Albanese Rules Out Negative Gearing Changes, Says Investors Key to Increasing Housing Supply

Amid discussions about possible changes to negative gearing and capital gains tax reforms, Prime Minister Anthony Albanese has clarified that his government will not be taking these reforms into the next election, instead committing to their current housing policy. “What we’re doing is planning for our Homes for Australia policy. That’s the policy we have, and that’s what my government is focused on,” he told ABC News on Sept. 26. Negative gearing is an investment strategy commonly used by Australians, where the costs of owning an investment property exceed the income it generates. Investors can claim the loss as a tax deduction, reducing their taxable income. This strategy relies on the expectation that the property’s value will appreciate over time, allowing for a profitable sale despite short-term losses....