Labor brings forward target date to end negative gearing

Labor ALP federal election chris bowen opposition

29 March 2019
| By Mike |
image
image
expand image

If the Australian Labor Party gains office at the May Federal Election it will introduce its changes to negative gearing barely seven months’ later on 1 January, 2020.

The Shadow Treasurer, Chris Bowen has confirmed the earlier than expected start-date for the negative gearing changes claiming that a 1 January start-date would coincide with a quieter time in the property cycle allowing for smoother implementation.

He said that at the last Federal election the Opposition had said it’s negative gearing changes would come into force 12 months after the election, but this time it was targeting seven months but there would be no shortcuts.

"This enables proper legislative processes, draft legislation, proper consultation about how the legislation should be framed,” Bowen said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Interesting. Would be good to know the details of the StrategyOne deal....

4 days 4 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 2 days ago

increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...

4 weeks 1 day ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 4 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

3 days 2 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

2 days 5 hours ago