Original article by Ingrid Fuary-Wagner
The Australian Financial Review – Page: 9 : 18-Feb-19
Real estate investors are preparing to acquire established properties in the event that Labor wins the upcoming federal election. Labor intends to abolish negative gearing on established properties, although it will still allow it for newly-built homes. However, any such changes would be unlikely to take effect until 1 July 2020. Victor Kumar of Right Property Group says he would expect to see a big increase in sales of established properties in the period between the election and when any legislation takes effect.
AUSTRALIAN LABOR PARTY, RIGHT PROPERTY GROUP