No Treasury modelling on negative gearing

Treasury has not provided any modelling to the government on the potential impact of changes to negative gearing.

The coalition has condemned Labor's policy of scaling back negative gearing and capital gains tax concessions.

But Labor has hit back saying there is no evidence to back Prime Minister Malcolm Turnbull's claim the policy represents a "housing tax sledgehammer".

Liberal senator Sean Edwards asked Treasury officials on Friday whether any modelling had been prepared to back the government's argument.

"The government has made quite a lot of announcements and has formed strong positions on negative gearing. So you are telling me you haven't done any modelling to inform government about this issue," he asked at a Senate estimates hearing.

"That is correct," said senior Treasury official Matthew Brine.

"We haven't undertaken any economic modelling of the impacts of negative gearing."

Asked about modelling last week, Mr Turnbull said the impact of winding back concessions for property investors was "a matter of common sense".

"Around a third of the buyers of residential property currently are investors," he told ABC television.

"What Labor is proposing will take all, or almost all of them out of the market ... (and) if you take a third of the buyers out of the market, prices, values will fall."