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Greens National Council Resolution to Tackle Negative Gearing and Housing Affordability

Scott Ludlam 20 Feb 2016

The Australian Greens have committed to phasing out negative gearing and capital gains tax discounts at their National Council Meeting today.

"It's long overdue that the abolition of these subsidies for the wealthy are part of a national debate on taxation," Australian Greens Housing Spokesperson Senator Scott Ludlam said today.

"For too long both Labor and Liberal parties tried to silence any discussion about reforming negative gearing and capital gains tax, so that it's on the table at all is welcome progress.

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Negative Gearing in WA - the facts

Scott Ludlam 18 Feb 2016

Wealthy WA investors use negative gearing more, and gain more of the benefits, than any other state in Australia. These benefits flow to the rich in WA even more than they do in other parts of the country.

This has contributed to an overheated, unaffordable housing market here in WA. First home buyers are priced out of the market altogether, or forced to buy in the outer reaches of Perth's urban sprawl.

WA investors use negative gearing more than the national average:

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Treasurer should not be so quick to rule out negative gearing reform: Greens

Scott Ludlam 8 Feb 2016

Malcolm Turnbull must ignore Scott Morrison's comments and implement negative gearing reform, Australian Greens Deputy Leader and Housing Spokesperson Senator Scott Ludlam said today.

"Negative gearing is an excessively generous scheme whereby low and middle income earners effectively subsidise property investments for the wealthy. More than half of all negatively geared properties in Australia are owned by people in the top 10% of income earners.

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