Labor abandoned its plan to scale back negative gearing and the capital gains tax discount, ending a policy it had carried into the previous election. PIPA chief executive Peter Koulizos welcomed the decision, saying close to 90 per cent of property investors owned only one or two properties and were mostly ordinary people building retirement savings rather than the wealthy the debate had focused on.
Reported by
Mike Wood, Australian Broker, 27 July 2021
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