Building industry slams Labor's negative gearing plan

THE building industry has hit out at Labor's proposed changes to negative gearing, labelling the policy a "populist response".

Masters Builders Australia chief executive Wilhelm Harnisch said the policy moved away from "a long-held bipartisan approach" to negative gearing in place since the 1990s.

He said while quarantining negative gearing to new homes was attractive to the building sector; it had a "sting in the tail" by halving capital gains tax concessions.

"Our concern is that Labor's policy is a populist response to those who demonise housing and negative gearing as primary cause of our fiscal and social problems," Mr Harnisch said.

"Investing in new private rental housing is not evil."

Mr Harnisch said the industry would continue its "positive engagement with the ALP", but urged it look elsewhere to drive tax reform and economic growth.


Dalby mum accused of attempted hit and run with kids in car

Premium Content Dalby mum accused of attempted hit and run with kids in car

It’s alleged the Dalby woman nearly had a head on crash while attempting to run...

IT’S ON: Dalby Show returns with a bang after pandemic

Premium Content IT’S ON: Dalby Show returns with a bang after pandemic

Lawnmower races, rodeos, and an Australian record attempt are only the tip of the...

One-third of QLD councils on financial brink

Premium Content One-third of QLD councils on financial brink

One-third of Qld councils at risk financially