Labor pledges limits on negative gearing and CGT as tax wars heat up
Future property investors are in the sights of both major parties with Labor to limit negative gearing to new homes only and to halve the Capital Gains Tax discount to 25 per cent.
The policy, to be unveiled by Labor leader Bill Shorten on Saturday at the NSW state Labor conference, will give the Turnbull government political cover if it also chooses to target negative gearing now that its GST plans have collapsed.
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Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence. Connect with Phillip on Facebook and Twitter. Email Phillip at pcoorey@afr.com
Laura Tingle is The Australian Financial Review's former political editor. She is now chief political correspondent for the ABC's 7.30 program. Connect with Laura on Facebook and Twitter.
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