227 | Exposed: “Dodgy Data” Driving Labor’s Negative Gearing Policy

The Property Couch

Folks, let’s just say… it’s been a week!!!
You know that exclusive story we shared with you in last week episode?? Well, it’s, ahh, hit the headlines… BIG TIME!
Don’t know what we’re talking about? Here’s a Quick Recap…

Ben was listening to Chris Bowen (Shadow Treasurer of the Labor Party) on ABC’s Insiders: The Interview. Bold Statement made. Rather bold in fact (Listen to ABC’s audio here). Chris Bowen quotes that 96% of properties negatively geared are Established Properties. Ben nearly “loses his cornflakes”. Where had Labor got their data from???

Fast forward to today and not only do we know that the ABS data Labor used to model their negative gearing policy is, in fact, WRONG… but also Ben’s done a bit of behind-the-scenes leg work to expose the real data.
The result? You’ll find out EVERYTHING in today’s episode! But we WILL say this… our world exclusive has made front page news on the Financial Review and Chris Bowen himself has mentioned a certain “mortgage broker” (aka ol’ mate Kingsley) in an address yesterday.
Watch the National Press Club clip here on ABC iview here.
Hence, we’ve decided to push Julia’s “Part 2” property tax episode back a week because we think this breaking news is SERIOUSLY IMPORTANT for you folks!
Before we get into it, we do want to add that we are NOT questioning the methodology of the PBO and other expert economists responsible for the modelling work here — far from it. What we’re saying is the data they had access to was simply wrong. And without Labor approaching any of our industry experts prior to pushing the pedal on their modelling, the figures they’ve been telling the general public are and have always been, misinformed. And this, to be frank, can have quite dangerous consequences for the property market.
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