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Policy plans for negative gearing tipped to his low-income earners

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A real estate boss believes Labor’s plans for negative gearing will impact low-income earners instead of high-net-worth individuals as per the policy design.

The federal opposition has indicated plans to limit negative gearing to new housing and halve the capital gains tax concessions.

Labor’s suggestions that this policy will largely impact wealthy investors is not wholly correct, according to the chief executive of Starr Partners, Doug Driscoll.

His network of brokers and real estate agents are finding low to middle income individuals and families are active in the property investment space.

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“Many nurses, teachers and policemen are also purchasing investment properties; they make up the investor profile, too. The opposition’s proposed policy could inadvertently disadvantage many of the people it is trying to help,” Mr Driscoll said.

Means-testing would be a more effective way to approach tax concessions, according to Mr Driscoll.

“This would ensure that higher-income earners are not benefiting the most, and tip the balance in favour of those that need the subsidies the most. Alternatively, capping the volume of properties an investor can negatively gear will reduce the number of negatively geared properties, without limiting it to a subset of homes,” he said.

Policy plans for negative gearing tipped to his low-income earners
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Anonymous - It is not a bias to get a refund of over-withheld taxes. For once, Australia has a better tax system in this respect than most of the rest of the world.....
Anonymous - This is all identity politics rubbish. Inasmuch as most families are dual income earners and as most women are not in high paying jobs for a variety.......
Margaret - Happy that I won't be around in 2060....
Anonymous - This "analysis" is misconceived and should get a fail in statistics. Men pay more tax because they work more. So they should get more relief. And,.......