The decision of The Coalition to support the government’s tax package has significantly reduced its ability to use any ammunition in Parliament to oppose or criticize the government’s tax cuts.
The opposition, led by Prime Minister Anthony Albanese, attempted to question the relevance of the prime minister in the House Speaker, raising concerns as Albanese avoided answering questions related to negative gearing on the first day of Parliament. Negative gearing, a tax policy that allows landlords to claim tax deductions when the rental property generates a loss, has become a focal point of contention in political debates. Some Labor MPs and the left-wing Greens support limits on negative gearing, arguing that it would contribute to improving housing affordability.
The Liberal-National Coalition pressed the prime minister to acknowledge the possible capping of negative gearing, but instead, Albanese focused on internal divisions within the Coalition and its decision to back the government’s tax changes. He referred to disagreements within the Liberal Party Room as “Nemesis … episode four: the Dutton years.”
The debate was further fueled when Liberal Senator Maria Kovacic called for tax changes to boost home ownership, including limiting the number of properties an investor can negatively gear, putting her at odds with Opposition Leader Peter Dutton. Albanese quoted Senator Kovacic in the house, suggesting that her position merits discussion, further adding complexity to the debate.
All in all, controversy and division within the Coalition have overtaken the parliamentary debates surrounding tax cuts and negative gearing, with the opposition’s own stance on the matter becoming a key point of contention and scrutiny.