Australia Opposition Plans Negative Gearing Changes, AFR Says

Opposition leader Bill Shorten will announce an election-year policy that would curb negative gearing, the Australian Financial Review reported, without saying where it got the information.

Shorten’s plan, to be unveiled at the New South Wales Labor Party state conference in Sydney on Saturday, would limit negative gearing to new homes only, and apply to houses purchased after July 1, 2017, according to the report. Labor expects the policy to raise A$32.1 billion ($22.8 billion) over 10 years, the paper said.

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