Two crossbench senators are challenging the Albanese government to limit negative gearing concessions, in a bid to address the nation's housing affordability crisis. Senators Jacqui Lambie and David Pocock said new modelling shows reforming the property tax concessions could save up to $60 billion over a decade.
That's what we've been looking at." The BPO analysed five options, with the most substantial reform estimated to generate $60 billion in the decade to 2033-34. That would require negative gearing to be abolished, grandfather the CGT discount for properties bought before 1 July 2024, and limit it for new properties built after that date.
Source: Real Estate Daily Report (realestatedailyreport.net)
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