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Extra negative gearing limits could hurt market and family budgets, Labor says

Clare O’Neil has rejected calls from the Greens and others to put further limits on negative gearing access, saying the government should not interrupt “immediate arrangements”.

There’s people in the debate who want to see the government go further. I really understand that but I just think we need to step back.

Negative gearing is a very immediate impact on a household and family budget and it’s not something that governments, when they’re making tax changes, should do, to interrupt people’s immediate arrangements.

We need to land this. We’ll do that in the appropriate time given the need … This is not a political timeline. It is a policy timeline … It’s important this gets resolved speedily and that’s what the government is working towards.

I think there’s a range of things that are on the table in those conversations and I won’t speak about them in detail …

The government wants to get the right outcome here and we are not going to be driven by the politics of the moment. It’s really important we reach the right landing point for this and I think I have spoken in previous interviews this week about some of the issues we see.