I can see what Labor are trying to do. They believe they need to...

I can see what Labor are trying to do. They believe they need to support the local building industry by encouraging investors to invest in new builds, which also have larger levels of depreciation so are in some ways more attractive to investors planning to negatively gear. There is little economic activity generated from investing in older properties, so if you are going to reduce expenditures of the public purse in this way it looks like a balanced way of doing it, however there will be some other minuses in that those who cant negatively gear may be forced to charge higher rents, whilst rents in newer suburbs may actually decrease from investors chosing new builds over existing stock. All in all it will be less attractive to invest in property which should drive more people to invest in the share market which should have benefits for shares like UNS with more investors looking for opportunity.