{"id":79162,"date":"2025-08-19T05:36:04","date_gmt":"2025-08-19T05:36:04","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/79162\/"},"modified":"2025-08-19T05:36:04","modified_gmt":"2025-08-19T05:36:04","slug":"call-for-negative-gearing-reform","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/79162\/","title":{"rendered":"Call for negative gearing reform"},"content":{"rendered":"

T\ufeffhere are calls for today’s economic reform summit in Canberra to consider overhauling Australia’s negative gearing or capital gains tax concessions.<\/p>\n

Under the controversial system, property owners claim back billions of dollars in tax concessions.<\/p>\n

The property industry claims the two policies provide owners with an incentive to invest, ensuring a supply of rental properties.<\/p>\n

\"\"\/Negative gearing has been criticised for favouring wealthy Australians at the expense of lower income earners. (Robert Pearce\/Nine)<\/p>\n

But critics argue the billions of dollars in tax breaks push up house prices and prevent many Australians from purchasing a home\ufeff.<\/p>\n

Ahead of today’s economic roundtable, the housing campaign group Everybody’s Home wrote an open letter to Prime Minister Anthony Albanese and Treasurer Jim Chalmers.<\/p>\n

The alliance of housing sector advocates, economists and union leaders argues negative gearing reform could unlock billions of taxpayer dollars that should be invested in building public and community housing.<\/p>\n

\"PrimePrime Minister Anthony Albanese and Treasurer Jim Chalmers at the opening of the Economic Reform Roundtable at Parliament House in Canberra today. Photo: Dominic Lorrimer (Dominic Lorrimer)<\/p>\n

Everybody’s Home national spokesperson Maiy Azize says too many Australians are paying the price for the wealthy’s tax concessions.<\/p>\n

“These tax breaks are among the most unfair and distortionary in our economy,” he said.<\/p>\n

“They make housing less affordable, benefit higher-income Australians, and lock everyday people out of safe and affordable housing.<\/p>\n

“Cutting them and using the savings to build low-cost rentals will mean more people will be able to afford a safe place to live.”<\/p>\n

How does negative gearing work?<\/p>\n

Negative gearing is a tax concession that applies when the cost of owning an investment outweighs the income it generates.<\/p>\n

The owner can then deduct that net loss from their overall income and lower their total taxable income, and therefore reduce their tax bill.<\/p>\n

Should negative gearing be abolished?<\/p>\n

It can apply to any kind of investment in Australia but is most commonly associated with investment properties.<\/p>\n","protected":false},"excerpt":{"rendered":"T\ufeffhere are calls for today’s economic reform summit in Canberra to consider overhauling Australia’s negative gearing or capital…\n","protected":false},"author":2,"featured_media":79163,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-79162","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/79162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=79162"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/79162\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/79163"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=79162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=79162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=79162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}