Labor’s attempt to resurrect its previously failed policy of abolishing negative gearing will cost Tasmanian renters more than $500 each year.

A BIS Shrapnel report has shown rentals would need to increase by $10 per week or $520 per annum if Labor’s failed tax was to be reintroduced.

This massive assault on family budgets is just one of the many heavy blows that families would face under a Shorten Labor Government.

This combined with Labor’s 5 new taxes would destroy family budgets right around Tasmania.

Labor abolished negative gearing about 30 years ago and it was such a disaster that Labor reintroduced it, admitting their error. So desperate to put forward any policy, Mr Shorten and Labor are willing to repeat their predecessors mistake. It seems everything old is new again.

Negative gearing allows mortgage payments to be deducted against rental income by property owners.

73% of Australians who negatively gear only own one investment property. There are more than 18,000 Tasmanians who negatively gear – foregoing lifestyle and income today for a more secure future tomorrow.

Well over 18,000 Tasmanian renters will be slugged by Labor’s $500 rental tax.

Only the Turnbull Liberal Government will ensure lower taxes and a stronger economy. The best way for Tasmanians to reject this great big new tax is to elect six Liberal Senators for Tasmania.