Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

Under the socialist paradise offered by the Labor Party, after the next election, teachers, policemen and nurses will still be able to go to the bank and borrow money to buy a home to live in. That will still be allowed. But they will not be allowed to go to the bank and borrow money to buy an established property to rent it out unless they are prepared to pay for any losses on that property out of their after-tax income. So naturally that is not a very attractive proposition. However, even the plans of the central planners, over, there will come awry because, in their haste, they have overlooked the fact that, of course, somebody with a large investment income under their plan—which is unlikely to be a teacher, a nurse or a policeman—will be able to offset net rental losses against their large investment income. The levelling instincts of the Deputy Leader of the Opposition have just gone askew, here. She has missed her mark yet again. What she will do, what Labor will do, is undermine the value of the family home—the single largest asset class in Australia.

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