The big news for this week! Negative Gearing potentially scrapped on existing dwellings.
In case you haven’t heard, Bill Shorten leader of the Australian Labor Party (the ALP) has announced a proposed reform to the negative gearing tax concession presently available in Australia.
Should the ALP win the next federal election and pass its proposed reform through Parliament, then from 1 July 2017 investors will only be allowed to negatively gear brand new properties. Also included in the reform package is a proposed reduction in the Capital Gains Tax discount from 50% to 25%, for property ...Continue Reading →