Original article by Michael Roddan
The Australian – Page: 1 & 2 : 19-Nov-18
Aussie Home Loans founder John Symond has warned that Labor’s proposed changes to the negative gearing regime could lead to a recession in Australia. He says that although the "grandfathering" provisions of the Labor reforms would benefit people who are buying their first home, they would cause property prices to fall and result in many existing homeowners having negative equity in their home. Symond supports negative gearing reforms, but he argues that they should primarily target people on high incomes.
AUSSIE HOME LOANS LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, THE TAX INSTITUTE, SQM RESEARCH PTY LTD