Treasurer says ALP plan to close negative gearing on existing homes would distress first domestic buyers who would be ‘crowded out’ by wealthy investorsScott Morrison has criticised Labor’s new policy to close negative gearing on existing homes and lop capital gains tax concessions but suggested the Coalition was also “keeping an open intellect on tax reform ahead of the budget.“I have always believed that negative gearing gives hard-working Australians a chance to build some wealth they would not otherwise get,” the treasurer wrote in an opinion piece for News Ltd.Continue reading...
Source: theguardian.com