Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) | Hansard source

Today NAB has clarified publicly, 'This was not a forecast, and it's important to note that we do not forecast rental yields.' I have a couple of points to make that those opposite seem to have missed. The budget made no changes for people who already negatively gear property, none whatsoever. Arrangements that were in place up to budget night remain grandfathered in, so how could it possibly be the case that you have this absurd justification?

Going forward, of course, negative gearing and the 50 per cent capital gains tax discount can still be used for investment properties, on new builds, so that, when people are investing, they're not only investing in their future wealth and assets; they're investing in the future wealth and assets of the nation, and that is already making a difference.

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