Australian Labor Party leader Anthony Albanese has pledged not to strict negative gearing or increase capital gains tax if they win the next election, which could boost home ownership across the country.
Master Builders Australia commends the Australian Labor Party for its commitment to maintain the current settings for negative gearing and capital gains tax.
“The Opposition Leader’s pledge that Labor will not restrict negative gearing or increase capital gains tax should they win government at the next federal election is good news for the building industry, the economy and the community,” Denita Wawn, CEO of Master Builders Australia said.
“This announcement shows the Opposition’s recognition that new home building and increasing home ownership is vital to economic recovery and people’s financial security,” she said.
“With a Federal Election looming, the Opposition’s acknowledgement that restricting negative gearing and increasing capital gains tax would undermine housing supply, jobs and sabotage economic recovery is timely,” Denita Wawn said.
“We appreciate the efforts of the Shadow Minister for Housing and Homelessness, Jason Clare MP, to discuss this issue with Master Builders since the last Federal Election,” she said.
“Master Builders looks forward to continuing working with him to advance other policies that promote the accessibility of homeownership to all Australians and increase the supply of an appropriate mix of housing options, including social and affordable housing,” Denita Wawn said.’
Source: Master Builders