Last year, with property prices falling, the Labor Party went to the federal election pledging to wind back two of the most contentious tax perks for property owners: negative gearing and discounts on capital gains tax.
Former economic adviser to the Gillard government, Stephen Koukoulas, said the rejection of Labor's planned changes at the last election would make it harder for all political parties to propose tax reform in the future. "It's very easy to create a scare campaign when people are looking to either withdraw very, very favourable tax treatment on particular investments, or they propose ideas that are going to make housing more affordable," he told 7.30.
"For owner-occupiers, any gains they have in their property are tax free. So this incredible lift in house prices, the 'OK Boomer' set who bought their houses 30, 40, 50 years ago, had multiple increases in the value of their property. It's all tax free."
Don't forget casualisation of the workforce. Yet IR changes Govt wants are going to further erode conditions for workers and the gap will widen
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
O'Neill calls for RA 'lame ducks' to stand down from TV deal talksThe former Australian Rugby Union chief executive said outgoing board members having a say in such a crucial deal wouldn’t be allowed to happen in corporate life. tomdecent Nothing good comes from selecting someone based on their genitalia rather than their resume. Ask the Canterbury NRL club. tomdecent Pathetic when an ex-CEO decides to tell the new CEO/Board how to do their job. Piling on shows no respect for the organisation they once led. tomdecent How many shares in NewsCorp he have?
Source: smh - 🏆 6. / 80 Read more »
Cricket photo conspiracy is fake newsTwitter sleuths thought they’d exposed a newspaper for deliberately making David Warner taller. They were embarrassingly wrong. No, they weren’t. Warner is 5 ft 7, Perry is 5 ft 9. Wow what an article
Source: newscomauHQ - 🏆 9. / 77 Read more »
State-owned Forestry Corp labelled 'unAustralian' for refusing to share burned fence costsThe liability of landowners to build, maintain, and repair dividing fences does not apply to the Crown, as some fire-affected farmers are discovering in NSW.
Source: abcnews - 🏆 5. / 83 Read more »
Labor will not use 'scarce' taxpayer funds on coal-fire power stations | Sky News AustraliaLabor will not use 'scarce taxpayer money' to underwrite coal-fire power plants, according to Labor frontbencher Joel Fitzgibbon.\n\nCoal has divided the Coalition party room, with a number of Nationals MPs urging the government to underwrite a new coal-fired power station in Queensland, which is the subject of a $4 million feasibility study.\n\nHowever, moderate Liberals have argued against taking government energy policy in that direction.\n\nThe comments come after Nationals backbencher Matt Canavan dubbed renewables the “dole bludgers” of the energy system. \n\nSpeaking with Sky News host Chris Kenny, Mr Fitzgibbon said Labor will not use taxpayer money 'to make something commercial when it is not commercial'. Taxpayers money is only scarce when it’s ideologically convenient. Here’s an idea... how about we put a hold on overseas donations to pay for it... ya know do something for the taxpayers that will deliver a ROI 🤔 Nationals should put in a candidate in Hunter who is pro coal. They would win the seat easily So whats he going to waste it on then
Source: SkyNewsAust - 🏆 7. / 78 Read more »
'Rightsizing' is on many Australian wish lists — but there's a barrier in the wayDownsizing, or rightsizing, is considered an essential component of meeting the housing aspirations of older Australians.
Source: abcnews - 🏆 5. / 83 Read more »
Surplus almost certainly gone as coronavirus and bushfires hitThe budget surplus is almost certainly gone as economists warn Australia's run of good luck has finally ended with the coronavirus and bushfires punching holes in revenue and forcing up spending auspol | swrighteconomy swrighteconomy U would think the Left Media R cheering on a RECESSION BUT the IMF and the OECD have the Australian economy growing in 2020 faster than any G7 country. swrighteconomy Imagine how much worse it would be without a surplus? So thank god we had that. swrighteconomy Lucky the Libs are in charge, it would be another disaster if Gillard/Rudd clone - Shorten was running the show
Source: smh - 🏆 6. / 80 Read more »