Labor to end negative gearing concessions for new investors, including more than $70 billion in new loan guarantees

Labor to end negative gearing concessions for new investors, including more than $70 billion in new loan guarantees

Ahead of the July election the Prime Minister said the Coalition would abolish the negative gearing arrangements that benefit banks and investors.

But on Monday he released a speech in which he repeated that promise, saying there would be no change in the rules allowing companies to write off the profits 바카라사이트they take from their foreign subsidiaries.

In his latest speech, Mr Abbott suggested a more gradual solution would work:

“Instead of ending the arrangements already in place and leaving ordinary Australian investors to try to make the world a better place –바카라 in which case we might well have to make a choice between some of the very businesses and institutions we are about to introduce a tough new regime for.”

Mr Shorten said it was a “terrifying plan” by Mr Abbott.

“Labor cannot and will not give up our promise of ending negative gearing for first home buyers and creating more opportunity for first home buyers – not when all Australians pay tens of billions in capital gains tax and when the Coalition’s own income tax return shows that, with very good reason, it is giving more than one-third of first home buyers a tax cut,” he said.

Earlier today the Labor Party released an updated election manifes카지노 사이트to which said the party would scrap the policy of scrapping negative gearing.

“On top of repealing negative gearing this Government will remove all tax benefits the Government is currently paying to foreign investors who have made a profit by taking the risks the Government offers them when choosing which investments to create,” Mr Shorten said.

The Opposition has been pressing the Government to ditch negative gearing for home buyers since 2007.

The Opposition says it is the first significant change it will introduce as the Government grapples to come up with a balanced budget.

The Government says it wants to create a more competitive economy, reduce the cost of living and tackle income inequality in a country with the world’s largest middle class.

Opposition economic policy spokesman Richard Marles said it was a “terrifying plan”.

“It’s really quite a radical policy that would hit many hard-working Australians who have been so successful with the Government’s investment programs but who are struggling to support themselves,” Mr Marles said.

“And while there are lots of reasons to give credit to the Government for introducing all these changes – it does give Australians more certainty about what they pay in taxes because they know when they take out more or less money in tax,