyers could eventually buy back the government’s equity share.
