ALP gets serious on housing tax reform

16 Februray, 2016

National Shelter the voice for housing policy - Game changing affordable housing policy breakthrough #ItsTime

National Shelter welcomes the announcement by ALP leader Bill Shorten to tackle negative gearing and capital gains tax incentives.

"This announcement is a game changer and throws down the gauntlet to the government", according to National Shelter EO Adrian Pisarski.
"Negative gearing and CGT exemptions for investors have been a dead weight on the ability to create more housing affordability"

"They operate together to inflate house prices pitting investors against would-be home owners for the same existing supply, rather than driving new affordable housing supply."

National Shelter has campaigned over a long time to reform these tax measures and welcomes this move to make housing affordability an election issue.

"These measures will help build supply and improve house purchase and rental affordability for thousands of Australians - clearly citizens are calling for a fairer tax system.

National Shelter says there has been massive mythology about the 1980s negative gearing changes and rejects notions from property industry sources that changes will mean higher rents.

According to National Shelter "If anything the additional boost to supply from these changes will drive prices and rents down."

"If investors do sell they will sell to previously frustrated would be owners and that is also a positive."

"What would improve this announcement is a commitment to a national minister connected to cities and infrastructure with a social and economic improvement, rather than a welfare, focus." Mr Pisarski added and we look forward to working with the Australian Labor leaders on this critical housing policy initiative.

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For further contact Mob | 0417 975 270 Adrian Pisarski 

adrian.pisarski@shelter.org.au