Australia politics live: Albanese denies tax reforms aimed at courting votes from growing gen Z cohort | Australia news
Prime Minister denies housing and investment changes linked to new Gen Z voters
josh taylor
Prime minister, Anthony AlbaneseHe said the 700,000 Gen Z voters added to the voter rolls by the next federal election were not a factor in deciding the negative gearing and capital gains tax changes in Tuesday’s federal budget.
Asked by sarah ferguson On the ABC’s 7.30am program on additional voters, Albanese said he was only considering the benefits of the policy change.
He said:
If you focus on good policy, politics will take care of itself.
What we focus on here is good policies that are in the interest of young Australians, but also for the benefit of social cohesion. Both in terms of national interests.
He said the government “cannot sit back and continue to watch” as income from labor is treated differently than income from assets.
In deciding to repeal the current negative gearing regulations, Albanese was asked how he would explain to a young person that negative gearing benefits were now “locked in” for older generations.
Albanese said negative gearing still exists for new builds, with the average tenure of negative gearing being just over five years, as people either dispose of property or move to positive gearing.
He said the government was also confident that “we are not changing the basis for people starting to invest in a property based on the regulations available to them”.
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Angus Taylor says Coalition will ‘fight like hell’ to oppose budget tax changes
Angus Taylor, The opposition leader said his rebuttal to the budget later tonight would be about putting Australians first, not about combating growing support for One Nation.
Taylor speaks to Channel Seven’s Sunrise this morning and says he plans to fight “every day” until the budget legislation reaches parliament to “prevent this from happening in the first place”. He continued:
We’ll work with small businesses, those trying to save their nest egg because they’re going to be penalized under that, those trying to grow their business, those trying to buy a home or move forward as homeowners.
We will work with them to fight against this rotten legislation, toxic taxes that will harm aspirational Australians and are an assault on aspiration.
He said if elected he would “absolutely” do what is necessary to repeal the Coalition’s changes to capital gains tax relief.
“Frankly we will fight like hell [against] This is because it is an attack on that desire,” Taylor said.
Good morning, Nick Visser I’m here to get the blog. Let’s get to the point.
josh taylor
Prime Minister expects productivity boost from CGT reforms
Albanese also said he expected efficiency gains from capital gains tax changes, arguing that the current system “skews the market away from equity and towards homes”.
He said the investment would not be impaired by the functioning of the tax system.
He said some of the negative reaction from the investor community was “not based on politics” and committed to advising on the change.
Prime Minister denies housing and investment changes linked to new Gen Z voters
josh taylor
Prime minister, Anthony AlbaneseHe said the 700,000 Gen Z voters added to the voter rolls by the next federal election were not a factor in deciding the negative gearing and capital gains tax changes in Tuesday’s federal budget.
Asked by sarah ferguson On the ABC’s 7.30am program on additional voters, Albanese said he was only considering the benefits of the policy change.
He said:
If you focus on good policy, politics will take care of itself.
What we focus on here is good policies that are in the interest of young Australians, but also for the benefit of social cohesion. Both in terms of national interests.
He said the government “cannot sit back and continue to watch” as income from labor is treated differently to income from assets.
In deciding to repeal the current negative gearing regulations, Albanese was asked how he would explain to a young person that negative gearing benefits were now “locked in” for older generations.
Albanese said negative gearing still exists for new builds, with the average tenure of negative gearing being just over five years, as people either dispose of property or move to positive gearing.
He said the government was also confident that “we are not changing the basis for people starting to invest in a property based on the regulations available to them”.
Welcome
Good morning and welcome to our live politics blog. I Martin Farrer with the best night stories and then Nick Visser will take the helm (with Krishani Dhanji I’m ready to take over this afternoon ahead of tonight’s budget response speech Angus Taylor).
Anthony Albanese He denied that the 700,000 Gen Z voters added to the voter rolls by the next federal election were a factor in deciding on negative gearing and capital gains tax changes in Tuesday’s federal budget. More is coming.
Australians who shop at Coles are about to hear whether the federal court will accept that the supermarket aimed to deceive them with “misleading” and “completely misleading” discounts on many everyday items. More details are coming.
