A Labor win in the election will mean big changes in a number of key policy areas – negative gearing rules will change as will refunds of franking credits and capital gains tax concessions.

This will have important implications for investors, financial planners and the economy. Investment in new dwellings is likely to get as boost, as will shares in companies not paying the previously appealing 100% fully franked dividends.

Both sides are offering income tax cuts although there are differences as to the timing and income levels targeted with the first stage.

Labor is offering larger cuts to low and middle income earners while the Coalition is promising to phase in tax cuts over 7 years by which time the income tax scales will be very flat.

A Coalition win will be “business as usual”.