Gai Brodtmann ignorant to effects of Labor’s negative gearing policy


 

Senator for the ACT, Zed Seselja has called out Gai Brodtmann on her negative gearing comments at the Superannuated Commonwealth Officers' Association (SCOA) Meet the Candidates 2016 Forum, as a blatant lack of understanding of her own party’s policy which will negatively affect home owners, renters and investors across Canberra.  

Gai Brodtmann was asked whether she supported the housing tax which would see house prices drop, to which she responded:

“The majority of people are – who are benefitting from the existing housing, uh, negative gearing policy are those who’ve got multiple properties and those at the top end of town.”

Gai Brodtmann, ACT SCOA Meet the Candidates Forum, 6 June 2016 

“In fact, around two thirds of Australians who use negative gearing for property investment, have taxable income of less than $80,000 and in the ACT alone, there are 31,731 hard-working taxpayers who utilise negative gearing,” Senator Seselja said today.

“Under Labor’s policy the average family in Canberra utilising negative gearing would effectively face a tax increase of $3,582 per annum. Not only would the tax bill of these average families rise but they would also see a drop in the value of their family homes.

“Gai’s lack of understanding of her party’s policy confirms that she does not understand what is at stake as Labor hits hard-working Australians particularly in her own electorate.

“It is a policy that attacks the investments of mums and dads that are trying to get ahead. It also attacks rents which will go up and the value of all homes which will go down.

“It’s one thing for Labor to pursue this disastrous policy but Gai Brodtmann and Labor should be honest about just who will be affected,” Senator Seselja said.