STOP Labor’s housing tax

Labor is proposing a double hit on housing, that would affect all Australians.

 
 

Labor’s Housing Tax

  • It would hit mum and dad investors and have a flow-on effect across the entire property market and economy.

  • If you own your home it will be worth less. If you rent you will pay more.

  • Experts predict Labor’s tax grabs would cost jobs. Some believe it could even trigger a recession.

Negative Gearing

  • Labor plans to end negative gearing for existing properties.

  • The ability to deduct expenses or have tax concessions on capital gains is a common feature of tax systems around the world, including Australia.

  • Labor would change the goal posts on mum and dad investors. This would have a flow-on affect across the entire property market and economy.

Increasing Capital Gains Tax

  • A capital gain occurs when an asset is sold after it has appreciated in value. This gain is currently taxed at the taxpayer’s marginal tax rate, with a discount of 50%.

  • This discount on capital gains tax helps encourage savings and investment.

  • Labor’s plans will halve the capital gains tax discount to taxpayers from 50% to 25% for assets that are held longer than 12 months.

Who it affects

  • Labor’s Housing Tax would have a flow-on effect across the economy.

  • This includes 58,000 teachers, 41,000 nurses, 19,000 police and emergency service personnel.

  • Analysis by the Master Builders Association projects Labor’s Housing Tax would cost 32,000 jobs and mean $12 billion less building activity.

This is a lose-lose policy.


HELP STOP labor’s housing tax!

Name *
Name

If you own your home it will be worth less. If you rent you will pay more.

HousingTaxTable.PNG

Source: realestate.com.au

This is a lose-lose policy.