Prime Minister Anthony Albanese has expressed reservations about revisiting negative gearing policies, citing concerns that they could restrict housing supply. While initially open to exploring the issue, he now emphasizes the importance of ensuring any policy changes do not negatively impact the availability of homes.
The PM appears to have cooled on negative gearing after initially leaving the door open, now saying he is concerned the policy would restrict housing supply .
Mr Albanese left the door open to revisiting the tax treatment of investment properties on Wednesday morning when he did not deny a report in Nine newspapers that Treasury had been asked to draw up options, saying he welcomed public service ideas. That policy would stop investors from writing off rental losses against their regular income, with exceptions for any existing investments and for any newly-built homes.
But the paper also found that housing affordability – the reason the government cares about supply – would still improve, because demand from property investors would fall by much more than supply would. A 2023 study by Michael Warlters from the NSW Treasury found negative gearing changes could boost long-term home ownership rates by 6.6 per cent by redistributing from investors to owner-occupiers.
He added that housing supply problems were primarily caused by planning restrictions, not a lack of investor appetite.
Negative Gearing Housing Supply Anthony Albanese Labor Party Property Council
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