Pauline Hanson's One Nation Vows to Undo Labor's Tax Changes
The party proposes restoring the full capital gains tax discount and reforming trust taxation, while capping negative gearing.
One Nation has announced a plan to reverse recent tax changes implemented by the Labor government concerning capital gains and trust taxation. The party also intends to protect negative gearing for individuals who own no more than two investment properties.
Senator Pauline Hanson stated that One Nation would reinstate the full 50 percent capital gains tax discount and eliminate a proposed 30 percent minimum tax on trusts. The party's proposal aims to address concerns about the impact of current tax policies on property investors and the broader housing market.
"One Nation would continue to allow Australians to negatively gear up to two investment properties," Senator Hanson said in a statement. "Australians should be able to work hard, invest and get ahead. For many young Australians, an investment property was one way they could get a foot into the property market. One Nation will end this disastrous experiment and reverse Chalmers' destructive budget experiment."
Hanson accused the current government of negatively impacting the housing market and implementing a "death tax" through its budget measures. She cited concerns that over 1,100 households who purchased homes under Labor's expanded five percent deposit scheme may now owe more than their properties are worth.
"Labor broke its promises on negative gearing and capital gains tax. Why would Australians trust anything they say?" Hanson questioned. "One Nation will never impose a death tax. We will never impose a tax on the family home. You should not have to spend your life paying for Labor's spending addiction, then have them send your children the final bill."