back to top

Penny Wong Has A Really Simple Housing Affordability Question For The Government

Torched.

Posted on

On Monday's Q&A Labor senator Penny Wong asked the most basic question about the government's approach to housing affordability: Why is the current tax system favouring property moguls over first home buyers?

Is it time for a re-think of the tax concessions on offer through negative gearing? @SenatorWong & @SenatorFifield… https://t.co/wrMBZaPDwo

Wong sparred with senior government minister Mitch Fifield over the issue of negative gearing after treasurer Scott Morrison earlier in the day said the tax arrangement would remain in place in the upcoming budget.

Labor has promised to scale back negative gearing, which allows wealthy investors to reduce their taxable income using losses on their investment properties.

Mark Di Stefano is a Media and Politics Reporter for BuzzFeed News and is based in London.

Contact Mark Di Stefano at mark.distefano@buzzfeed.com.

Got a confidential tip? Submit it here.

Promoted