News National In brief: Major parties’ policy differences explained

In brief: Major parties’ policy differences explained

Australians will head to the polls on Saturday to decide who will run the nation.
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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:

labor climate change cost
Labor says it will use existing climate change mechanisms to enforce its policies. Photo: AAP

Xi JinPing raises a glass of red
Xi Jinping is set to have absolute power in China for the next decade. Photo: Getty

Asylum seekers try to jump just before their boat overturns off the Libyan coast.
Both parties will maintain a strong border protection policy. Photo: AAP


How you will fare under the two parties’ tax breaks

What Scott Morrison’s big pitch to first-home buyers means


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.

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