Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

As the honourable member understands, the policy that she and her colleagues are proposing on negative gearing will have the consequence of ensuring that a person on average income—such as a teacher, a nurse, a policeman or a member of the Leader of the Opposition's former union—would not be able to get a tax deduction for the net rental loss on an investment property that they purchased if it was offset against their income. That is the object of their policy. When I raised that with her, yesterday, she gave a consoling interjection where she said under a Labor government these hardworking Australians—over a million of them are investing in investment property, now, just doing this—will not be able to do that in the future. They will not be able to make any new investments—

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