Under Labor's tax changes, people who owned an investment property before budget night on May 12 could continue to negatively gear it. The draft amendments, which also cover changes to the capital gains tax and trusts, are up for consultation until August 21. Senator Pocock is exploring ways to push the amendments forward during the next sitting fortnight, which begins on Tuesday. Despite Labor promising to close the loophole, the opposition maintained it would repeal the tax changes if it formed government. "These reforms will help level the playing field for first-home buyers, preserve the gains investors have made, and support investment in new housing supply," Dr Chalmers said.