The Real Estate Institute of Australia (REIA) has launched a campaign to give the property sector a voice during this years Federal Election.
In a statement REIA President, Adrian Kelly, said he aims to ensure issues relating to the taxation of property are an integral part of the campaign and all politicians are educated about the consequences of the Labour’s policy on negative gearing and capital gains tax.
If elected, Labor plans to abolish negative gearing from 1 January 2020, halve the Capital Gains Tax exemption from 50 per cent to 25 per cent and grandfather negative gearing on existing property investments.
“REIA is concerned about the adverse economic impacts the policy would have, particularly during a property
market downturn.
“The policy, if adopted, will have negative impacts on mum and dad investors, home owners,
renters, the construction industry, state governments and the economy,” Mr Kelly said.
The Institute recently launched a social media campaign nationwide promoting their campaign.
“Our industry makes a huge contribution to the economy and REIA does not want to see economic growth put at
risk by the proposal,” concluded Mr Kelly.
