The ALP have been telling us all about the negative gearing rort. Well breaking news*:
The Australian Taxation Office statistics, released last week, showed that 62 per cent of people who claim an investment property as a tax break were on taxable incomes of less than $80,000.
Bill Shorten, who is campaigning on Labor’s plan to scrap negative gearing on all but new dwellings, said yesterday the move would boost housing affordability for first-home buyers. Labor says investments made before it is elected would be fully grandfathered.
The Labor leader has rejected claims that lower-income earners would be hit by scrapping negative gearing. But an analysis of the top 20 postcodes ranked by the total number of investors who claim rental losses shows more than half are in Labor seats, with many in lower-income suburbs.
The biggest number is in postcode 3030 — comprising Werribee and Point Cook, southwest of Melbourne — where almost 6500 people claimed a total of $56,351,008 in net rental losses in 2014-15. These suburbs are in the safe ALP seat of Lalor.
The “safe ALP seat of Lalor” – previously held by former PM Julia Gillard.
*Okay – not breaking news – you read it here first, two years ago.