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There won't even be cheap housing entering the market given...

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UniversalTrader

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10/02/24

14:43

Post #: 72339265
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Originally posted by trashcansinatra: ↑

https://www.news.com.au/finance/real-estate/buying/another-broken-promise-concerns-anthony-albanese-is-planning-to-go-after-negative-gearing/news-story/185c2c517f477368b8affbc42b4c4886

"There are growing concerns Anthony Albanese is preparing to break another promise which the property industry says will only hurt renters.

"In the wake of the prime minister’s backtracking on support for the stage three tax cuts, which he pledged to keep during the last election but last month overhauled, attention has now turned to a multibillion-dollar elephant in the room.

"Negative gearing, which allows property investors to offset their tax by claiming losses incurred by owning and maintaining rental dwellings, isn’t cheap".
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Will he think this through and realise renters will be punished by this policy? Poor home buyers will rejoice with all the cheap housing flooding the market but renters will be squeezed even more.

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There won't even be cheap housing entering the market given the pent up buyer demand
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