Original article by Phillip Coorey
The Australian Financial Review – Page: 8 : 27-Nov-19
Shadow housing minister Jason Clare has warned that the housing affordability crisis has not eased since Labor lost the 18 May election, adding that it may get worse. He has raised the prospect that Labor could go into the next federal election with a modified version of its proposed changes to the capital gains and negative gearing regimes that were rejected by voters in May.
AUSTRALIAN LABOR PARTY, MASTER BUILDERS AUSTRALIA INCORPORATED
Original article by Olivia Caisley
The Australian – Page: 4 : 1-Aug-19
Research undertaken by Deloitte Access Economics on behalf of the Property Council of Australia suggests that Labor’s proposed negative gearing reforms would have slashed the nation’s GDP by about $1.5bn. It is also estimated that the policy would have resulted in the loss of 7,800 construction industry jobs and cost the sector around $766m. A separate survey of voters in 16 marginal electorates has found that 34 per cent indicated that Labor’s negative gearing and capital gains tax reforms were a key reason why they did not vote for the party at the 18 May election.
PROPERTY COUNCIL OF AUSTRALIA LIMITED, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN LABOR PARTY
Original article by Andrew Tillett
The Australian Financial Review – Page: 5 : 9-Jul-19
A spokesperson for Opposition Leader Anthony Albanese has stressed that Labor has not yet formally dropped its proposed changes to the negative gearing and franking credits regimes, after Albanese gave indications that they will be dumped. Labor intends to review all of its policies in the wake of the federal election loss; some Labor MPs have suggested that increasing the highest marginal income tax rate to 49 per cent by reinstating the budget repair levy is among the policies that may be dropped. Several Labor MPs also say there may be merit in Bill Kelty’s proposal to reduce the top income tax rate.
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY
Original article by Simon Benson
The Australian – Page: 8 : 17-May-19
Wizard Home Loans founder Mark Bouris has attracted scrutiny from the Australian Electoral Commission for targeting voters via a robo-calling campaign. Bouris, who is not a candidate in the federal election, used automated phone calling technology to contact 200,000 households in marginal electorates. He warned that Labor’s proposed negative gearing and capital gains tax reforms would see house prices fall. Bouris has stressed that he was not acting on behalf of any political party.
AUSTRALIAN ELECTORAL COMMISSION, AUSTRALIAN LABOR PARTY, WIZARD HOME LOANS, YELLOW BRICK ROAD HOLDINGS LIMITED – ASX YBR, LIBERAL PARTY OF AUSTRALIA
Original article by Turi Condon, Ben Packham, Greg Brown
The Australian – Page: 1 & 6 : 16-May-19
Property Council of Australia president Stephen Conry says the housing market is "fragile", and it is not the right time for Labor’s proposed changes to the negative gearing regime. Real Estate Institute of Australia president Adrian Kelly warns that the prices of existing properties will fall if Labor implements its reforms, while the Housing Industry Association’s chief economist Tim Reardon says housing rents will rise. Meanwhile, shadow treasurer Chris Bowen has downplayed concerns that homeowners may find themselves in negative equity, arguing that they will only incur a loss if they sell.
PROPERTY COUNCIL OF AUSTRALIA LIMITED, THE REAL ESTATE INSTITUTE OF AUSTRALIA LIMITED, HOUSING INDUSTRY ASSOCIATION LIMITED, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, SQM RESEARCH PTY LTD
Original article by Duncan Hughes
The Australian Financial Review – Page: 11 : 10-May-19
The Real Estate Institute of New South Wales has urged Labor to reconsider its proposed negative gearing and capital gains tax reforms. CEO Tim McKibbin says most of the 50 suburbs across Sydney that will be hardest-hit by the reforms are in Labor-held electorates. The median values of rental properties in some of these suburbs have fallen sharply in the last year, and the REISW warns that Labor’s reforms could result in a further decline.
THE REAL ESTATE INSTITUTE OF NEW SOUTH WALES, AUSTRALIAN LABOR PARTY, HERRON TODD WHITE AUSTRALIA PTY LTD
Original article by Simon Benson, Michael McKenna, Joe Kelly
The Australian – Page: 1 & 4 : 7-May-19
Key upper house crossbenchers have rejected claims by shadow treasurer Chris Bowen that Labor will have a mandate for tax reform if it wins the federal election. Centre Alliance senator Stirling Griff contends that Labor will only have a mandate if it gains a majority in the Senate. Griff opposes Labor’s proposal to abolish cash refunds for excess dividend imputation credits, although he says Centre Alliance may be willing to negotiate regarding changes to the negative gearing regime. One Nation leader Pauline Hanson also opposes the franking credit reforms.
AUSTRALIAN LABOR PARTY, CENTRE ALLIANCE, ONE NATION PARTY, UNITED AUSTRALIA PARTY, AUSTRALIAN GREENS, AUSTRALIAN CONSERVATIVES
Original article by Primrose Riordan, Ben Packham, Ben Wilmot
The Australian – Page: 6 : 1-May-19
Prime Minister Scott Morrison says Labor’s proposed changes to the negative gearing and capital gains tax regimes could result in lower GST and stamp duty revenue for state governments. He added that the states should seek a guarantee from Labor that its reforms would not affect their revenue. Shadow treasurer Chris Bowen in turn has blamed the Coalition for the housing market downturn, which has reduced state governments’ stamp duty revenue.
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, REAL ESTATE INSTITUTE OF WESTERN AUSTRALIA, STOCKLAND – ASX SGP, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, HOUSING INDUSTRY ASSOCIATION LIMITED, MASTER BUILDERS AUSTRALIA INCORPORATED
Original article by Ben Butler, Michael Roddan
The Australian – Page: 19 & 26 : 17-Apr-19
Data from the Australian Taxation Office shows that the number of property investors who use negative gearing rose from 631,000 to about 1.3 million between 2000 and 2017. In contrast, the number of investors who broke even or made a profit rose from 532,000 to around 856,000. The figures also show that the proportion of investors who are aged 60+ rose from around 15 per cent to about 23.5 per cent. Robert Deutsch of the Tax Institute does not expect Labor’s proposed negative gearing reforms to have much effect on housing prices.
AUSTRALIAN TAXATION OFFICE, THE TAX INSTITUTE, AUSTRALIAN LABOR PARTY, BIS OXFORD ECONOMICS PTY LTD, UNIVERSITY OF NEW SOUTH WALES
Original article by Robert Gottliebsen
The Australian – Page: 29 : 16-Apr-19
The Coalition’s best chance of winning the federal election may to be to launch a fear campaign against key Labor policies, such as its franking credit reforms and changes to the negative gearing regime. The latter policy will almost certainly result in lower house values over time; the Coalition should pitch its fear campaign at home buyers who are in or are close to being in negative equity, as well as small business owners who use their homes as capital. However, Prime Minister Scott Morrison is unlikely to seek to cash in on the fear factor until it is far too late.
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET