Labor to end negative gearing concessions for new investors

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Labor to end negative gearing concessions for new investors Updated The Abbott Government is proposing to end changes to negative gearing concessions for new investors and allow them to take over private-hire vehicle loans. Under the proposal, if a taxpayer bought the vehicle that they were renting out for less than 10 years, the loan would be repaid at a rate of 25 per cent. The Governmen성남안마t says new investment in rental properties would also be allowed, with up to 30 per cent of that capital going into new private ownership in return for capital gains tax concessions. Labor is calling for changes to negative gearing to be reversed. Shadow Treasury and tax spokesman Chris Bowen told AM that the Government’s scheme was « sucking in capital gains tax payers, to the tune of $100 billion a year ». « That’s not fair. The Government says they are trying to ensure that new investments happen as quickly as possible to make sure we do not lose out on the cash we save, » he said. The Federal Opposition says Labor’s changes to negative gearing will result in more people selling their vehicles than buying them. But the Government says there is no evidence to back this up. « Negative gearing is not the answer to the capital gains problem, it has not been proven to work, and there is no evidence that it does, » a spokesperson for TrXO 카지노easurer Scott Morrison said. A spokesman for Mr Morrison would not say when the Government planned to give negative gearing concession to new investors, saying: « I can guarantee we won’t give out any information about that today. » He added that the existing regime was in place while Mr Morrison was treasurer, meaning changes to it would affect those who 대전 출장 마사지were already owning rental cars. The new policy will also require those wanting to buy their own vehicles to undergo a separate capital gain assessment, where the Treasury would then pay out a 25 per cent deposit. That could affect millions of taxpayers, who would no longer have the benefit of having access to a rental vehicle loan they could take on to meet debt payments. In a statement, the Treasurer said a new capital gains tax concession would help raise $300 billion over three years to help balance the budget.