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One Nation has unveiled plans to reverse Labor’s changes to capital gains and trust taxation, while protecting negative gearing for Australians with no more than two investment properties.
Pauline Hanson has pledged to bring back the full 50 per cent capital gains tax discount and scrap a proposed 30 per cent minimum tax on trusts, while taking aim at generous concessions enjoyed by property tycoons.
‘The Liberal plan to back the broken model protecting property moguls makes no sense. One Nation would continue to allow Australians to negatively gear up to two investment properties,’ Senator Hanson said in a statement.
‘Australians should be able to work hard, invest and get ahead. For many young Australians, an investment property was one way they could get a foot into the property market. One Nation will end this disastrous experiment and reverse Chalmers’ destructive budget experiment.’
Senator Hanson accused the Albanese government of crippling the housing market through its budget tax measures and implementing a ‘death tax’ by stealth.
‘Already, more than 1,100 households who bought through Labor’s expanded five per cent deposit scheme are now estimated to owe more than their homes are worth. Labor encouraged them into the market, then pulled the rug out from under them,’ she said.
‘Labor broke its promises on negative gearing and capital gains tax. Why would Australians trust anything they say?
‘One Nation will never impose a death tax. We will never impose a tax on the family home. You should not have to spend your life paying for Labor’s spending addiction, then have them send your children the final bill.’
One Nation has unveiled plans to reverse Labor’s changes to capital gains and trust taxation, while protecting negative gearing for Australians with no more than two investment properties
