Labor Vs. Liberal - Key Election Property Issues Explained
With the 2019 Federal election only days away, SMATS Group Executive Chairman, Steve Douglas outlines the key issues relating to Australian property from both sides of politics.
In a deep dive analysis, Mr. Douglas examines the Liberal and Labor positions concerning negative gearing and capital gains tax policy, to reveal the potential impact on investors and the Australian economy at large.
While the Liberal camp has promised to retain current policies, Labor proposes to abolish negative gearing concessions on established property purchased after January 1st, 2020 and reduce the capital gains tax discount from the current level of 50% to 25%.
Mr. Douglas warns that a significant impact of the proposed changes is enhanced market confusion, which will erode confidence, lead to lower levels of investment, weaker economic stimulus and ultimately lower tax revenues.
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All information provided in these seminars is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. The information in these seminars does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.