Nick Files

So this is a political risk for Albanese and the Labor government.

It's gone down quite badly in some sections of Australian society, not only from the boomers.

Start-up companies have criticised the capital gains issues and also some young people have said, well, how is this fair?

My parents may have benefited from the system and created a huge amount of wealth for their retirement.

I'm not allowed to do that anymore.

There's also a risk that it doesn't work.

New Zealand abolished negative gearing a few years ago under Jacinda Ardern and reversed that.

Because one of the potential side effects is a spike in the rental markets.

And that's what happened in New Zealand.

The other issue that potentially could come up is the supply issue.

If it's a huge asset class and a lot of money's in it, more houses will be built.

So how that winds its way through the system over the next decade and whether the government has to step in and provide more funds to make sure there isn't a shortfall as private investment exits the market, it remains to be seen.