Acoss chief executive calls for changes to negative gearing and end to ‘unintended loopholes’ in Scott Morrison’s budget to support investment in servicesInvestors who borrow to invest in property and shares should maintain their deductions capped so the savings could be used to provide a modern tax incentive for modern affordable housing,says a budget submission by the Australian Council for Social Services.
Acoss has proposed $12bn in savings in 2017-18 around changes to negative gearing, tax concessions and the employ of private companies and trusts in order to employ half the funds ($6bn) for affordable housing, and community services,a rise in unemployment payments and rent assistance.
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Source: theguardian.com