In his 2017/18 budget speech, South Africa’s finance minister Pravin Gordhan opted to focus on taxing high income earners to find desperately needed money.
Opposition Leader Bill Shorten said that Australia spends more at a Commonwealth level on negative gearing and capital gains tax discounts than it does on child care or higher education. Is he right?
Prime Minister Malcolm Turnbull has warned that Labor’s negative gearing policy would deliver “massive shocks” to the residential housing market and drive all investors away. Does that claim stack up?
The problem is there are already too many buyers willing to pay high prices, and negative gearing is designed to create more buyers willing to pay more.
Fairfax-Ipsos’ first poll of 2016 has the government ahead 52-48% on the two-party vote and Malcolm Turnbull leading Bill Shorten 64-19% as preferred prime minister. While the numbers for the Coalition…
Bill Shorten has unveiled tax changes that will tighten negative gearing and capital gains tax provisions, saving $565 million over the forward estimates and $32.1 billion over a decade.
The issue of how to measure capital gains in “real terms” - that is, over the years they arose, rather than over a financial year, is at the heart of capital gains reform.
Charis Palmer, The Conversation and Emil Jeyaratnam, The Conversation
Further reading: Little hard data in the area of foreign investment Don’t be misled on Chinese foreign investment: read the facts Don’t blame foreign investment for rising house prices Explainer: why negative…