The “teal” independents and other crossbench MPs have called for negative gearing to be on the agenda in a total rethink of tax and housing policy.
Independent MPs are pressing for tax changes to help young Australians who feel shut out of the housing market, naming negative gearing as a key issue even though voters in their electorates take advantage of the tax breaks.
“We need to lower income taxes on younger working people and tilt the balance towards home ownership for those who are locked out.“I’ve been arguing for a broad approach to tax reform with everything on the table, and I hope that’s what we’re starting to see.” “Negative gearing is just one piece of this. We’re going to have to think much bigger to fix the housing crisis,” she said.
“While I’m open to reviewing how negative gearing is applied, I recognise we can’t abruptly change policies that people have relied on for years,” she said.Warringah had about 7000 taxpayers claiming a net rental loss, or 6.9 per cent of the total.
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