Independent senators push for changes to ‘generous’ property tax concessions

Cross-bench senators are pushing the Albanese government to change “generous” tax concessions for future property investors.

Independent senator for the ACT, David Pocock, says buyers should only have one property subsidised.

“If you want to have an investment property, sure you can negatively gear it, but not more than that,” he told Tom Elliott.

Press PLAY to hear his proposal

He says in the short-term, it could cause house prices to temporary fall.

“They [the Parliamentary budget office] think It’ll largely be offset by first-home buyers who want to get into the market,” he said.