It's one of the most important moves of the imminent election because Labor has already committed to reforming the system so people can only "negative gear" ~new~ homes.

Negative gearing means people can use property investments to minimise their income tax bill, and Labor's plan intends to restrict the practice in a bid to bring Australia's spiralling house prices under control.

Turnbull and the government claim this is the equivalent of a "housing tax" and that most people who use it are people like "nurses, teachers, police", who are trying to get ahead in life.