Negative gains
Labor MPs were left aghast this week at the government’s response to speculation it was planning to amend negative gearing and the capital gains tax discount.
When it first emerged this week that the government had tasked Treasury with looking into changes to negative gearing and the capital gains tax (CGT) discount, the logical conclusion was that they wanted to do something.
But what if Anthony Albanese and Jim Chalmers approached Treasury for cover to do nothing?
That’s one theory doing the rounds among Labor MPs now that the PM has pushed back on taking any policy on negative gearing or the CGT discount to the next election, due by May next year, on the basis that it wouldn’t do anything to boost housing supply.
Under pressure from the Greens and some of their own MPs to tackle investor concessions — and frustrated by the fact their housing policies aren't getting much cut-through — could Albanese and Chalmers have simply wanted to test the waters?
