PM Malcolm Turnbull commits to negative gearing

Prime Minister Malcolm Turnbull and Treasurer Scott Morrison have ruled out any changes to negative gearing in the upcoming May budget.

Mr Turnbull said Labor’s plan to limit negative gearing would significantly reduce investor demand and house values, place upward pressure on rents, and lead to landlords cutting back on maintenance and repairs.

A report by the Grattan Institute said changes to negative gearing would save $5.3 billion per year and improve housing affordability.

Source: Mortgage Business