‘A long way short’: Greens say Labor has ‘squibbed it’ on housing tax reforms
The far left party is firming as the sole kingmaker in the Senate for Labor’s tax changes, with the Coalition and One Nation both strongly opposing the reforms.
The Greens have left the door open to blocking Treasurer Jim Chalmers’ overhaul of capital gains tax (CGT) and negative gearing, as the party firms as the sole Senate kingmaker on the proposal.
While welcoming the changes as “a step in a direction that will make a difference”, Greens housing spokesperson Barbara Pocock accused Labor of “squibbing” what she said was much-needed “radical surgery” to the housing system.
Chalmers’ fifth budget on Tuesday confirmed widely expected changes to CGT and negative gearing, which will be abolished except for on new-build properties in a bid to boost supply.
But Australians currently negatively gearing a property will not be impacted, with Chalmers arguing Labor wanted to “respect [investment] decisions that people have taken in the past”.
