Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook

facebook3           facebook2 


What BFCSA Does...

BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.


Articles View Hits

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

Denise Brailey

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form

BFCSA: Do-Nothing PM Malcolm Turnbull under pressure over negative gearing flip-flop

  • Font size: Larger Smaller
  • Hits: 484
  • Print

Do-Nothing Malcolm under pressure over negative gearing flip-flop

By Unconventional Economist in Australian Property

at 12:12 am on April 10, 2017 | 1 comment

By Leith van Onselen


Last week, the ABC released details of a Freedom of Information (FOI) request, which revealed that the Turnbull Government performed a back-flip on reforms to negative gearing and the capital gains tax (CGT) discount in the lead-up to last year’s Federal Budget:

Federal Cabinet formally examined the impact of tax breaks on Australia’s booming housing market in early 2016 but decided not to act, an ABC investigation has revealed.

…instead of making changes last year, the Coalition embarked on a blistering campaign against Labor’s plans to curb property tax concessions.

That is despite the issue being considered at the highest levels of the Turnbull Government as early as February 2016.

This followed details from my cousin’s book, which revealed that Do-Nothing Malcolm and Scott Morrison were rolled in cabinet, with Peter Dutton, Josh Frydenberg and Christian Porter arguing against any changes to negative gearing and CGT so the Coalition could attack the Labor Party with “clean hands”.


Over the weekend, Labor’s Chris Bowen and The Greens’ Peter Whish-Wilson demanded the Coalition release the details of the reports uncovered under the FOI request, as well as demanded that Do-Nothing Malcolm explain why he mislead Parliament on the matter. From The ABC:

The Opposition said the Treasury Cabinet submissions proved Treasurer Scott Morrison wanted the Government to make changes but was overruled by colleagues.

The Prime Minister reportedly also favoured curbing property tax breaks before he and Mr Morrison were defeated in Cabinet.

But Mr Turnbull told Parliament last August: “The story recounted … has no basis in fact at all.”

“Indeed, it is a reminder of Mark Twain’s very wise words that ‘only fiction has to be credible’, and in this case it is not even credible.”


Shadow Treasurer Chris Bowen said Mr Turnbull “needs to explain” that statement.

“This [ABC News] FOI request is a major development,” Mr Bowen said.

“Now there are Cabinet documents, we are aware of Cabinet documents.

“The Prime Minister needs to give full account of his statement in Parliament on this matter”…

Greens treasury spokesman Peter Whish-Wilson said the Government needed to release the analysis.

“The Government has to justify to younger Australians why it rejected changes to negative gearing and capital gains tax at a Cabinet level in February 2016 given that median house prices in Sydney have risen by $110,000 since that time,” he said.


They need to make it public, this is a significant matter of public interest.

“In fact this is a crisis that we’re facing in this country for many first homeowners and of course the risk to the financial system.”


Senator Whish-Wilson said he would move a motion in the Upper House ordering the Government to table the documents.

Mr Morrison this week sought to play down Treasury’s submissions.

“As the Prime Minister has previously noted, Treasury regularly conducts analysis on many policy issues, which is their job,” he said.

A year on, Sydney and Melbourne housing is in the grip of an epic investor-fueled bubble, which Australia’s financial regulators are belatedly trying to contain:




Well done, messrs Turnbull and Morrison. Not only have you lied at every turn about Labor’s proposed negative gearing reforms, but you have derailed national interest policy and your own re-election prospects in the process.

Last modified on
Rate this blog entry: