Invest
Property taxes: Experts weigh in on what changes mean for investors
Prime Minister Scott Morrison has heard of the potential impacts of proposed tax changes on the Australian property market, as investors approach the 2019 market with caution.
Property taxes: Experts weigh in on what changes mean for investors
Prime Minister Scott Morrison has heard of the potential impacts of proposed tax changes on the Australian property market, as investors approach the 2019 market with caution.
The Property Council of Australia has hosted a property industry roundtable in Canberra, designed to discuss the potential impacts of changes to negative gearing and capital gains tax (CGT) proposed by the federal Labor opposition.
As part of its housing affordability policy, the Australian Labor Party (ALP) has proposed that if elected, it would limit negative gearing to new housing and reduce the CGT discount from 50 per cent to 25 per cent. You can read more about the policy here.
The property industry has voiced strong opposition to Labor’s proposal, claiming that it would further soften investor demand and exacerbate weakness in the housing market.
Property Council of Australia CEO Ken Morrison said the property roundtable, which was convened by the Assistant Minister for Treasury and Finance, Senator Zed Seselja, and also attended by Prime Minister Scott Morrison and Treasurer Josh Frydenberg, provided policymakers with an opportunity to hear the industry’s concerns.
Mr Ken Morrison said that Labor’s housing plan would limit the supply of rental housing.
“It’s not the time to be making changes to negative gearing or capital gains tax that undermine investor confidence in new or established housing, which helps meet the housing needs of one-third of Australian households who rent,” Mr Morrison said.
“Nine out of 10 property investors own just one or two investment properties, with the overwhelming majority owning a single investment property.
“Supported by the current taxation arrangements, they play a vital role in meeting demand for rental housing.”
He concluded: “The current arrangements for negative gearing and capital gains tax must be left in place to ensure these Australians continue to be encouraged to invest in property to support their own retirement as well as meet the housing needs of other Australians.”
Property
Retirement communities: a pivotal element in meeting Australia's housing targets
The Retirement Living Council (RLC) has recommended that retirement communities should be considered a vital part in the Australian Government's initiative to fulfill the Housing Australia Future Fund ...Read more
Property
Australians adjust financial strategies amid changing property market dynamics
The 2023 calendar year saw Australian borrowers acquiring a total of $300.9 billion in new loans for property purchases, marking a 12.7% decrease from the previous year. Read more
Property
Split home loans unlocking doors for Aussie buyers
Australians are teaming up to dive into the real estate market and seize the advantages of home ownership, with the trend of split home loans surging as family and friends unite to buy properties ...Read more
Property
Real estate investment: Spotting high-growth potentials
Investing in real estate has long been a favoured approach for Australians looking to grow their wealth. Read more
Property
Granny flats become Aussie families' cost-effective solution to soaring living costs
As the cost of living skyrockets, a forward-thinking trend is sweeping across Australia – granny flats are becoming a favoured living arrangement for older Aussies seeking comfort and proximity to ...Read more
Property
Homebuyers grapple with extended savings period amid affordability crisis
Gone are the days when an Australian dream home seemed just within reach. The path to homeownership in Australia has extended by at least two arduous years, as revealed by the latest insights from ...Read more
Property
Hybrid development unlocks new potential for NDIS housing in metro hotspots
In a ground-breaking strategy aimed at addressing the stark imbalance between the location of Specialist Disability Accommodation (SDA) developments and the actual areas of demand, Aligned Disability ...Read more
Property
Property prices boosted by housing policies: RBA
The central bank has outlined the “pervasive” impact that policy has on property. Read more
Property
Retirement communities: a pivotal element in meeting Australia's housing targets
The Retirement Living Council (RLC) has recommended that retirement communities should be considered a vital part in the Australian Government's initiative to fulfill the Housing Australia Future Fund ...Read more
Property
Australians adjust financial strategies amid changing property market dynamics
The 2023 calendar year saw Australian borrowers acquiring a total of $300.9 billion in new loans for property purchases, marking a 12.7% decrease from the previous year. Read more
Property
Split home loans unlocking doors for Aussie buyers
Australians are teaming up to dive into the real estate market and seize the advantages of home ownership, with the trend of split home loans surging as family and friends unite to buy properties ...Read more
Property
Real estate investment: Spotting high-growth potentials
Investing in real estate has long been a favoured approach for Australians looking to grow their wealth. Read more
Property
Granny flats become Aussie families' cost-effective solution to soaring living costs
As the cost of living skyrockets, a forward-thinking trend is sweeping across Australia – granny flats are becoming a favoured living arrangement for older Aussies seeking comfort and proximity to ...Read more
Property
Homebuyers grapple with extended savings period amid affordability crisis
Gone are the days when an Australian dream home seemed just within reach. The path to homeownership in Australia has extended by at least two arduous years, as revealed by the latest insights from ...Read more
Property
Hybrid development unlocks new potential for NDIS housing in metro hotspots
In a ground-breaking strategy aimed at addressing the stark imbalance between the location of Specialist Disability Accommodation (SDA) developments and the actual areas of demand, Aligned Disability ...Read more
Property
Property prices boosted by housing policies: RBA
The central bank has outlined the “pervasive” impact that policy has on property. Read more