Landlord tax breaks will be the fastest-growing source of lost revenue over the next four years, as rising interest rates push more real estate speculators to make use of negative gearing.
Australians will bank more than $415 billion in concessions on superannuation and capital gains over the next four years, according to Treasury’s annual Tax Benchmarks and Variations Statement, released on Tuesday.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
