The Real Estate Institute of Western Australia has kicked off a campaign to engage with the WA community as proposed changes to negative gearing are debated. In the lead up to the Federal Election, REIWA is seeking the thoughts and opinions of West Australians who use property to help shape their lives a nd secure their future.
As part of the campaign, REIWA will share local research and survey results to ensure a balanced conversation on negative gearing. REIWA President Hayden Groves said that the current debate around negative gearing doesn’t focus on the role property plays in the lives of everyday West Australians.
“The proposed changes to limit negative gearing to newly built properties will not fully address the issue of housing affordability,” said Groves. “Housing affordability can only be solved with a combination of supply levers and planning and development policy reform.
“Rather than tinker with negative gearing, we’ll be promoting the need for broader tax reform where the system is simple, fair and efficient. Changing just one part of a very complex system can lead to inefficiencies and distortions.
“Over the coming weeks, we’ll be running a series of surveys with members of the WA public to find out what matters to them in regards to property ownership.”
Greens’ leader Adam Bandt’s appeared at a press conference recently sporting a t-shirt claiming he was “Fighting for Renters”. The progressive-left party wants to prevent investors with more than one property from claiming the expenses of owning additional rental homes from their taxable income. They also would like to impose … Read more
Housing affordability is dominating this election campaign. Higher property prices, limited supply and increasing demand have made it increasingly difficult to enter the housing market. Both major parties have proposed different policy platforms to address housing and while both recognize the need for action, their approaches differ in philosophy, scope, … Read more