Talk Back

Everyone has an opinion, and some people feel compelled to speak out. Here are just a few comments prompted by daily news broken on www.rebonline.com.au over the last month.
ON INDUSTRY SLAMS PROPERTY TAX...
This is just another example of poor government policy. We really have elected the ‘loonies’ now to run this country and if ever there was a time for the opposition to call for a vote of ‘no confidence’ now is the time.
Housing investment is already declining as the baby boomers sell off, and this investment is not being replaced by Gen X and Y.
We already know we are not building enough housing to meet growth, and if the investment market continues to decline at the same rate as present the ‘loonies’ are going to have to fork out a lot more money for public housing.
These strategies are in place to help the government and the tax payer. If the fools running this country continue down this path welfare housing costs are going to go through the roof (so to speak – pun intended).
Look at the mess the NSW Labour Government caused when they introduced an exit tax. Capital gains takes care of the profits made from investment housing – and that is a fair tax on profits – but to introduce another burden on the investment market will have a major negative effect and a resulting increase in costs to the tax-payer.
Gary Carr
It would be very detrimental to growth in housing stock if negative gearing is diminished in any way.
I recall when the Keating government tampered with negative gearing; it very quickly led to rapid increases in rents and diminishing housing supply.
If this policy error is compounded further with an introduction of a vendor tax it will spell absolute disaster for investment housing.
George Savva