To help Australians cast their vote at the polling booths on Saturday, The New Daily has compared policies of the two major parties around key election issues.
Here’s a quick breakdown of what the parties are promising:
Capital gains tax: If you sell things like shares, real estate, artwork or other assets that gain value over time, you may have to pay a capital gains tax.
Franking credits: A franking credit is a type of tax credit which gives taxes paid on corporate profits by the company back to the shareholder with the dividend payment.
Negative gearing: Negative gearing is when you borrow money to invest into an asset (usually a property) and the income you make from that investment, i.e. the rent, is less than your expenses, meaning that you’re making a loss. A major benefit of negative gearing is that any loss may be offset against other income earned, such as your salary, reducing your taxable income and therefore your tax payable.