Luke Gosling (Solomon, Australian Labor Party) Share this | Hansard source

On the weekend in Darwin and in Palmerston, I had plenty of conversations, particularly with young people—we're a very young jurisdiction—about the new rules for negative gearing and about our positive budget for young people's future to create a fairer playing field for those Territorians that have been locked out, that turn up to auctions and get crowded out time after time by property investors who want to do what many property investors have in the past, just like a former member for Solomon, from the other side of course, who had 14 investment properties while some young Territorians struggled to even get their own home. We're taking action to make it a fairer playing field.

But I need to be clear because those on the opposite side of this chamber are pretty happy with the misinformation going around. If you negatively geared a property before budget night, there's no change. You can still continue to do that. No problems. For future investment properties, it'll be for new builds, and that's good. That's good for our tradies, and that's good for people who want to invest in new properties. They can negatively gear those, no problems at all for those new builds. If there's one thing that Australians all agree on, it's that we're a fair country. We want to give young people a fair go, and that's what this budget is delivering.

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