An ALP policy released today proposes that negative gearing will only be available from July 1, 2017 for newly constructed homes.

Announcing the policy at the NSW ALP State Conference, Opposition Leader Bill Shorten said all current investments will be grandfathered.

In a further measure, the capital gains tax discount will be reduced from 50 per cent to 25 per cent.

The full policy appears below.

Statement from Opposition Leader Bill Shorten

A strong and sustainable budget is necessary so we can fund our priorities of health and education and underwrite our nation’s future. [Read more…]