Federal election 2016: Malcolm Turnbull out on a limb over negative gearing

By Peter Martin
Updated May 8 2016 - 10:23am, first published April 27 2016 - 8:13am
Prime Minister Malcolm Turnbull and Treasurer Scott Morrison announce there will be no change to negative gearing. Photo: Michele Mossop
Prime Minister Malcolm Turnbull and Treasurer Scott Morrison announce there will be no change to negative gearing. Photo: Michele Mossop

You've heard the one about the one-year-old who's buying a house. Addison's parents, Kim and Julian Mignacca, are negatively gearing to buy one for her. Mr Mignacca is deducting the rental losses from his salary for tax purposes. Visiting their house on Sunday, Prime Minister Malcolm Turnbull warned that "if Labor's reckless change, its reckless new housing tax, was ever implemented", he couldn't afford it.

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