Australia news LIVE: Tax bill passes lower house; Pickering speaks on Tame comment
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Labor’s tax changes will have no effect on economic growth or productivity, Treasury officials say.
As the government passed changes to negative gearing, the capital gains tax and trusts through the lower house earlier today, departmental officials argued the package would boost homeownership and improve intergenerational equity.
But the budget did not improve the outlook for GDP or productivity growth in either the near- or medium-term, Treasury told a senate estimates hearing.
“It, in aggregate, did not have a significant impact (to GDP growth) in the near term,” assistant secretary for macroeconomics Angelia Grant said.
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