Real Estate Institute of Australia has launched a campaign against Labor’s planned changes to negative gearing and capital gains tax.
President Adrian Kelly says it’s not the first time Labor has introduced this policy, with Bob Hawke and Paul Keating scrapping negative gearing in the 1980s, a policy that failed. Mr Kelly says the is fighting hard so it won’t happen again, as at the time rents went up by 40 per cent, and could go ‘through the roof’ again if Labor was elected in May.