Labor rules out changing negative gearing or capital gains tax despite backlash to Albanese’s $4.3m cliffside house

Some government MPs called for a rethink amid concerns about the Copacabana purchase ahead of an election expected to be fought over housing

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The Albanese government is ruling out revisiting negative gearing and capital gains tax concessions in response to political concerns about the prime minister buying a $4.3m waterfront home, despite backbench murmurs that they should be reconsidered.

The deputy prime minister, Richard Marles, confirmed on Thursday that public debate about Anthony Albanese's purchase of the clifftop property at Copacabana, on the NSW Central Coast, had not influenced the government's position.

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