Property Investors Won’t Lose Tax Deductions: Treasurer

Treasurer Jim Chalmers has ruled out changes to negative gearing and capital gains. Property investors are under the spotlight as the tax reform debate shifts to wealthier Australians. Prime Minister Anthony Albanese and Opposition Leader Peter Dutton are both under mounting pressure to revisit tax breaks on investment properties. The Greens are proposing limiting negative gearing rules to a single investment property. But Mr. Chalmers says any changes are off the table. “That’s not something that we’re proposing, not something that we are considering, not something that we are working up,” he told Sky News on Sunday. Negative gearing allows investors to claim deductions on losses, while the capital gains tax discount halves the amount of excise paid by people who sell assets that have been owned for 12 months or more....